Houston company accepts responsibility for oil spill off Louisiana

[Ray]

The original company that drilled the well is responsible for plugging and abandoning it. It is called "cradle to grave law". So if this company bought an old platform, had a spill and walked away, it might go bankrupt, but the original operator is ultimately responsible.
Also, every well that is drilled has a $$$ amount put into an account to cover costs of P&Aing the well if the gov't has to take over. This account had billions in it at one time, not sure if the gov't took it out and used it for anything else.