Attorney General Eric Holder just launched criminal and civil investigations against BP.

From DOJ:

What we saw this morning was oil for miles and miles. Oil that we know has already affected plant and animal life along the coast, and has impacted the lives and livelihoods of all too many in this region. This disaster is nothing less than a tragedy.

There is one thing I will not let be forgotten in this incident: In addition to the extensive costs being borne by our environment and by communities along the Gulf Coast, the initial explosion and fire also took the lives of 11 rig workers. Eleven innocent lives lost. As we examine the causes of the explosion and subsequent spill, I want to assure the American people that we will not forget the price those workers paid.

BP is already facing thousand of private suits in what could easily be the biggest case in US history. Any criminal convictions would lead to a massive increase liability.

Prosecutors in a criminal case can seek twice the cost of environmental and economic damages resulting from the spill. Without criminal convictions, spill liability is limited to a 1-to-1 damage ratio.

Ouch.

Read More: 10 Disastrous Mistakes BP Made Before The Deepwater Horizon Exploded