Liability and Compensation Issues Raised by the 2010 Gulf Oil Spill
DIANE Publishing, Jun 1, 2011 - 24 pages
The 2010 Deepwater Horizon (DH) incident produced the largest oil spill that has occurred in U.S. waters, releasing more than 200 million gallons into the Gulf of Mexico. BP has estimated the combined oil spill costs will be approx. $41 billion. The DH oil spill raised many issues for policymakers, incl. the ability of the existing oil spill liability and compensation framework to respond to a catastrophic spill. Contents of this report: (1) Intro.; (2) Existing Liability and Compensation Framework: Responsible Party; Liability Limits; Financial Responsibility; The Oil Spill Liability Trust Fund; Compensation or Claims Process; (3) Issues for Policymakers: Liability Limits; Per-Incident Cap; Level of Funding; Claims Process. This is a print on demand report.
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$1 billion 112th Congress August 23 BP Deepwater Horizon BP’s catastrophic spill claimant claims process Clean Water Act Coast Claims Facility Coast Guard compensation framework consumer price index costs and damages CRS Report R41684 Deepwater Horizon incident Deepwater Horizon Oil Deepwater Port Act discharge of oil economic damages Exxon Valdez facility liability limit federal Gulf Coast Claims Gulf of Mexico Homeland Security Horizon Oil Spill increased January Jonathan Jonathan L Kenneth Feinberg liability and compensation liability cap liability provisions Liability Trust Fund major oil spills million if vessel National Pollution Funds natural resource damages OCSLAA Offshore Drilling offshore facility liability Oil Pollution Act Oil Spill Legislation Oil Spill Liability onshore OPA Section OPA’s OSLTF payments per-barrel tax per-incident cap Policymakers Pollution Funds Center Pre-OPA Ramseur recovery removal costs responsible party single-hull Spill and Offshore Spill Liability Trust TAPAA Trans-Alaska Pipeline U.S. Coast Guard U.S. Congress