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BILL * USA - House Panel OKs Oil Spill Accountability One
Legislation would hold companies responsible for 100 percent of damages
Washington,DC,USA -The Journal of Commerce Online, by R.G. Edmonson -Jul 7, 2010: -- The House Transportation and Infrastructure Committee last week approved legislation intended to hold oil companies accountable for spills like the Deepwater Horizon disaster but could have implications for the wider maritime industry... The Oil Spill Accountability and Environmental Protection Act would make companies responsible for 100 percent of the cleanup costs and damages to third parties. It would also double liability limits to $1.5 billion... The bill, introduced by T&I Committee Chairman, James L. Oberstar, D-Minn., would repeal the 1854 Limitation of Liability Act, which limits vessel owners’ liability to the value of a ship after a disaster. Shortly after the Deepwater Horizon explosion, fire and sinking, vessel owner Transocean Ltd. infuriated lawmakers by proposing a $27 million settlement... Oberstar’s bill also amends the Death on the High Seas Act and the Jones Act to allow victims to recover non-pecuniary damages... (Photo from treehugger: NASA oil spill, May 4th)
Labels: laws and bills USA
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