New Government Report: Liability and Compensation Issues Raised by the 2010 Gulf Oil Spill
by Jonathan L. Ramseur
Paperback, 24 pages, 2011, $20.00
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 approximately $41 billion. The DH oil spill raised many issues for policymakers, including 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.