Oil Spill Liability Trust Fund

Topics:
Petroleum and Gas
Tags:
Environment Protection Agency,
Spill
Source:
Environment Protection Agency

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Overview: The paper describes the Oil Spill Liability Trust Fund. Under the oil pollution act of 1990, the owner or operator of a facility from which oil is discharged (also known as the responsible Party) is liable for the costs associated with the containment or cleanup of the spill and any damages resulting from the spill. The EPA's first priority is to ensure that responsible parties pay to clean up their own oil releases. However, when the responsible party refuses to pay, funds from the Oil Spill Liability Trust Fund can be used to cover damages resulting from discharges of oil.

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