GAO: Increase needed in oil spill liability trust fund

09/17/2007
Although major oil spills do not occur frequently, the federal oil spill liability trust fund should be increased to cover higher cleanup costs, the US Government Accountability Office said in a Sept. 7 report.“To date, the fund has been able to cover costs from major spills that responsible parties have not paid, but risks remain,” GAO said in a report to leaders of the US Senate Commerce, Science, and Transportation Committee and the House Transportation and Infrastructure Committee.While the 2006 Coast Guard and Maritime Transportation Act increased liability limits, the new limit for tank barges “remains low relative to the cost of such spills,” said GAO. Simil...
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