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IPAA: Excessive liability limits will drive independents from gulf

05/24/2010
By Nick Snow
Independent oil and gas producers that have operated safely in the Gulf of Mexico for 40 years should not be pushed out by dramatically higher spill liability limits, Independent Petroleum Association of America Pres. Bruce H. Vincent said."Unfortunately, some in Congress are quickly moving forward with legislation which will have profound, negative consequences for independent producers," said Vincent, who also is president of Swift Energy Co. in Houston. "They are proposing changes that would increase offshore liability limits to unrealistic levels under the 1990 Oil Pollution Act—$10 billion, $20 billion, no liability limit."At a May 18 US Senate Environment a...
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