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Oil Spill Liability Trust Fund

Liability and Compensation Issues Raised by the 2010 Gulf Oil Spill

Posted Fri, 03/11/2011 - 00:00

The 2010 Deepwater Horizon 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--cleanup activities, natural resource and economic damages, potential Clean Water Act (CWA) penalties, and other obligations--will be approximately $41 billion. The Deepwater Horizon 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.

The 2010 Oil Spill: Natural Resource Damage Assessment Under the Oil Pollution Act

Posted Wed, 09/08/2010 - 00:00

The 2010 Deepwater Horizon oil spill leaked an estimated 4.1 million barrels of oil into the Gulf of Mexico, damaging the waters, shores, and marshes, and the fish and wildlife that live there. The Oil Pollution Act (OPA) establishes a process for assessing the damages to those natural resources and assigning responsibility for restoration to the parties responsible. BP was named the responsible party for the spill.