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Article: Coast Guard sails to OPA 90 rescue as industry pours cold water on COFRs. (Oil Pollution Act, certificates of financial responsibility)
- Article from:
- The Oil Daily
- Article date:
- July 17, 1995
- Author:
CopyrightCOPYRIGHT 1995 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- Offshore oil facility owners have run into strong opposition from the Coast Guard over their attempts to force Senate amendments to certain provisions of the main federal oil pollution law.
The oil industry is seeking changes in the Oil Pollution Act of 1990 (OPA 90) similar to those they garnered in the House in May. As part of the Coast Guard Authorization Act, the requirement that offshore facilities show they are covered for oil spill cleanup costs of up to $150 million was reduced to $35 million.
The amendments also clarified that certificates of financial responsibility (COFRs), which guarantee the ability to pay unlimited liabaility claims ...
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