Senate Mulls Lifting Caps On Oil Damages

Law360, New York (June 9, 2010, 2:45 PM EDT) -- Members of the U.S. Senate Environment and Public Works Committee on Wednesday divided sharply on a proposal to remove economic damage limits under the Oil Pollution Act, with some seeing it as an effective deterrent and others warning it could make all but the biggest offshore drillers uninsurable.

The committee debate centered around a revised version of S. 3305, the Big Oil Bailout Prevention Liability Act of 2010, sponsored by Sens. Robert Menendez, D-N.J., and Bill Nelson, D-Fla., as well as S. 3461, a more narrowly...
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