DOI Calls For Raised $134M Oil Spill Liability Cap

Law360, New York (February 21, 2014, 4:52 PM EST) -- The U.S. Department of the Interior on Friday proposed raising the threshold on economic and natural resources damage claims stemming from offshore oil spills to nearly $134 million, citing recommendations to increase the liability cap made in the wake of the 2010 Deepwater Horizon catastrophe.

The proposed rule by the DOI's Bureau of Ocean Energy Management would nearly double the existing $75 million liability cap under the Oil Pollution Act of 1990 and would apply to offshore facilities in federal and state waters.

It would be...
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