Bill Proposes Liability Trust Fund For CO2 Deposits

Law360, New York (July 23, 2009, 1:50 PM EDT) -- Sens. Bob Casey, D-Pa., and Mike Enzi, R-Wyo., have introduced legislation to create a legal framework combining private insurance obligations with a federal trust fund to manage liability claims arising from long-term underground carbon capture and storage sites.

The Carbon Storage Stewardship Trust Fund Act of 2009, submitted in the U.S. Senate on Wednesday, will encourage private investment in so-called clean coal efforts such as carbon sequestration by providing a clear chain of liability in order to mitigate financial risk as companies hand over long-term stewardship...
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