Oil Spill Panel Calls For Industry Self-Policing

Law360, New York (March 16, 2011, 2:49 PM EDT) -- The co-chairman of the national panel on the Deepwater Horizon oil spill told a U.S. Senate committee Wednesday that major offshore drilling companies should consider formalizing a system that would allow them to self-police and share responsibility for accidents.

William Reilly, co-chair of the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling, suggested that so-called majors such as BP PLC should consider a self-insurance mechanism that would improve compliance and accountability, in a hearing before the Senate Environment and Public Works Committee....
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