Canada Imposes CA$1B Cleanup Fund On Major Oil Lines

Law360, Los Angeles (June 26, 2013, 8:38 PM EDT) -- The Canadian government on Wednesday announced it will begin requiring major crude oil pipelines operating in the country to have C$1 billion (US$955 million) available to initiate cleanup efforts in the event of a spill. 

Joe Oliver, Canada's minister of natural resources, made the announcement during a speaking engagement in Vancouver, British Columbia, on Wednesday, touting the cleanup fund requirement as part of an overarching effort to maintain world-class pipeline safety standards. Oliver also announced a slew of other new regulations, including a penalty system for...
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