How Much Do Companies Pay For Oil Spills?

The Largest Oil Spill Ever Wasn’t An Accident: http://testu.be/1Hxu7RU
Does Oil Spill Damage Last Forever? http://testu.be/1HMP1z6

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In May 2015, thousands of gallons of oil spilled into the ocean along the California coast. So, who is responsible, and how much do companies have to pay to clean up oil spills like this?

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A Worldwide Review of Marine Oil Spill Fines and Penalties,
http://www.environmental-research.com/erc_papers/ERC_paper_10.pdf
“Violations of national laws and international conventions regarding the discharge of oil into marine waters is generally subject to some sort of penalty imposed by national authorities, though the severity of these penalties varies greatly between nations and even between offenses within the same nation.”

The Exxon Valdez Oil Spill: 25 Years Ago Today
http://www.theatlantic.com/photo/2014/03/the-exxon-valdez-oil-spill-25-years-ago-today/100703/
“On March 24, 1989, the oil tanker Exxon Valdez had just entered Alaska’s Prince William Sound, after departing the Valdez Marine Terminal full of crude oil. At 12:04 am, the ship struck a reef, tearing open the hull and releasing 11 million gallons of oil into the environment.”

Analysis of U.S. Oil Spillage
http://www.api.org/environmenthealth-and-safety/clean-water/oil-spill-prevention-and-response/~/media/93371edfb94c4b4d9c6bbc766f0c4a40.ashx
The implementation of prevention-oriented regulations and voluntary industry initiatives has combined to reduce spillage dramatically. But these facts do not often reach the level of public awareness.

Oil Pollution Act of 1990
http://www.epw.senate.gov/opa90.pdf
“AN ACT To establish limitations on liability for damages resulting from oil pollution, to establish a fund for the payment of compensation for such damages, and for other purposes.”

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