BOEM wants to increase oil spill liability cap to $134M

02/23/2014 |

The Bureau of Ocean Energy Management proposed on Feb. 22 to increase the oil spill liability cap from $75 million to $134 million. The proposal was met with a cool response from the oil industry, which said the proposal is unjustified. "Companies are already held accountable in multiple ways and accept their responsibility without question. So what does this rule change serve?" said National Ocean Industries Association President Randall Luthi.

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