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U.S. Department of Energy
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Oil Pollution Liability and Compensation Act to 1987. House of Representatives, One Hundredth Congress, First Session, August 4, 1987

Book ·
OSTI ID:5921542
The House Committee on Merchant Marine and Fisheries estimates the costs of H.R. 1632, a comprehensive liability and compensation bill to cover oil spills, in terms of both revenue and spending effects. Revenue from a 1.3 cents per barrel crude oil tax on deliveries to refineries and imports would rise from $25 million in 1988, peak at $84 million in 1990, then decline to $27 million in 1992. Outlays for cleanup costs and compensation would be about $5 million a year in the absence of a major spill. The bill limits federal outlays for a catastrophic spill to $30 million and tax collections to a cumulative maximum of $300 million.
OSTI ID:
5921542
Country of Publication:
United States
Language:
English