The potential costs from an oil spill can be astronomical; how can I possibly be expected to finance all cleanup costs and claims?
The Oil Pollution Act (OPA) limits a responsible party’s (RP’s) liability for removal costs and damages caused by an oil spill. If an RP pays or incurs removal costs or damages in excess of an applicable liability limit, the RP may present a claim to the NPFC for compensation of the excess amount. 33 U.S.C. ยง 2704 discusses these limitations as well as their exceptions.