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2) Such costs are partially offset by revenue raising provisions, including reinstating the Oil Spill Liability Trust Fund tax (if certain conditions exist in 2006) (Section 1361), and extending the Leaking Underground Storage Tank (LUST) Trust Fund through Sept. To pay for that, the settlement allows the government to seek more money from the Oil Spill Liability Trust Fund, should the $4 million fall short. The Oil Pollution Act (OPA) of 1990 improved the federal government's ability to respond to spills and created the Oil Spill Liability Trust Fund, which provides up to $1 billion per spill. |
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