OPA 90 -- virtually everyone affected, except the environmentalists, think it is as the 'Rocky Horror Picture Show.' Congress crafted it in an emotional bonfire, which was ignited by the massive spill at Valdez.
[By exposing shipowners to an uninsurable level of liability, the act is] 'driving away from U.S. trading many responsible shipowners who may well possess the safest tankers and the most solid financial backing to cope with pollution damage claims.'
[The Oil Pollution Act] also raises fundamental questions as to whether oil companies will be willing to pay for responsible parties to stay in the business of transporting crude, or whether vessel operators will prosper who engage in a game of roulette with the liability limits.
The fallout from the act is coming. It is like the sword of Damocles hanging over the industry.
The net result could well be a greater probability of oil spills, less likelihood of a responsible owner to deal with those spills, less reliable transportation of oil and greater cost to the consumer; the very things the U.S. wanted to avoid.
