Oil Spill Liability Trust Fund

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The Oil Spill Liability Trust Fund is a U.S. federal fund that provides money for oil spill cleanup and damages when responsible parties cannot or do not pay.

AI illustration

How this image was made

AI-generated illustration of Oil Spill Liability Trust Fund

This AI-generated illustration was produced by black-forest-labs/FLUX.2-dev (1024x1024) from a prompt written by openai/gpt-oss-120b from the entity's label + description.

Prompt

Generate an image of the Oil Spill Liability Trust Fund (The Oil Spill Liability Trust Fund is a U.S. federal fund that provides money for oil spill cleanup and damages when responsible parties cannot or do not pay.)

All labels observed (3)

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf federal trust fund ⓘ
oil spill response fund ⓘ
administeredBy U.S. Coast Guard ⓘ
U.S. Coast Guard National Pollution Funds Center ⓘ
claimantsInclude federal agencies ⓘ
local governments ⓘ
private parties ⓘ
state governments ⓘ
tribal governments ⓘ
country United States ⓘ
covers governmental response costs ⓘ
loss of profits and earning capacity ⓘ
loss of subsistence use of natural resources ⓘ
natural resource damages ⓘ
property damage ⓘ
removal costs ⓘ
createdBy Oil Pollution Act of 1990 ⓘ
linked to: Oil Pollution Act
currency USD ⓘ
linked to: US dollar
effectiveFrom 1990 ⓘ
fundingSource civil penalties ⓘ
cost recoveries from responsible parties ⓘ
interest on invested funds ⓘ
per-barrel tax on domestic crude oil and imported petroleum products ⓘ
jurisdiction United States federal government ⓘ
legalBasis Internal Revenue Code ⓘ
Oil Pollution Act of 1990 ⓘ
linked to: Oil Pollution Act
managedBy U.S. Department of Homeland Security through the U.S. Coast Guard ⓘ
oversightBy U.S. Congress ⓘ
predecessor 1986 Oil Spill Liability Trust Fund (not fully activated until OPA 90) ⓘ
purpose ensure prompt oil spill response when responsible parties are unable to pay ⓘ
ensure prompt oil spill response when responsible parties are unknown ⓘ
ensure prompt oil spill response when responsible parties do not pay ⓘ
provide funds for oil spill damages ⓘ
provide funds for oil spill removal costs ⓘ
relatedLegislation Comprehensive Environmental Response, Compensation, and Liability Act ⓘ
riskAddressed oil pollution in adjoining shorelines ⓘ
oil pollution in navigable waters of the United States ⓘ
oil pollution in the exclusive economic zone of the United States ⓘ
sector environmental protection ⓘ
maritime transportation ⓘ
statutoryLimitPerIncidentDescription up to $1 billion per incident ⓘ
statutoryLimitPerIncidentUSD 1000000000 ⓘ
subLimitRemovalCostsDescription up to $500 million per incident for removal costs ⓘ
subLimitRemovalCostsUSD 500000000 ⓘ
supportsAgency National Oceanic and Atmospheric Administration ⓘ
U.S. Department of the Interior ⓘ
U.S. Environmental Protection Agency ⓘ
usedFor federal oil spill response ⓘ
payment of uncompensated claims for oil spill damages ⓘ

How these facts were elicited

Referenced by (9)

Full triples — surface form annotated when it differs from this entity's canonical label.

Oil Pollution Act of 1990 → creates → Oil Spill Liability Trust Fund ⓘ
subject linked to: Oil Pollution Act
Oil Pollution Act of 1990 → establishes → Oil Spill Liability Trust Fund ⓘ
subject linked to: OPA
Oil Spill Liability Trust Fund → predecessor → 1986 Oil Spill Liability Trust Fund (not fully activated until OPA 90) ⓘ
linked to: Oil Spill Liability Trust Fund
Public Law 101-380 → establishes → Oil Spill Liability Trust Fund ⓘ
U.S. Coast Guard National Pollution Funds Center → managesFund → Oil Spill Liability Trust Fund ⓘ
NPFC → oversees → Oil Spill Liability Trust Fund ⓘ
NPFC → manages → Oil Spill Liability Trust Fund ⓘ
NPFC → legalAuthority → Section 9509 of the Internal Revenue Code (Oil Spill Liability Trust Fund) ⓘ
linked to: Oil Spill Liability Trust Fund
NPFC → fundingSource → Oil Spill Liability Trust Fund ⓘ