The Risk of Oil Spills
Oshins, Alice H., Risk Management
Risk managers may be surprised to learn that when the Exxon Valdez spilled 258,000 barrels of oil into Alaska's Prince William Sound, it was only 20 percent of the cargo that was discharged from the supertanker. Tragic incidents like these that wreak havoc on the environment and cost millions of dollars to clean up have brought about new legislation designed to avert future catastrophic spills.
Since the U.S. Oil Pollution Act of 1990 (OPA '90) imposed unlimited liability on owners and operators of vessels and shore facilities who discharge oil into surrounding waters, there has been a considerable debate about its stringent requirements and effect on the oil and international …
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Publication information: Article title: The Risk of Oil Spills. Contributors: Oshins, Alice H. - Author. Magazine title: Risk Management. Volume: 39. Issue: 12 Publication date: December 1992. Page number: 54. © 1999 Risk Management Society Publishing, Inc. COPYRIGHT 1992 Gale Group.
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