On the recordJuly 30, 2010
I thank the gentleman for yielding. This amendment states that any entity--other than an individual person--with an ownership interest in a vessel, offshore or onshore facility, deepwater port, or pipeline of more than 25 percent is a responsible party under the Oil Pollution Act if the assets of the vessel or facility are insufficient to pay claims arising from oil spilled by the vessel or facility. I applaud Mr. Connolly, Mr. Holt, and Mr. Welch, and I support this amendment, which will ensure that parent companies with ownership stakes in subsidiaries to offshore facility ventures bear the costs owed by these subsidiaries for spills from the facilities if the facilities lack adequate assets to pay the claims. This will prevent such costs from being shifted to the Oil Spill Liability Trust Fund. I urge my colleagues to support the amendment. {time} 1600
