TeachMeFinance.com - explain Oil spill contingency fund
Oil spill contingency fund The term 'Oil spill contingency fund' as it applies to the area of reclamation can be defined as ' A revolving fund for spill control efforts has been authorized in cases where the Federal government has taken over containment and cleanup operations. The fund is administered by the U.S. Coast Guard. Once the responsible party is determined, they are required to reimburse the fund for the oil removal costs'.
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