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The Oil Liability Trust Fund (OLTF) was created by Congress in 1986. When the Oil Pollution Act was put into place, it authorized the user of the Fund to pay for certain costs and damages resulting from an oil spill. The Fund is used to pay for clean-up and removal costs following a qualified oil spill as well as certain claims for damages.
The OSLTF has two major components.
1. An “Emergency Fund” to ensure rapid, effective response to oil spills, to make natural resource damage assessments, and to fund certain removal activities. The Emergency Fund is an annually recurring $50 million fund available to the President.
2. A "Principal Fund" to pay claims and to fund appropriations by Congress to Federal agencies to administer the provisions of OPA and support research and development. The Principal Fund has two types of expenses:
Injuries cost money, including time away from work, medical bills and other complications. You should have an attorney help you with your claim. Not sure if you have a good injury case? Speak to a local gulf oil spill attorney about the merits of your case. This one step can help you protect your rights and take the proper next steps.