Both the individual circumstances of the Deepwater Horizon
incident, as well as the overall framework for how the federal
government responds to oil spills, present a mix of evolving, but
as yet uncertain, financial risks to the federal government and its
Oil Spill Liability Trust Fund. The extent of financial risks to
the federal government from the Deepwater Horizon is closely tied
to BP and the other responsible parties. This book identifies the
financial risks to the federal government resulting from the
Deepwater Horizon oil spill; and assesses the Coast Guard's
internal controls for ensuring that processes and payments for
spill-related cost reimbursements and claims related to the spill
are appropriate. Also discussed is the extent to which the federal
government oversees the BP and Gulf Coast Claims Facility cost
reimbursement and claims processes.
General
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