The U.S. Coast Guard released its Report on Implementation of the Oil Pollution Act of 1990. Among other things, the report notes that, while the Oil Spill Liability Trust Fund (which now stands at $842 million) is fiscally sound at the moment, it may be depleted in 2009 if current trends continue. A combination of reinstituting the fee on imported oil and indexing liability limits to inflation is a means of resolving this potential problem. The report also notes that the domestic tank barge industry
will be impacted if the phase-out date for single hull tank vessels is accelerated. The report was prepared at the direction of Congress. (HK Law).