60° CLEAR, SAN FRANCISCO Oil spill costs may exceed insurance
Last Modified: Tuesday, December 18, 2007 at 9:00 p.m.
Cleanup costs for last month's oil spill in San Francisco Bay are on track to exceed the $61 million federal limit on insurance liability, the U.S. Coast Guard said Tuesday.
As of Saturday, $54.7 million has been spent to respond to the 58,000-gallon spill, with clean-up costs averaging about $770,000 per day, the agency said. The Coast Guard has contributed $1.25 million of the $54.7 million.
The cost of cleanup is expected to surpass the $61 million liability cap on insurance payments by the owner of the Cosco Busan, the cargo ship that sideswiped the San Francisco-Oakland Bay Bridge in heavy fog on Nov. 7.
The Justice Department already has sued the ship's owner, Regal Stone Ltd., and pilot, John Cota of Petaluma, alleging violation of several federal laws and seeking unspecified damages.
All rights reserved. This copyrighted material may not be re-published without permission. Links are encouraged.
Add a Comment
Only moderator-approved comments are shown on this page. To see all comments, please visit the forum. We at PressDemocrat.com created these forums as a place where our community can exchange ideas on news issues and express their thoughts. Please be courteous and respectful. Avoid expletives, false statements, veiled or overt threats and personal attacks. Stay on topic. (View full Terms of Service.)Post a comment | View all comments on this topic.