Sunday, July 5th20.2°C
26667
26754

Canada changing tanker regulations, stops short of unlimited polluter liability

SAINT JOHN, N.B. - The federal government says it is aiming to make polluters pay as it makes changes to legislation and regulations on oil tanker safety.

But under proposed changes announced today by Transport Minister Lisa Raitt in Saint John, N.B., Ottawa stops short of following a recommendation from an expert panel to remove the current $161-million liability limit for a spill in favour of unlimited liability for polluters.

The report on tanker safety done last year by a three-member panel of experts made 45 recommendations for improving Canada's preparedness for oil spills from tankers and barges.

Raitt says the government is removing the existing liability limit of $161 million under Ship-Source Oil Pollution Fund.

Instead, the full amount for a single accident will be made available from the fund, which the government says currently stands at about $400 million.

Raitt says if all domestic and international pollution funds are exhausted, the government will ensure compensation is provided and recover those costs from the industry through a levy.

She says with ship owners' insurance, and international and domestic pollution funds, about $1.6 billion will be available to cover damages from oil spills.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14682.39+44.40
S&P CDNX670.58-1.00
DJIA17730.11-27.80
Nasdaq5009.21-3.91
S&P 5002076.78-0.64
CDN Dollar0.7955-0.0018
Gold1167.10+4.10
Oil56.20-1.41
Lumber288.50+0.40
Natural Gas2.77-0.05

 
Okanagan Companies
Pacific Safety0.17+0.00
Knighthawk0.010.00
QHR Technologies Inc1.52-0.03
Cantex0.035-0.015
Anavex Life Sciences0.455+0.004
Metalex Ventures0.075+0.010
Russel Metals22.78-0.09
Copper Mountain Mining1.17+0.03
Colorado Resources0.09+0.03
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.50

 





FEATURED Property
2314391616 Peridot Place
3 bedrooms 3 baths
$899,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...


TFSA strategies

Photo: Thinkstock.comThe federal government has increased the annual contribution limit of Tax-Free Savings Accounts (TFSA) to $10,000. Going forward, the annual limit will no longer be indexed to inf...

_








Member of BC Press Council


26782