Cosco Busan owners pay big for oil damage

09/21/2011

In what is touted as the largest oil pollution settlement reached in the history of law, state and federal officials announced this week that the owners of the Cosco Busan tanker that slammed into the Bay Bridge in 2007 and released 58,000 gallons of oil into local estuaries have agreed to pay over $44 million in damages and subsequent clean-up efforts. Proceeds from the settlement will also fund future projects to restore marine life habitats, including areas along Bolinas and the Point Reyes National Seashore, that were severely impacted in the spill.

“With this settlement,” said Secretary Interior Ken Salazar at a press conference on Tuesday, “we are seeing to it that those responsible for the spill are held accountable and that they pay their share for restoring and improving our precious natural resources and public lands.”