The best way to the protection of the marine environment from oil spills impacts is the strengthening of available oil spill liability and compensation regimes or the funding of oil spill preparedness and strengthening of oil spill combat capabilities

Abstract

The total volume of oil spilled and the number of spills has declined significantly over the past forty years. However, oil spills are no longer considered as an unavoidable. The ship source oil pollution still remains a potentially important risk to the local economies and the marine environment which can cause major economic loss and severe damages to the coastal and marine environment. The international regulatory framework to deal with liability and compensation in the event of ship source oil pollution has evolved over the past three decades. The available international legal regime for oil pollution liability and compensation is playing a great role in governing a discharge of oil into the sea by ensuring liability for polluters and compensation for victims of pollution. Despite the fact that the total cost of the oil spill cannot be compensated through the available international civil liability regime and entire damages caused to the marine environment cannot be compensated or recovered. This paper examined the application and limitations of available liability and compensation mechanism for the protection marine pollution and compare the benefit of the establishment of a funding mechanism for the strengthening of the level of oil spill preparedness and the civil liability regime for the protection of the coastal and marine environment. In addition, this paper reviews the funding mechanism adopted by the countries to the strengthening the level of oil spill preparedness taken into account the polluter pays principle without a putting extra burden for the general taxpayers. The establishment of a system for the funding of oil spill preparedness using the polluter pay principle has immensely helped to improve the oil spill response capabilities and protection of the marine environment of coastal states which adopted a unique funding mechanism by applying the polluter pay principle. This paper recommends the among other thing review the available compensation and liability regime for the protection of the marine environment and recommend to adopt and apply a uniform funding mechanism for the strengthening of the level of oil spill preparedness taken into account the polluter pay principle for the protection of the marine environment and improve the status quo.