US Rep. Edward Markey (D-Mass.) introduced the “Stop Oil Spills Act” (SOS Act), a bill to fund research into new oil spill prevention and response technologies.
Following BP CEO Tony Hayward’s admission that his company did not have a “tool-kit” to respond to a sizeable spill from a deepwater well, Markey introduced the bill to create a research program to develop oil safety and spill response technologies.
The SOS Act is paid for by redirecting $50 million per year in oil and gas royalty payments that are now being used to subsidize industry development of deepwater drilling technologies to a Department of Energy grant program to develop next-generation technologies to prevent or stop offshore drilling spills.
The bill requires the Secretary of Energy, in consultation with the Secretary of Interior, within 6 months to establish a program to award support for the development, demonstration, and commercialization of innovative technologies to prevent, stop, or capture large-scale accidental discharges of oil or other hydrocarbons from offshore oil and gas drilling operations, including deep-water and ultra-deepwater operations.
Text of the SOS Act