Oil Pollution Liability and Compensation Act of 1986

[AI summary unavailable — showing source text] Oil Pollution Cleanup Act of 1986 - Title I: Oil Pollution Liability and Compensation - Establishes the Oil Spill Compensation Fund. Makes vessel owners or operators of onshore or offshore facilities liable for removal costs and for economic and natural resource damages including: (1) injury or loss of real or personal property or natural resources; (2) loss of use (including subsistence use) of natural resources; (3) loss or impairment of income, profits, or earning capacity; and (4) loss of tax, royalty, rental or net profits share revenue for not more than one year. Establishes liability limits for: (1) owners and operators of tankers; (2) vessels; (3) lessees and permittees of outer continental shelf facilities; (4) inland barges; and (5) other facility owners. Authorizes the President to establish lower liability limits for other onshore or offshore facilities, and to periodically adjust liability limits in accordance with the Consumer Price Index. Makes the President (or the authorized representative of any State or foreign government) the trustee to act on behalf of the public to recover damages for injury to Federal, State, or foreign government natural resources. Makes the…