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TeachMeFinance.com - explain Oil spill contingency fund Oil spill contingency fund The term 'Oil spill contingency fund' as it applies to the area of reclamation can be defined as ' A revolving fund for spill control efforts has been authorized in cases where the Federal government has taken over containment and cleanup operations. The fund is administered by the U.S. Coast Guard. Once the responsible party is determined, they are required to reimburse the fund for the oil removal costs'. Previous 5 Terms: oikology Oil Oil company use Oil reservoir Oil shale Next 5 Terms: Oil stocks Oil well Oil well (casing head) gas Oilseed crops okapi About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.