trending Market Intelligence /marketintelligence/en/news-insights/trending/8wzM5G40tMxuKhM47hhtZg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

US EPA nixes financial requirements on coal, petroleum products sector

European Energy Insights July 2020

As COVID-19 Wears On, Regulators Examine Moratorium Extensions, Cost Recovery

COVID-19 Mining Impacts — Mining Projects With At-Risk Production

Mining Insights Newsletter June 2020

US EPA nixes financial requirements on coal, petroleum products sector

The U.S. Environmental Protection Agency proposed not imposing financial responsibility requirements for facilities in the petroleum and coal products manufacturing industry under a section of the Comprehensive Environmental Response, Compensation, and Liability Act, or CERCLA.

The relevant section of the law requires certain facility classes to establish and maintain evidence of financial responsibility in line with the risks associated with production and other processes involving hazardous substances. Based on the examination of "modern management practices and modern environmental regulations," the EPA said it determined that petroleum and coal products manufacturers do not present a level of risk of taxpayer-funded response actions that warrant the financial responsibility requirements.

Comments on the proposal must be received by Feb. 21, 2020.

According to the EPA's review of U.S. Census data from 2016, there were 2,167 establishments in the U.S. classified as petroleum and coal products manufacturing facilities. Sites can be contaminated by a wide range of materials such as toxic organics like benzene, polychlorinated biphenyls, phenol and volatile organic hydrocarbons; and heavy metals such as barium, cadmium, chromium, copper, lead, selenium and zinc.

"Examination of market structures for the petroleum and coal products manufacturing industry further indicates comparatively low likelihood of default on environmental obligations at the expense of taxpayers and the government by companies in this industry. This economic performance, combined with the low impact to the [Hazardous Substance Superfund] by facilities with releases that happened under the modern regulatory framework, suggests that the degree of risk to the fund by this industry does not rise to a level that warrants imposing CERCLA Section 108(b) financial responsibility requirements," the EPA concluded.