Assemblymember Patricia A.

Fahy
Representing Albany, Bethlehem, Guilderland, and New Scotland
For Immediate Release
May 13, 2015

ASSEMBLYMEMBER FAHY REINTRODUCES PETROLEUM STORAGE

SURETY BILL; NAMED CHAIR OF SUBCOMMITTEE FOR
OVERSIGHT OF DEPT. OF ENVIRONMENTAL CONSERVATION
ALBANY, N.Y. (May 13, 2015) Assemblymember Patricia A. Fahy (D-Albany) has reintroduced
legislation that would ensure that the storage of crude oil must meet certain financial requirements to
prevent taxpayers from being responsible in instances of inadvertent crude oil shipment accidents.
Since I introduced this legislation just one year ago, the growth of crude oil transportation has continued
to climb. With storage facilities right here at the Port of Albany, cities like Albany are at a convergence
upon two major oil freight lines. A disaster with these trains can come with devastating consequences as
weve seen in a number of communities in North America. This bill ensures that crude oil operators and
storage facilities are responsible for their actions, not taxpayers or the public at large, said
Assemblymember Fahy.
The Petroleum Storage Surety bill would apply to crude oil stored at all bulk storage facilities in New
York State and require financial security to meet all responsibilities for cleanup and decontamination
costs associated with the release of such oil.
Recently, the Albany Times Union, in an editorial dated May 7, wrote, The United States, however,
remains without such federal or state insurance mandates. New York does have an oil spill cleanup fund,
paid for in part by a tax on oil shipments; it will rise from $25 million to $40 million this year. But thats
a pittance. The rail and oil industries, not the public, should be required to carry coverage proportionate to
the damage these trains can do.
A business may achieve this by indicating evidence of insurance, a letter of credit, or a bond from a
corporate surety licensed to do business in New York State. The transport of crude oil by rail has
increased exponentially nationwide over the past five years, from over 9,000 carloads of crude oil in 2008
to over 400,000 in 2013, and the need for storage facilities has expanded accordingly.
Additionally, Assemblymember Fahy has been named by Speaker Carl E. Heastie has the new chair of the
Assemblys Subcommittee of Oversight of the Department of Environmental Conservation, as part of the
Assemblys Environmental Conservation Committee.
I thank Speaker Heastie for this appointment and look forward to working with my colleagues and the
advocates to aggressively protect our environment and natural resources while strengthening
our sustainability efforts, said Fahy.
The subcommittee is comprised of Assemblymember Crystal Peoples-Stokes (D-Buffalo) and
Assemblymember Matthew Titone (D-Staten Island).
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