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Republicans in Congress have blocked any new rules for offshore drilling and new spending for regulation and have not acted on proposals to raise the liability cap.
Also on Tuesday, Senate Republicans blocked for a second time a Democratic plan to raise the liability limit for oil spills to $10 billion from $75 million.
The decision could raise the liability of German banks for the complicated financial products they sell and affect other banks doing business in the country.
Members of the Drill, Baby, Drill Party have blocked efforts to raise the liability limits for oil spills, and have yet to muster a single sponsor for climate legislation.
There's a bill afoot in the Senate to raise the liability limit to $10 billion, but Republicans have blocked it twice, arguing that liability limits that high will push little mom-and-pop offshore drilling platforms and supertanker operations out of the business and reduce competition.
Ms. Murkowski, who has received $434,000 from the industry since 2002 and whose state economy is particularly linked to the industry, last month blocked the Senate from considering a measure that would raise the liability limit for an oil company's legal exposure to $10 billion from $75 million, saying it could hurt smaller companies and produce "unintended consequences".
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There are some reforms only Congress can make, like raising the liability limits for spills.
The political left was distressed that the commission hadn't come out for banning offshore drilling, or for eliminating, not simply raising, the liability cap for oil companies.
On the floor Tuesday morning, Inhofe also argued that by raising the liability level too high, the government would make it prohibitively expensive for smaller oil companies to operate offshore.
This raises the liabilities of pension funds (since it takes more money to deliver the same pension).
Nevertheless, outsourcing does generate some problems, as outsourcing usually reduces an organization's control over how certain services are delivered, which in turn may raise the organization's liability exposure (Dominguez, 2006).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com