Homeland Security Secretary Janet Napolitano applauded the Congress for acting quickly to send the bill to President Barack Obama. The bill "will allow the Coast Guard to continue leveraging every available resource to protect our vital shorelines from BP's leaking oil," Napolitano was quoted as saying.

"Lifting the Oil Spill Liability Trust Fund spending cap by moving monies from the principal fund to the emergency fund will enable the federal on-scene coordinator to continue directing funds for critical administration-wide response activities in advance of reimbursement by BP, as a responsible party," Napolitano said. "While these funds will allow us to continue mounting an all-hands-on-deck, relentless response, our commitment to holding BP accountable for all costs associated with this disaster both to the federal government and to all affected individuals and businesses suffering losses as a result of this event has not wavered."

Napolitano and National Incident Commander Thad Allen had written to Obama administration officials last Friday, urging the Congress to supply funding to the Oil Spill Liability Trust Fund and warning that the coffers would run dry within two weeks. They asked that the Coast Guard be able to receive advances of up to $100 million each from the principal fund to the emergency fund and that the Congress approve such a provision upon return from a current recess.

As of June 1, obligations against the emergency fund totaled $93 million, according to the Napolitano-Allen letter to the House and Senate leadership.

--Christine Forster, christine_forster@platts.com