Oil Transportation by Vessel Liability Act

Oil Transportation by Vessel Liability Act - Makes the owner and operator of a vessel (other than a public vessel) liable for all damages, cleanup costs, and interest resulting from such vessel. Limits the liability of such owner or operator unless: (1) there is gross or willful negligence or violations; or (2) there is a lack of cooperation. Sets forth specified defenses to such liability. Requires the Secretary of Transportation to report periodically to Congress concerning the desirability of adjusting the liability limitations. Prohibits any agreement transferring liability from the vessel owner or operator.

Sets forth the damages due to oil discharges for which claims may be made. Makes the President or authorized State representative public trustees of the natural resources. Permits claims by foreigners or foreign nations.

Establishes an Oil Cargo Liability Fund in the U.S. Treasury to be liable for all damages and cleanup costs not otherwise compensated by the owner or operator. Authorizes the Secretary of the Treasury to invest moneys in the Fund in U.S. interest-bearing special obligations. Directs the Secretary of Transportation to issue notes or other obligations to the Secretary of the Treasury if the money in the Fund is insufficient to pay any claim. Requires the Secretary of Transportation to report annually concerning such Fund.

Establishes an Oil Cargo Liability Fund Fee to be levied on each barrel of crude oil. Provides civil penalties for failures to pay such fee. Permits any person or the Fund which pays any claimant compensation under this Act to be subrogated to all rights and causes of action of such claimant. Directs the Attorney General, at the request of the Secretary, to recover any compensation paid by the Fund.

Sets forth the procedures to be followed in filing and pursuing a claim under this Act.

Requires vessel owners and operators to establish and maintain evidence of financial responsibility acceptable to the Secretary.

Authorizes the Attorney General to act on behalf of any group presenting claims.

Gives the public access to information concerning liability and compensation for oil discharge damages or cleanup costs.

Sets forth penalties for violating the provisions concerning evidence of financial responsibility.

Permits States to impose additional requirements, taxes, or liability for damages and cleanup costs with specified exceptions.

Amends the Outer Continental Shelf Lands Act Amendments of 1978, the Intervention on the High Seas Act, the Deepwater Port Act of 1974, and the Trans-Alaska Pipeline Authorization Act: (1) to repeal any separate liability provisions for oil discharge from vessels under such Acts; and (2) to provide coverage under the Oil Cargo Liability Fund.