Oil Transfer Liability Act

Oil Transfer Liability Act - Makes responsible parties for vessels and onshore facilities, with respect to the transfer of oil between such parties, jointly, severally, and strictly liable for any removal costs and damages arising out of a discharge of such oil. Creates a rebuttable presumption that either party could have acted to prevent, minimize, or mitigate such discharge. Lists covered damages as damages wtih respect to: (1) natural resources or real or personal property; (2) loss of subsistence use of natural resources; and (3) loss of revenues, profits, or earning capacity due to the damaging of property or resources. Provides for liability of third parties. Sets forth defenses to liability.