To amend the Oil Pollution Act of 1990 to clarify the financial responsibility requirements for offshore facilities.

Amends the Oil Pollution Act of 1990 to revise general financial responsibility requirements for offshore facilities. Requires responsible parties (except as provided in provisions regarding deepwater ports) to maintain financial responsibility as described by this Act with respect to offshore facilities seaward of the U.S. coastline that are used for drilling for, producing, or processing oil or that have the capacity to transport, store, transfer, or handle more than 1,000 barrels of oil at any one time.

Sets the general amount of financial responsibility at $35 million. Provides that if the Secretary of the department in which the Coast Guard is operating determines that an amount of financial responsibility greater than such amount is appropriate based on an assessment of the facility's risk, the amount of financial responsibility required is equal to the lesser of: (1) the amount of liability for oil pollution to which the responsible party could be subjected with respect to the facility in a case in which the party would be entitled to limit liability; or (2) $75 million.

Provides that in cases where a person is the responsible party for more than one facility, evidence of responsibility need be established only to meet the maximum liability applicable to the facility having the greatest maximum liability.