National Oil Pollution Liability and Compensation Act

National Oil Pollution Liability and Compensation Act - Establishes a National Oil Pollution Compensation Fund in the Treasury of the United States for the purpose of paying otherwise uncompensated losses resulting from oil pollution. Enumerates the sources of moneys to be deposited in such fund, including a fee not to exceed three cents per barrel of oil, imposed upon owners of facilities involved in the transportation of oil. Authorizes the Secretary of Transportation to issue obligations to the Secretary of the Treasury at times when fund assets are insufficient to meet fund liabilities.

Imposes joint, several, and strict liability upon the owners and operators of oil pollution sources. Specifies liability limits, except in cases of gross negligence or willful misconduct, for owners and operators of vessels and facilities. Requires owners of such vessels and facilities to maintain evidence of financial responsibility in an amount sufficient to satisfy applicable liability limits.

Stipulates items which shall be recoverable as damages under this Act for losses resulting from discharges of oil. Establishes procedures for the administration of claims under this Act by the Secretary of Transportation.

Authorizes the Secretary of Transportation to act on behalf of the public as trustee of the natural resources to recover for damages to such resources and for cleanup costs. Authorizes the Attorney General to act on behalf of groups of persons damaged by oil spills. Authorizes foreign claims for damages arising within the jurisdiction of the United States.

Stipulates that documents and information relating to oil spill liability and compensation shall be made available to the public within specified limits as governed by the Freedom of Information Act.

Directs the Secretary of Transportation to submit annual reports to Congress on the administration of the fund.

Authorizes the appropriation of the following sums for the administration of this Act: $10,000,000 for fiscal year 1978; and $5,000,000 per year for fiscal years 1979 and 1980.