: ‘Norfolk Southern will pay for the harm it has caused’ in Ohio derailment, says GOP senator

by | Mar 8, 2023 | Stock Market

On the eve of testimony by Norfolk Southern Corp. CEO Alan Shaw on Capitol Hill, Sen. Shelley Moore Capito of West Virginia said that the rail carrier will pay for the environmental impact of the disastrous train derailment in East Palestine, Ohio. The Senate Committee on Environment and Public Works will hold a hearing on the Feb. 3 derailment of the train carrying hazardous materials on Thursday.

“Norfolk Southern will pay for the harm it has caused, as required by the CERCLA Act, which is the Comprehensive Environment Response, Compensation, and Liability Act,” said Capito, who is the top Republican member of the committee. “Norfolk Southern will be held completely liable, and no expense should be spared in their cleanup efforts.” Related: After disastrous Ohio derailment, Norfolk Southern announces 6-point safety plan CERCLA provides a federal “superfund” to clean up accidents, spills and emergency releases of pollutants and contaminants into the environment. Through CERCLA, the Environmental Protection Agency has power to hold parties responsible for such releases and to compel their cooperation in the cleanup. “The liabilities for Norfolk Southern under CERCLA are among the broadest and strictest in our federal laws, so there’s no gray area there,” Capito added. Norfolk Southern’s
stock, which has fallen 14.7% since the Feb. 3 derailment, rose 0.2% Wednesday. Now read: Ohio derailment a ‘PR nightmare’ for Norfolk Southern and the rail industry Capito said she has already read most of the statement that Shaw plans to give tomo …

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