Cozen O’Connor has grown its Public and Project Finance Practice Group in New York with the recent hiring of Gregory M. Tears, who joins the firm as a member.
Energy production in the United States is at an all-time high. In 2013, an average 7.5 million barrels of oil were pumped every day, which bested the previous production record (2012) by one million barrels. Domestic oil production has increased every year from 2011 to 2013. By comparison, between 1971 and 2011, oil production in the United States decreased 29 of the 40 years. Regardless of whether this level of domestic production can be sustained for the long term, elevated domestic oil production is a reality for the near future. Unfortunately, more oil production and the by-products that are created as a result of that production, increases the likelihood a spill or release will occur that can damage property and give rise to an insurance claim.
Abby Sher, of the Philadelphia office, will be co-presenting on the topic of SIRs/Deductible Issues. Also, David Brisco, of the San Diego office, will be presenting on the topic