Oil Spill Response and Assistance Act

Oil Spill Response and Assistance Act - Amends the Oil Pollution Act of 1990 to direct the Secretary of Energy, within two years, to require the development and deployment of certain technology for use in the event of a breach or explosion at, or a significant discharge of oil from, a deepwater port, offshore facility, or tank vessel (covered event), including: (1) technology for use in capping underwater oil wells that is effective at water depths at least 2,000 feet deeper than the limits of oil and gas production on the outer continental shelf as of the date of enactment of this Act; (2) flameproof booms capable of functioning in the open ocean with six-foot waves; and (3) remote operated vehicles for use in the open ocean that are capable of welding and cutting or torching below 15,000 feet of water. Requires the purchase and deployment of such technologies in such locations throughout the United States as would permit their use within 24 hours of a covered event.

Doubles the limits on the total of the liability of, and the removal costs incurred by or on behalf of, the party responsible for a vessel or a facility from which oil is discharged into or upon navigable waters, adjoining shorelines, or the exclusive economic zone. Increases such a limit to the amount of a party's aggregate net after-tax profits generated during the four full financial reporting quarters preceding the date of an incident if that amount exceeds the limit otherwise applicable.

Makes this Act effective on April 15, 2010.

Requires the head of a federal agency that has carried out an activity with respect to the oil spill that occurred in the Gulf of Mexico in April 2010 to study and report to Congress on the effectiveness of the coordination of, and the success of, federal government actions relating to the spill.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov