Walter B. Parker Act, which was signed into law in 1980 by U.S. President Jimmy Carter. On March 24, 1989, the Exxon Valdez oil tanker struck Bligh Reef in Prince William Sound, spilling an estimated 260,000 to 750,000 barrels of crude oil. The Exxon Valdez oil spill was a major environmental disaster for the state. Governor Steve Cowper, who held office at the time of the spill, appointed Walter Parker as the chairman of the Alaska Oil Spill Commission in 1989. The Alaska Oil Spill Commission was created by the Alaska state government to investigate the causes of the Exxon Valdez oil spill.
Oil tanker designs suffered from stability problems caused by the free surface effect, where oil sloshing from side to side could cause a ship to capsize. But this approach of dividing the ship's storage space into smaller tanks virtually eliminated free-surface problems. This approach, almost universal today, was first used by Swan in the Nobel tankers "Blesk", "Lumen", and "Lux". Others point to , another design of Colonel Swan, as being the first modern oil tanker. It adopted the best practices from previous oil tanker designs to create the prototype for all subsequent vessels of the type. It was the first dedicated