Company: SRV
Filing Date: 2025-01-14
Form Type: 424B2
Source: 0001398344-25-000635
Chunk: 65

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-01-14
Form: 424B2
Chunk 65
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 pipelines, refineries and other facilities are subject to stringent and complex federal, state and local environmental laws and regulations. These include, for example:

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| ● | the                                                                                             
 federal Clean Air Act and comparable state laws and regulations that impose obligations related 
 to air emissions.                                                                               |

| ● | the                                                                                       
 federal Clean Water Act and comparable state laws and regulations that impose obligations 
 related to discharges of pollutants into regulated bodies of water.                       |

| ● | the                                                                                       
 federal Resource Conservation and Recovery Act (“RCRA”) and comparable state              
 laws and regulations that impose requirements for the handling and disposal of waste from 
 facilities; and                                                                           |

| ● | the                                                                                              
 federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 (“CERCLA”), 
 also known as “Superfund,” and comparable state laws and regulations that regulate               
 the cleanup of hazardous substances that may have been released at properties currently or       
 previously owned or operated by midstream energy companies or at locations to which they         
 have sent waste for disposal.                                                                    |

Failure to comply with these laws and regulations may trigger a variety of administrative, civil and criminal enforcement measures, including the assessment of monetary penalties, the imposition of remedial requirements, and the issuance of orders enjoining future operations. Certain environmental statutes, including RCRA, CERCLA, the federal Oil Pollution Act and analogous state laws and regulations, impose strict, joint and several liability for costs required to clean up and restore sites where hazardous substances have been disposed or otherwise released. Moreover, it is not uncommon for neighboring landowners and other third parties to file claims for personal injury and property damage allegedly caused by the release of hazardous substances or other waste products into the environment.

There is an inherent risk that midstream energy companies may incur environmental costs and liabilities due to the nature of their businesses and the substances they handle. For example, an accidental release from wells or gathering pipelines could subject them to substantial liabilities for environmental cleanup and restoration costs, claims made by neighboring landowners and other third parties for personal injury and property damage, and fines or penalties for related violations of environmental laws or regulations. Moreover, the possibility exists that stricter laws, regulations or enforcement policies could significantly increase the compliance costs of midstream energy companies, and the cost of any remediation that may become necessary. Midstream energy companies may not be able to recover these costs from insurance.

Proposals for voluntary initiatives and mandatory controls are being discussed both in the United States and worldwide to reduce emissions of “green