The purpose of this section is to establish a compensation schedule that will provide a simple methodology for assessing damages to public resources from oil spills into fresh, marine, and estuarine waters of the state. The intent is to provide an alternate methodology to the extensive and expensive natural resource damage assessments presently being conducted following oil spills. This section provides the procedures for:

(1) Establishing the relative vulnerability of public resources to oil spills by taking into consideration the relative toxicity of the oil spilled and the sensitivity of public resources present in the receiving environment; and

(2) Determining adequate monetary compensation for injury to public resources resulting from an oil spill.