OIL SPILLS: THE POLICY OF PREVENTION AND THE STRATEGY OF RECOVERY

A model of offshore petroleum production is constructed which contains a stochastic spill process where the amount spilled in the current period is conditional upon previous period production and other distribution parameters. The role of liability rules within the stochastic spill model is examined and an optimal liability rule derived. Existing and proposed federal legislation as well as current international conventions are discussed and their efficacy as a policy for spill prevention is evaluated. A model for the optimal location of recovery resources is developed and applied to coastal Massachusetts. Southern Cape Cod and the islands of Martha's Vineyard and Nantucket were found to be underprotected.

• Corporate Authors:

  University of Massachusetts, Amherst

  Water Resources Research Center
  Amherst, MA  United States  01002

  Office of Water Research and Technology

  C Street between 18th and 19th Streets, NW
  Washington, DC  United States  20242
• Authors:
  • Conrad, J M
• Publication Date: 1977-10

Media Info

• Pagination: 97 p.

Subject/Index Terms

• TRT Terms: Chemical reduction; Coasts; Crude oil; International law; Legislation; Liability; Loss and damage; Mathematical models; Offshore drilling platforms; Offshore oil industry; Offshore terminals; Oil spill cleanup; Oil spills; Petroleum; Petroleum terminals; Policy; Pollution; Prevention; Production; Regulation; Stochastic processes; Water pollution; Water quality management
• Uncontrolled Terms: Damage assessment; Recovery
• Geographic Terms: Cape Cod; Martha's Vineyard (Massachusetts); Massachusetts
• Old TRIS Terms: Government policies; Nantucket island; Oil recovery systems; Oil spill liability; Oil spill prevention; Reduction; Water pollution regulation
• Subject Areas: Data and Information Technology; Environment; Geotechnology; Law; Marine Transportation; Policy; Security and Emergencies;

Filing Info

• Accession Number: 00186685
• Record Type: Publication
• Source Agency: National Technical Information Service
• Report/Paper Numbers: PUB-93, OWRT-A-087-MASS(1)
• Contract Numbers: DI-14-34-0001-6022
• Files: TRIS
• Created Date: Feb 27 1979 12:00AM