ECONOMIC PRINCIPLES OF LIABILITY AND FINANCIAL RESPONSIBILITIES FOR OIL POLLUTION

The paper examines the economic issues involved in the imposition of liability for the damages caused by disasters in general and major oil spills in particular. The conclusions reached are the following: Unlimited liability with absolute fault is to be preferred to limited liability when one takes the welfare of society as a whole into account; It may be desirable to levy fines on polluters above payment of damages; Oil companies do not have a right to carry on polluting activities; and the government should make certain that financial responsibility is provided for. (Author).

  • Corporate Authors:

    Center for Naval Analyses

    1401 Wilson Boulevard
    Arlington, VA  USA  22209
  • Authors:
    • Horowitz, S A
  • Publication Date: 1971-3

Media Info

  • Pagination: 34 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00019196
  • Record Type: Publication
  • Source Agency: National Technical Information Service
  • Report/Paper Numbers: CNA-Prof. Paper-56
  • Files: TRIS
  • Created Date: Nov 8 1973 12:00AM