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).
Center for Naval Analyses1401 Wilson Boulevard
Arlington, VA USA 22209
- Horowitz, S A
- Publication Date: 1971-3
- Pagination: 34 p.
- TRT Terms: Loss and damage; Water quality management
- Uncontrolled Terms: Damage assessment
- Subject Areas: Environment; Marine Transportation;
- 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