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

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