Environmental Economics
The cromulent economics blog
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Category: Deepwater Horizon blowout
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The AERE Newsletter is available here: http://www.aere.org/newsletters/documents/AERE%20Newsletter%20May%202016%20%20FINAL.pdf
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The court approved the settlement between the government and BP for the Deepwater Horizon NRDA: Today—nearly six years after the Deepwater Horizon oil spill began—the court approved a settlement with BP for natural resource injuries stemming from the spill. This settlement concludes the largest natural resource damage assessment ever undertaken. We will now begin implementing…
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Shelley DuBois at Retraction Watch: A controversy surrounding a 2014 Journal of Environmental Management paper has tapped into a larger scientific and economic issue — how to tally up the damage after an oil spill. The original paper, called “A revealed preference approach to valuing non-market recreational fishing losses from the Deepwater Horizon oil spill,”…
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Go to the Deepwater Horizon Response & Restoration website and click on: 5. Preassessment/Assessment 5.15 Other lines of investigation 5.15.3 Other materials Obvious, right? You'll see a bunch of memos from the "Total Value Team" that can be pieced together to form a coherent report. Here is the bottom line:
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Here is the introduction: In his comment, Train (2015) claims to have uncovered “numerous errors and misstatements” in our recently published article (Alvarez et al., 2014) and accompanying corrigendum (Alvarez et al., 2015), yet close inspection reveals that all these errors and misstatements have been discussed at length in the article and corrigendum. This document outlines Train's…
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The DOJ announced that the Trustees in the BP Deepwater Horizon NRDA case have proposed to accept the settlement in principle with BP. The numbers appear to be pretty much the same as previously announced, with additional payments of $500 million for unanticipated restoration (in addition to the $232 million originally announced), $350 million for…
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Today in natural resource damage assessment: A shipping company will pay Hawaii more than $15 million to settle a spill that put 233,000 gallons of molasses into Honolulu Harbor in 2013. The $15.4 million settlement — a combination of cash, restoration and funding of environmental programs — from Matson Navigation Company will reimburse Hawaii for…
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At today's exchange rates, a Canadian one dollar coin is worth about $0.78. But right over the border, this is different: Minnesota loons could benefit from an $18.7 billion legal settlement over the massive 2010 Gulf of Mexico oil spill, a Department of Natural Resources official said Wednesday. Minnesota could receive up to $25 million…
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After yesterday's announcement of a tentative settlement between BP and federal and state negotiators, BP has provided details of the payment schedule for the $18.7B settlement. The settlement consists of payments for civil penalties ($5.5B), natural resource damages ($7.33B), and state damages ($4.9B) over 18 years. An additional $1B is set aside for payments to…
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I think I've scooped all of the other environmental economics bloggers on this one (the story is from the ABC TV station in Fresno): Officials in Florida, Alabama, Mississippi and Louisiana announced an $18.7 billion settlement with BP on Thursday that resolves years of litigation over the 2010 Gulf of Mexico oil spill. The settlement…
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