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Articles 1 - 7 of 7
Full-Text Articles in Law
Real-Time Economic Analysis And Policy Development During The Bp "Deepwater Horizon" Oil Spill, Joseph E. Aldy
Real-Time Economic Analysis And Policy Development During The Bp "Deepwater Horizon" Oil Spill, Joseph E. Aldy
Vanderbilt Law Review
The 2010 BP Deepwater Horizon oil spill posed near-term economic risks to the Gulf of Mexico region and raised questions about appropriate policies to mitigate catastrophic oil-spill risks. This Essay reviews the Obama Administration's assessment of the economic vulnerabilities to the spill, the Administration's May 12, 2010, legislative proposal focused on minimizing the adverse economic impacts to workers and small businesses in the Gulf of Mexico, and the effort to secure an agreement with BP to ensure that those harmed by the spill will receive full compensation. Then, the Essay discusses several of the policy reforms advanced by the Administration …
Coastal Wetland Restoration And The "Deepwater Horizon" Oil Spill, Edward B. Barbier
Coastal Wetland Restoration And The "Deepwater Horizon" Oil Spill, Edward B. Barbier
Vanderbilt Law Review
Both the 2005 Hurricanes Katrina and Rita and the 2010 BP oil spill have focused attention on the need to restore coastal wetland habitats along the Gulf of Mexico of the United States. As restoration is required by the Oil Pollution Act of 1990, restoring coastal wetlands will be required as part of BP's legal obligations. Although plans to restore the Mississippi River Delta are well on their way, the damages to the Gulf Coast wetlands caused by the Deepwater Horizon spill are still occurring and have yet to be fully assessed. At this critical time for wetland restoration in …
Deterring And Compensating Oil-Spill Catastrophes: The Need For Strict And Two-Tier Liability, W. Kip Viscusi, Richard J. Zeckhauser
Deterring And Compensating Oil-Spill Catastrophes: The Need For Strict And Two-Tier Liability, W. Kip Viscusi, Richard J. Zeckhauser
Vanderbilt Law Review
The BP Deepwater Horizon oil spill highlighted the glaring weaknesses in the current liability and regulatory regime for oil spills and for environmental catastrophes more broadly. This Article proposes a new liability structure for deep-sea oil drilling and for catastrophic risks generally. It delineates a two-tier system of liability. The first tier would impose strict liability up to the firm's financial resources, including insurance coverage. The second tier would be an annual tax equal to the expected costs in the coming year beyond this damages amount. Before beginning a risky operation, the proposed liability scheme would identify a single firm-the …
Deepwater Drilling: Law, Policy, And Economics Of Firm Organization And Safety, Mark A. Cohen, Madeline Gottlieb, Joshua Linn, Nathan Richardson
Deepwater Drilling: Law, Policy, And Economics Of Firm Organization And Safety, Mark A. Cohen, Madeline Gottlieb, Joshua Linn, Nathan Richardson
Vanderbilt Law Review
Although the causes of the Deepwater Horizon spill are not yet conclusively identified, significant attention has focused on the safety-related policies and practices-often referred to as the safety culture-of BP and other firms involved in drilling the well. This Article defines and characterizes the economic and policy forces that affect safety culture and identifies reasons why those forces may or may not be adequate or effective from the public's perspective. Two potential justifications for policy intervention are that: (1) not all of the social costs of a spill may be internalized by a firm; and (2) there may be principal-agent …
Deepwater Drilling: Law, Policy, And Economics Of Firm Organization And Safety, Mark A. Cohen
Deepwater Drilling: Law, Policy, And Economics Of Firm Organization And Safety, Mark A. Cohen
Vanderbilt Law Review
Nathan Richardson 64 Vand. L. Rev. 1853 (2011) Although the causes of the Deepwater Horizon spill are not yet conclusively identified, significant attention has focused on the safety-related policies and practices-often referred to as the safety culture-of BP and other firms involved in drilling the well. This Article defines and characterizes the economic and policy forces that affect safety culture and identifies reasons why those forces may or may not be adequate or effective from the public's perspective. Two potential justifications for policy intervention are that: (1) not all of the social costs of a spill may be internalized by …
Building A Latin American Coalition On Forests: Negotiation Barriers And Opportunities, Maria Banda, John Oppermann
Building A Latin American Coalition On Forests: Negotiation Barriers And Opportunities, Maria Banda, John Oppermann
Vanderbilt Journal of Transnational Law
This Article looks at how these difficulties might be remedied to allow Latin America to lead the world to a robust anti-deforestation agreement. Part I provides a concise background on the REDD talks at the 2009 Copenhagen Climate Conference, which serves as a useful illustration of the substantive and procedural challenges in the ongoing deforestation negotiations. It identifies the main stakeholders at the climate talks and the camps in which national delegations organized themselves at Copenhagen. It then reviews the major substantive roadblocks in the REDD negotiations and identifies a series of analytical, ideological, and structural barriers that impeded significant …
Gaming The Past: The Theory And Practice Of Historic Baselines In The Administrative State, J.B. Ruhl, James Salzman
Gaming The Past: The Theory And Practice Of Historic Baselines In The Administrative State, J.B. Ruhl, James Salzman
Vanderbilt Law Review
In 1988, candidate George H. W. Bush was in a tight race for the presidency, behind in the polls to the Democratic challenger, Michael Dukakis. Stung by the D+ grade given by the League of Conservation Voters, Bush was searching for a way to claw back some of the environmental vote.' He saw an opening in wetlands. Perceived as worthless swamps and wasted development opportunities for most of our nation's history, conversion of wetlands for agricultural and urban land uses has resulted in a staggering loss of resources. Beginning in the 1970s, however, views started to change, with growing recognition …