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Category: Legal, Fines

Application of a value-based equivalency method to assess environmental damage compensation under the European Environmental Liability Directive

Abstract: The Environmental Liability Directive (ELD) establishes a framework of liability based on the ‘polluter-pays’ principle to prevent and remedy environmental damage. The ELD requires the testing of appropriate equivalency methods to assess the s… more »

Study: NOAA’s proposed fines risk over-fishing - Report defines economic formula for deterring marine-life destruction

Anyone who has pet an elephant seal or harvested a haul of under-sized snapper might already know these actions can trigger hefty fines from the U.S. government. Threatening certain kinds of protected marine life causes serious environmental risks a… more »

ConocoPhillips Company and Sasol North America Agree to Reimburse Costs for Calcasieu Estuary, Bayou Verdine Cleanup - Agreement will reimburse EPA Superfund over $4.5 million, resolve nearly $1.2 million in natural resource damages assessment costs

The Department of Justice, the Environmental Protection Agency and the United States Attorney’s Office announced on October 13, 2010, the settlement of claims against ConocoPhillips Company and Sasol North America Inc. to resolve their liability to EPA u… more »

Compensatory Restoration in a Random Utility Model of Recreation Demand

Abstract: Natural Resource Damage Assessment cases often call for compensation in non-monetary or restoration equivalent terms. In this article, we present an approach that uses a conventional economic model, a travel cost random utility model of site ch… more »