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Superfund And Transaction Costs
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Book Synopsis Superfund and Transaction Costs by : Jan Paul Acton
Download or read book Superfund and Transaction Costs written by Jan Paul Acton and published by . This book was released on 1992 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lloyd Dixon, a RAND economist, recently testified before the U.S. House of Representatives Committee on Public Works and Transportation regarding transaction costs involved in the cleanup of hazardous waste sites. Transaction costs are those that do not contribute directly to the understanding or cleanup of a site. Insurer transaction costs, he stated, were high: 88% of the total expenditures. They were split between coverage disputes and defense of policyholders. For large firms who were potentially responsible parties (PRPs), transaction costs, primarily for legal counsel, averaged 21% of total outlays, but decreased proportionally as cleanup progressed. These costs varied across sites, averaging 7% of the total where only a single PRP was involved and 39% were multiple PRPs were. Dixon concluded his testimony by suggesting that these facts may not tell much about the future, since insurance coverage issues are still unresolved, PRPs involved in cleanup may yet sue non-participating PRPs, and insurers may pursue their reinsurers as their own losses mount.
Book Synopsis Superfund and Transaction Costs by : Lloyd S. Dixon
Download or read book Superfund and Transaction Costs written by Lloyd S. Dixon and published by . This book was released on 1992 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lloyd Dixon, a RAND economist, recently testified before the U.S. House of Representatives Committee on Public Works and Transportation regarding transaction costs involved in the cleanup of hazardous waste sites. Transaction costs are those that do not contribute directly to the understanding or cleanup of a site. Insurer transaction costs, he stated, were high: 88% of the total expenditures. They were split between coverage disputes and defense of policyholders. For large firms who were potentially responsible parties (PRPs), transaction costs, primarily for legal counsel, averaged 21% of total outlays, but decreased proportionally as cleanup progressed. These costs varied across sites, averaging 7% of the total where only a single PRP was involved and 39% where multiple PRPs were. Dixon concluded his testimony by suggesting that these facts may not tell much about the future, since insurance coverage issues are still unresolved, PRPs involved in cleanup may yet sue non-participating PRPs, and insurers may pursue their reinsurers as their own losses mount.
Book Synopsis Fixing Superfund by : Lloyd S. Dixon
Download or read book Fixing Superfund written by Lloyd S. Dixon and published by RAND Corporation. This book was released on 1994 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on the possible effect of the proposed Superfund Reform Act of 1994 on transaction costs resulting not from cleanup but from assigning liability for cleanup among the various parties.
Book Synopsis Private-sector Cleanup Expenditures and Transaction Costs at 18 Superfund Sites by : Lloyd S. Dixon
Download or read book Private-sector Cleanup Expenditures and Transaction Costs at 18 Superfund Sites written by Lloyd S. Dixon and published by RAND Corporation. This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report will be of interest to those evaluating Superfund's liability-based approach to cleaning up the thousands of abandoned or inactive sites across the U.S. that are contaminated with hazardous substances.
Book Synopsis RAND Research on Superfund Transaction Costs by : Lloyd S. Dixon
Download or read book RAND Research on Superfund Transaction Costs written by Lloyd S. Dixon and published by . This book was released on 1993 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication contains the written statement of Lloyd S. Dixon submitted on November 4, 1993 to the Subcommittee on Superfund, Recycling, and Solid Waste of the United States Senate Environment and Public Works Committee. The author addresses the following questions: What is our best estimate of transaction-cost share at Superfund sites to date? What will the transaction-cost share likely be when cleanup is complete? How does transaction-cost share vary by size of firm? What reforms might be considered to reduce transaction costs?
Book Synopsis Superfund Liability Reform by : Lloyd S. Dixon
Download or read book Superfund Liability Reform written by Lloyd S. Dixon and published by . This book was released on 1995 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Analyzing Superfund by : Richard L. Revesz
Download or read book Analyzing Superfund written by Richard L. Revesz and published by Routledge. This book was released on 2016-03-17 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1995, Analyzing Superfund outlines the key issues of the superfund reauthorization debate in the United States. The Superfund law faced criticism for being wasteful, inefficient and expensive. These papers sought to shed light on this argument in relation to clean-up standards, the liability regime, transaction costs and natural resource damage. This title will be of interest to students of Environmental Studies and professionals
Book Synopsis Project III: Development and testing of a methodology to identify the time, cost and enforcement aspects of Superfund remediations by : Center for Hazardous Waste Management
Download or read book Project III: Development and testing of a methodology to identify the time, cost and enforcement aspects of Superfund remediations written by Center for Hazardous Waste Management and published by . This book was released on 1989 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Superfund by : United States. General Accounting Office
Download or read book Superfund written by United States. General Accounting Office and published by . This book was released on 1994 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Rethinking Superfund by : John C. Butler
Download or read book Rethinking Superfund written by John C. Butler and published by . This book was released on 1991 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Understanding Superfund by : Jan Paul Acton
Download or read book Understanding Superfund written by Jan Paul Acton and published by . This book was released on 1989 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Superfund program, established by Congress in 1980 and reauthorized in 1986, is intended to handle emergencies arising from the release of hazardous wastes, to provide long-term cleanup for a limited number of sites, and to encourage more responsible disposal of hazardous wastes in the future. This report provides an overview of the Superfund program, its legal basis, and its sources of funds; presents a concise description of incentives and the major administrative steps taken in their application; provides an overview of the major indicators of program effect based on public data available from the Environmental Protection Agency and other selected sources; presents a short interpretation of some of the most interesting or puzzling findings; and outlines statistics and attempts to capture costs and activities for each of the major groups participating in the Superfund process. It also considers the transaction-cost issue, focusing on two of the key players in the cleanup process: very large companies (potentially responsible parties) and insurers that are brought into the hazardous-waste cleanup process by their policy holders' indemnity claims. It describes their experiences with Superfund and Superfund-type sites, and shows the division of their expenses between cleanup and transaction costs.
Book Synopsis The Financial Implications of Releasing Small Firms and Small-volume Contributors from Superfund Liability by : Lloyd S. Dixon
Download or read book The Financial Implications of Releasing Small Firms and Small-volume Contributors from Superfund Liability written by Lloyd S. Dixon and published by RAND Corporation. This book was released on 2000 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent congressional proposals to reform the federal Superfund program release potentially responsible parties (PRPs) that are small in size or that only played a minor role at the site from liability for cleanup costs. These reforms transfer the cleanup costs of parties released to the Superfund Trust Fund. This report estimates the number of PRPs that would be released and the cleanup costs that would be transferred to the Fund by recent proposals. It also estimates the costs transferred to the Fund per firm released and the financial consequences for those PRPs that remain liable. Releasing from liability firms that contributed only a small proportion of the waste to a site appears to be more cost-effective than releasing small firms. In addition, although there is evidence that large firms will benefit from the transfer of small firms' costs to the Fund, the effect of such a transfer is ambiguous. Implementing reforms that would release small firms or small-volume firms and transferring their volume-based cleanup costs to the Fund may prove costly in terms of additional transaction costs.
Book Synopsis Cleaning Up the Mess by : Thomas W. Church
Download or read book Cleaning Up the Mess written by Thomas W. Church and published by Brookings Institution Press. This book was released on 2001-05-16 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal Superfund program for cleaning up America's inactive toxic waste sites is noteworthy not only for its enormous cost - $15.2 billion has been authorized thus far - but also for its unique design. The legislation that created Superfund provided the Environmental Protection Agency with a diverse set of policy tools. Preeminent among them is a civil liability scheme that imposes responsibility for multimillion dollar cleanups on businesses and government units linked - even tangentially - to hazardous waste sites. Armed with this potent policy implement, the agency can order the parties who are legally responsible for the toxic substances at a site to clean it up, with large fines and damages for failure to comply. EPA can also offer conciliatory measures to bring about voluntary, privately financed cleanup; or it can launch a cleanup initially paid for by Superfund and later force the responsible parties to reimburse the government. In this book, Thomas W. Church and Robert T. Nakamura provide the first in-depth study of Superfund operations at hazardous waste sites. They examine six Superfund cleanups, including three regions and both 'hard' and 'easy' sites, to ask 'what works?' Based on detailed case studies, the book describes various strategies that have been applied by government regulators and lawyers and the responses to those different strategies by businesses and local government officials. The authors characterize the implementation strategies used by the EPA as prosecution, accommodation, and public works. They point out that the choice of strategy involves setting priorities among Superfund's competing objectives. They conclude that the best implementation strategy is one that considers the context of each site and the particular priorities in each case. Looking toward the reauthorization of Superfund, they also offer recommendations for improvements in the organization of the program and discuss proposals for change in its liability scheme.
Author :United States. Congress. Senate. Committee on Environment and Public Works. Subcommittee on Superfund, Waste Control, and Risk Assessment Publisher : ISBN 13 : Total Pages :1364 pages Book Rating :4.F/5 ( download)
Book Synopsis Superfund Reassessment and Reauthorization by : United States. Congress. Senate. Committee on Environment and Public Works. Subcommittee on Superfund, Waste Control, and Risk Assessment
Download or read book Superfund Reassessment and Reauthorization written by United States. Congress. Senate. Committee on Environment and Public Works. Subcommittee on Superfund, Waste Control, and Risk Assessment and published by . This book was released on 1996 with total page 1364 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Environment and Public Works. Subcommittee on Superfund, Recycling, and Solid Waste Management Publisher : ISBN 13 : Total Pages :932 pages Book Rating :4.3/5 (121 download)
Book Synopsis Superfund Reauthorization by : United States. Congress. Senate. Committee on Environment and Public Works. Subcommittee on Superfund, Recycling, and Solid Waste Management
Download or read book Superfund Reauthorization written by United States. Congress. Senate. Committee on Environment and Public Works. Subcommittee on Superfund, Recycling, and Solid Waste Management and published by . This book was released on 1994 with total page 932 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Transportation and Infrastructure. Subcommittee on Water Resources and Environment Publisher : ISBN 13 : Total Pages :1512 pages Book Rating :4.3/5 (121 download)
Book Synopsis Superfund Reauthorization by : United States. Congress. House. Committee on Transportation and Infrastructure. Subcommittee on Water Resources and Environment
Download or read book Superfund Reauthorization written by United States. Congress. House. Committee on Transportation and Infrastructure. Subcommittee on Water Resources and Environment and published by . This book was released on 1996 with total page 1512 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Assigning Liability for Superfund Cleanups by : Katherine N. Probst
Download or read book Assigning Liability for Superfund Cleanups written by Katherine N. Probst and published by Routledge. This book was released on 2014-04-04 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: While more than 2,700 emergency removals of hazardous materials have taken place under Superfund, implementing the long-term cleanup program has been the object of considerable controversy. One of the most contentious issues is whether the liability standards in the law should be revised. The authors analyze the pros and cons associated with the current liability approach, as well as with a variety of alternative strategies.
