Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171048
Authors: 
Mason, Charles F.
Year of Publication: 
2017
Series/Report no.: 
CESifo Working Paper 6584
Abstract: 
On April 20, 2010, the Macondo well suffered a blowout, causing the mobile offshore drilling unit "Deepwater Horizon" to explode and eventually sink. Oil flowed from the well into the Gulf of Mexico for 87 days. In the aftermath of this event, the US Government proposed significant regulatory changes related to offshore oil and gas exploration and production. In this paper I consider the likely costs and potential benefits from these new regulations. While both costs and benefits are very large, plausibly running into billions of US Dollars, a strong case can be made in favor of the regulations.
Subjects: 
public policy
oil spills
catastrophe
JEL: 
D61
H00
Q58
Document Type: 
Working Paper

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