A Cost Benefit Analysis of California's Leaking Underground Fuel Tanks

Robert Carrington-Crouch

University of California at Santa Barbara, Economics Working Paper Series from Department of Economics, UC Santa Barbara

Abstract: California has 28,000 leaking underground fuel tanks. Approximately 7,000 have been actively remediated at a cost of $1 billion. It will cost roughly $3 billion to actively remediate the remainder. This paper demonstrates that it is not worth incurring these costs. We show that passive, or intrinsic, bioremediation (“exploiting the metabolic activity of microorganisms to transform or destroy contaminants”) is the most cost-beneficial remediation technology to employ.

Keywords: Cost Benefit Analysis; Underground Fuel Tanks (search for similar items in EconPapers)
Date: 1996-06-01
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