Operational dumping and the pollution of the sea by oil: An evaluation of preventive measures

The recent dispute over the impact of economic growth on the environment relative to the (predicted) physical limits imposed by the ecological system hinges on the role of pollution-preventive technology. This paper attempts a cost-effectiveness evaluation of alternative methods of preventing the largest source of marine oil pollution. The first major result of the analysis is that the technology which minimizes internal costs (and is favored by the oil companies) does not minimize the social costs of pollution prevention. The second is that relative to the price of oil the cost of pollution-prevention processes is very small indeed.