Cost-benefit analysis of remediation methods for the Fairfax, Virginia Texaco terminal oil plume

This paper's objective is to determine the best approaches for clean-up of an underground oil leak using cost-benefit analysis. The background aspects of the leak, including a description and history of the oil plume, aspects of the site, and applicable Federal and local regulations, are discussed. Several remediation methods are chosen for examination. The costs associated with each method are estimated. An analysis of the area's property value data using the hedonic approach to benefits estimation is also conducted. Costs of the clean-up of the oil plume are compared to the benefits. It was determined that the amount of estimated benefits from restoration programs is $7.6 million. Based on this information and the cost data, the microbial fence / hydraulic containment method and the enhanced groundwater extraction / hydraulic containment method should be considered as remediation approaches.

Name thesis:degree_name

Master of Arts

Level thesis:degree_level

masters

Discipline thesis:degree_discipline

Economics

Department dc:contributor.department

Economics

Grantor dc:publisher

Virginia Tech

Year dc:date.issued

1994

Author dc:creator

• Klemmer, Katherine Alyn

Statement dc:rights

• In Copyright

Licence dc:rights.uri

• http://rightsstatements.org/vocab/InC/1.0/

Language dc:language.iso

en

Dc Identifier Other

etd-06112009-063524

OAI identifier oai:identifier

oai:vtechworks.lib.vt.edu:10919/43164