Disutility analysis of oil spills: Graphs and trends

Ventikos, Nikolaos P.; Sotiropoulos, Foivos S.

Disutility analysis of oil spills: Graphs and trends

2014

Ventikos, Nikolaos P. | Sotiropoulos, Foivos S.

This paper reports the results of an analysis of oil spill cost data assembled from a worldwide pollution database that mainly includes data from the International Oil Pollution Compensation Fund. The purpose of the study is to analyze the conditions of marine pollution accidents and the factors that impact the costs of oil spills worldwide. The accidents are classified into categories based on their characteristics, and the cases are compared using charts to show how the costs are affected under all conditions. This study can be used as a helpful reference for developing a detailed statistical model that is capable of reliably and realistically estimating the total costs of oil spills. To illustrate the differences identified by this statistical analysis, the results are compared with the results of previous studies, and the findings are discussed.

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