In the last few weeks, two major barriers to renewed offshore oil drilling have fallen. In a decision on the Exxon-Valdez oil spill case, the Roberts Court severely limited liability for big spills. Now, President Bush has abrogated the executive order stopping offshore oil drilling. The only thing standing between new oilrigs and the ocean floor is Congress. In a time of fiscal crisis, environmentalists will have to make a strong case against the economic wisdom of offshore oil drilling to ensure that Congress does not pay dearly for its continued opposition. The benefit of punitive damages Congress and the …
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Richard L. Revesz
This is a guess essay from Richard L. Revesz, dean of New York University School of Law and co-author, with Michael A. Livermore, of Retaking Rationality: How Cost-Benefit Analysis Can Better Protect the Environment and Our Health, published by Oxford University Press.