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Prevention, Cleanup, and Reuse Benefits from the Federal UST Program

Author

Listed:
  • Robin R. Jenkins
  • Dennis Guignet
  • Patrick J. Walsh

Abstract

This paper attempts to comprehensively identify all relevant benefit categories associated with prevention and remediation of releases from underground storage tanks (USTs), as well as from reuse of formerly (or potentially) contaminated UST sites. The benefit categories include improvements in human health, ecosystem services, aesthetics, recreational opportunities, and land productivity. A qualitative explanation of each benefit category is provided and examples of UST sites associated with each is offered. The suggestion is not that all the categories are associated with all UST sites. Instead, there is a great deal of variability across sites, as illustrated by four case studies presented in this paper’s appendix. The paper also offers background information on the problem of UST releases, as well as descriptions of the regulatory program and the population of regulated systems and facilities.

Suggested Citation

  • Robin R. Jenkins & Dennis Guignet & Patrick J. Walsh, 2014. "Prevention, Cleanup, and Reuse Benefits from the Federal UST Program," NCEE Working Paper Series 201405, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Nov 2014.
    • Handle: RePEc:nev:wpaper:wp201405
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    File URL: https://www.epa.gov/environmental-economics/working-paper-prevention-cleanup-and-reuse-benefits-federal-ust-program
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    References listed on IDEAS

    as
    1. Dennis Guignet, 2013. "What Do Property Values Really Tell Us? A Hedonic Study of Underground Storage Tanks," Land Economics, University of Wisconsin Press, vol. 89(2), pages 211-226.
    2. Robert Simons & William Levin & Arthur Sementelli, 1997. "The Effect of Underground Storage Tanks on Residential Property Values in Cuyahoga County, Ohio," Journal of Real Estate Research, Taylor & Francis Journals, vol. 14(1), pages 29-42, January.
    3. Robert Simons & Kimberly Winson-Geideman, 2005. "Determining Market Perceptions on Contamination of Residential Property Buyers Using Contingent Valuation Surveys," Journal of Real Estate Research, Taylor & Francis Journals, vol. 27(2), pages 193-220, January.
    4. Dennis Guignet, 2014. "To Sell Or Not To Sell: The Impacts of Pollution on Home Transactions," NCEE Working Paper Series 201401, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Jan 2014.
    5. Richard G. Walsh & John B. Loomis & Richard A. Gillman, 1984. "Valuing Option, Existence, and Bequest Demands for Wilderness," Land Economics, University of Wisconsin Press, vol. 60(1), pages 14-29.
    6. Robert A. Simons & William Bowen & Arthur Sementell, 1997. "The Effect of Underground Storage Tanks on Residential Property Values in Cuyahoga County, Ohio," Journal of Real Estate Research, American Real Estate Society, vol. 14(1), pages 29-42.
    7. Guignet, Dennis, 2012. "The impacts of pollution and exposure pathways on home values: A stated preference analysis," Ecological Economics, Elsevier, vol. 82(C), pages 53-63.
    8. Robert A. Simons & Kimberly Winson-Geideman, 2005. "Determining Market Perceptions on Contamination of Residential Property Buyers using Contingent Valuation Surveys," Journal of Real Estate Research, American Real Estate Society, vol. 27(2), pages 193-220.
    9. Bryan J. Hubbell & Jeffrey L. Jordan, 2000. "Joint Production and Averting Expenditure Measures of Willingness to Pay: Do Water Expenditures Really Measure Avoidance Costs?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(2), pages 427-437.
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    Cited by:

    1. Guignet, Dennis & Jenkins, Robin & Ranson, Matthew & Walsh, Patrick J., 2018. "Contamination and incomplete information: Bounding implicit prices using high-profile leaks," Journal of Environmental Economics and Management, Elsevier, vol. 88(C), pages 259-282.

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    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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