
The scientists developed a survey to put a dollar value on the natural resources damaged by the BP Deepwater spill by determining household willingness to pay for measures that would prevent similar damages should a spill of the same magnitude happen in the future. Survey information included descriptions of damaged beaches, marshes, animals, fish, and coral.On top of estimating the impact of the spill, the $17.2 billion represents the benefits to the public to protect against damages that could result from a future oil spill in the Gulf of a similar magnitude.
So their estimate of the cost of the spill is based on:
- How much survey respondents claim they might be willing to spend to save the cute animals, and keep their vacation spots pretty;
- Estimates of the cost of a program to prevent it from happening in the future.
That is now how you calculate costs!
We may still learn that this event was a civilization-ender.
And don't forget, nobody will ever do any prison time. The fact that the BP "Corporate Person" has not been executed for this is a crime against literal Humanity.
Previously, previously, previously, previously, previously, previously, previously, previously.