The costs and benefits of the underground storage tank corrective action requirements : qualitative and quantitative aspects

This research attempted to identify the costs and benefits associated with the underground storage tanks regulations mandated in 1988. The qualitative analysis of benefits was based on historical information on UST releases. Through the use of this data the range of potential impacts weis identified as well as a perception of the magnitude of those impacts. The analysis of direct costs associated with the corrective action requirements was quantitative in nature. The total costs were based on a cost simulation estimating the number of cleanups that would be expected to occur and a representative cost per cleanup. To determine the number of cleanups focus was on the total number of USTs in existence throughout the country and the percentage that would need cleanup. Data for the population of USTs was obtained from the Environmental Protection Agency. Data for the representative cost calculation was obtained from the Energy, Environment, and Resources Center at the University of Tennessee-Knoxville. It was concluded that the costs were significant in both relative and absolute terms and that the benefits, while positive, were not of a particularly large magnitude. These findings were substantiated by concerns raised regarding the legislative process under which the legislation was passed and by possible alternatives to the regulations that were adopted.