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Important of an economic analysis.
Description of environmental issue.
Economic analysis of the environmental issue.
Understanding economical regulations to solve the environmental issue. Consider the impact of lifestyle choices on the issue.
Importance Economic Analysis
Estimates of pollution abatement costs by industry sector for several major air pollutants.
Investing in clean air generates exactly those returns in health benefits to the American Public.
Rules that keep our air safe to breath raked in annual benefits of $1.3 trillion compared to costs of only $53 billion in 2010 Benefits
The Majority of benefits come from reduction mortality, or early deaths quantified using what’s known as the value of Statistical Life (VSL)
How much you have to pay someone to take a more dangerous job.
To Calculate the benefits of clean air regulations, the EPA uses a value of $7.6 million for the VSL per early death avoided Risks
Without the regulations the Power Plant, manufacturing facilities, and cars would produce more pollution The cost of damages would have to be borne by the patients, employers and families of people affected by this pollution. Amendments are rolled back, this is exactly what we should expect to happen . Limitations
The EPA acknowledges that there are many costs of pollution that are too difficult to monetize.
Things like the effect of pollution on machinery prove too difficult to assign a dollar value.
Economic Analysis Application: Environmental Issues
Fish in the ocean
Oil in the ground.
Forests on land
(plastic, metals, cardboard, i.e. paper)
Clean air gasoline
Economic Analysis: Conservation
Studying past methods
Natural resources’ supply
Clean Air is under attack in Congress
Figures make you wonder what Legislators...