ABSTRACT
This chapter relates to the economic and financial impacts of oil spills and has three relevant sections. The first section describes the oil and gas industry system and identifies potential oil spills inside the system, as well as the response and recovery system after spills. The second section discusses the oil spill economic impacts and subdivisions, with a focus on various estimation methods. The third section summarizes economic impacts for some major oil spill accidents by comparing compensations, claims, and various estimated costs.
