Oklahoma Puts Limits on Oil and Gas Wells to Fight Quakes
Okay, I take back what I said earlier. Trying to find a political solution to earthquakes sometimes works.
If only earthquakes were as affected-by-human-decisions everywhere.
(I’m curious: If people wanted to use the tax-on-externalities solution for injecting oil extraction wastes into the earth’s effect on earthquakes, how would that be implemented? Earthquakes have a nonzero base rate and vary a lot per year naturally, AFAIK.)
Calculate the expected yearly earthquake damages on the base rate and sum it over time; injectors pay for all damage exceeding the accumulated base rate sum.
For example, if the base rate was estimated to be $1M a year, four years without earthquakes followed to two quakes of $3M each would mean that the first one goes in the base rate and injectors owe $2M to the earthquake damage compensation fund after the second one.
3 months ago · 5 notes · source: ilzolende · .permalink
another-normal-anomaly reblogged this from ilzolende and added:I misread Quakes as Quakers and was like WTF why would you fight them
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socialjusticemunchkin reblogged this from ilzolende and added:Calculate the expected yearly earthquake damages on the base rate and sum it over time; injectors pay for all damage...
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