Evaluating environmental concerns in oil pipeline proposals

They estimate that the value of a single-family property would increase by $245 for a one unit reduction in the sulfation level in the air,5 and the total increase in property values for the St. [...] Furthermore, there is a consistent relationship between these MWTP measures and the level of air pollution in each city, as well as the average income of its residents at the time of the study. [...] For example, when the hedonic pricing model is applied to the U. S. Superfund sites, where hazardous waste sites were put on the National Priorities List (NPL) and subsequently cleaned up with the Superfund, Kiel and Williams (2007) find that not all Superfund sites suffer the stigma of being on the NPL. [...] Well defined property rights—in this case, over a piece of land—give the owner the rights to claim the value the land generates, to control the land and decide on its uses, to exclude others from using the land, and to transfer the above rights to another person. [...] For example, when assessing the impact of the proposed Keystone XL project, the State Department of the US finds that annual GHG emissions can increase by 28−42% when rail is considered to partially or entirely replace pipeline for the transportation of crude oil from WCS to the Gulf coast.10 Not only is rail transportation less energy efficient and less economical,arguably it is also less safe th