Risk Assessment Oil and Gas

Risk assessment and Natural Resource Damage Assessment

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3.2.3. Risk assessment and Natural Resource Damage Assessment
In US environmental decision processes there is a mechanism for governments to seek monetary compensation for environmental damage resulting from some activity. To fix a cost on the damage, a Natural Resource Damage Assessment is conducted. This assessment, unlike a risk assessment, is retrospective. It attempts to reconstruct, quantitatively the magnitude of damage that took place. Like a risk assessment, there may be elements of estimation and uncertainty, but the probabilities involved are about fundamentally different events. In a natural resource damage assessment, the uncertainty is about what actually did happen in the past, whereas in a risk assessment the uncertainty is about what might potentially happen in the future.

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