Environmental Assessment and Remediation of Oil and Gas Exploration and Production Sites
CROSS, EDWARD P.
Illinois Petroleum Resources Board, Mt. Vernon, IL
Environmental remediation and responsibility are important goals for today’s Illinois oil and gas producers and royalty owners. The Illinois Petroleum Resources Board (IPRB) environmental remediation programs improve the industry’s image and credibility by demonstrating industry resolve for environmental responsibility. The IPRB is committed to providing a practical and economical remedy for environmental problems caused by abandoned oil and gas exploration and production sites in Illinois. The IPRB risk-based environmental assessment and remediation processes follow recognized environmental standards specially adapted to meet the unique needs of the Illinois oil and gas industry. These processes allow IPRB environmental remediation projects to achieve environmental and economic efficiency.
The IPRB uses specially adapted risk-based environmental management processes to achieve environmental and economic efficiency. The IPRB goal to improve the image and credibility of the Illinois oil and gas industry is achieved through risk mitigation planning of environmental remediation projects. Environmental and economic efficiency is achieved when the incremental benefits of a remediation project, including private benefits and external social benefits, are equal to the incremental costs of the remediation project, including private costs of capital and external social costs. In addition to risk management, IPRB remediation projects are designed not only to cover the explicit costs of their completion, but also justify the cost of capital used in their pursuit. The IPRB fiduciary responsibility to Illinois oil and gas producers and royalty owners is met by employing the economics of environmental efficiency. Porosity/Permeability Trends in a basal Pennsylvanian channel sandstone, Caseyville Formation, Crawford County, Illinois