Property Damage vs Release Volume

While we should view database-input information suspiciously, insights may nonetheless emerge.  Joel Anderson recently compared the reported property damage costs with the reported release volumes in PHMSA data 2010 to 2018. spill vol vs prop damage cost This is just pipeline spills, excluding tanks, etc.   Note this plot is log-log scale so small changes can equate […]

Statistical Life Valuation

As monetization of risk becomes more mainstream, values must be assigned to the potential for human injury or fatality.  The risk assessor need not generate values himself since such numbers are published in various sources.  This includes values that have been used in US government decision-making for years. Here is some example guidance:  VSL Guidance 2013 […]