Estimated costs and admissible claims linked to the Prestige oil spill

The current case study presents an evaluation of the societal costs caused by the Prestige oil spill. We conclude that the economic magnitude of the catastrophe caused by the Prestige oil spill is rather significant. Short-term losses in all affected economic sectors, cleaning and recovery costs, and all environmental losses accountable at this point, add to a lower bound estimate of EURO770.58 million (prices in 2001 currency), excluding all other financial and future possible losses. Such important losses justify future studies that assess potential costs and benefits derived from the application of preventive measures and other contingency plans. (c) 2005 Elsevier B.V. All rights reserved.