Sea oil Spill: An Approach Difficult to Overcome by Insurance and International Regulation

Abstract

Every form of human activities is yield to risk either by an accident or a disease, resulting in injury or death. Generating energy is not an exception. Although such a risk has been previously considered for conventional systems (coal, oil and nuclear), a similar analysis for the so-called alternative or non-conventional systems (solar, wind, ocean thermal and methanol) has been lacking. Nuclear power and natural gas has had the lowest risk rate, though.Risk is an important concept particularly in the fields of industry, environment, finance, law, health, and of course insurance. Knight Frank has proposed a distinction that distinguishes between risk and uncertainty: A risk can be assigned to mathematical probabilities but not to uncertainty. Risk is defined as the probability of occurrence of this event and the magnitude of its consequences (and hazardous issues). It can be applied to people, property, or the natural environment.We will examine the risk of oil pollution and its impact on sea environment.Our study will be oriented towards a new problem that has taken an increasingly important role and may become one of the major problems of our time: it is the pollution of our planet by artificial radio-elements resulting from the use of nuclear energy whose different applications are characterized by the appearance of radioactive waste, i.e. materials that spontaneously emitionizing radiation in which the radioactivity is artificially produced.