Deepwater Horizon was supposed to be the cutting edge of energy exploration: drilling five thousand feet below the surface of the Gulf of Mexico, the 0 million rig would be indispensable in helping to solve the ongoing energy crisis. Then, on April 20, 2010, BPs dismal safety record came home to roost. An explosion followed by a massive fireball resulted in eleven lives lost, the sinking of the rig, and the release of millions of barrels of crude oil into one of the worlds prime fishing grounds. The barrels suffocate the Gulfs watersthe resultant slick covers 2,500 square miles. Wildlife in the region is devastated, as is the human community dependent on harvesting the areas resources. This is the first book to appear on this environmental catastrophe, the largest offshore spill in American history. It provides a brief account of the disaster and the policy failures that caused itand lays out a blueprint to avoid future catastrophes.

This book presents both general and comprehensive observations of unsuccessful and successful experiences in water pollution trading programs within the U.S. These experiences help in understanding the major environmental, economic and regulatory barriers that prevent the application of pollution trading in water media to become successful.

Chapter 1 explains background of water quality and history of water pollution control policy and management. Chapter 2 provides economic background regarding pollution trading and essential elements for setting water quality trading programs.

Fundamental elements to understand the water pollution problem and factors needed for establishing water quality trading programs are thoroughly discussed. Chapters 3 and 4 present overall (generic) and comprehensive (specific) experiences (problems and success) regarding water quality trading with in the U.S. Finally, Chapter 5 provides suggested approaches for potential application and development of water quality trading programs.

This work combines background information with real experience, and gives recommendations for anyone who wants understand actual roles of trading and is interested in the development of a water quality trading program in the future.