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The potential value of improved ocean observation systems in the Gulf of Mexico

Author

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  • Kaiser, Mark J.
  • Pulsipher, Allan G.

Abstract

A number of coastal and ocean observation systems exist throughout the Gulf of Mexico (GOM), but the network of systems is not currently linked or integrated and at present not fully implemented. The network of local systems are diverse, typically involving unique mandates and several different funding sources at various levels of permanence. The purpose of this paper is to describe the ocean observation systems that currently exist in the GOM, and to identify and quantify the expected economic benefits that may result from the implementation of an integrated regional network. Improved ocean observation systems are expected to reduce the uncertainty of ocean/weather forecasting and to enhance the value of ocean/weather information throughout the Gulf region. The source of benefits and the size of activity from which improved ocean observation benefits may be derived are estimated for private sector, non-market, and public sector activities categorized according to marine transportation, commercial fishing, recreational fishing, search and rescue operations, and pollution management. The benefits of improved ocean observation systems to energy exploration, development, and production activities are estimated, and a discussion of potential benefits to lightering activities, environmental monitoring, royalty payments, and engineering design are highlighted.

Suggested Citation

  • Kaiser, Mark J. & Pulsipher, Allan G., 2004. "The potential value of improved ocean observation systems in the Gulf of Mexico," Marine Policy, Elsevier, vol. 28(6), pages 469-489, November.
    • Handle: RePEc:eee:marpol:v:28:y:2004:i:6:p:469-489
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    Citations

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    Cited by:

    1. Galioto, F., 2018. "The value of information for the management of water resources in agriculture: comparing the economic impact of alternative sources of information to schedule irrigation," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277384, International Association of Agricultural Economists.
    2. Kaiser, Mark J. & Pulsipher, Allan G., 2006. "Modeling the cost of shut-in production and the value of information in the Gulf of Mexico," Energy, Elsevier, vol. 31(4), pages 385-408.
    3. Chai Liang Huang & Lai Ferry Sugianto, 2024. "The scorching temperatures shock effect on firms’ performance: a global perspective," Review of Quantitative Finance and Accounting, Springer, vol. 62(4), pages 1651-1732, May.

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