Horse trading is a process as old as the hills of Virginia. Negotiated rulemaking, however, is a horse of a different color. The nag that the parties end up with is one that we all have to ride. It is therefore particularly important that these negotiations result in a rule that is sound and based on the input of every major interest affected by the rule.

Editors' Summary: The coastal areas of this country provide more than just a place to spend a vacation. They have always supported a substantial proportion of the country's population, are the source and support of much of its fishing industry, and provide the potential for substantial energy resources. But the conflicts associated with increasing population growth and economic prosperity have seriously degraded coastal areas in recent years. In 1972 Congress enacted the Coastal Zone Management Act (CZMA) in an attempt to prevent further deterioration of the coasts.

In the July 1987 Environmental Law Reporter, I was particularly interested in Professor Lawrence Susskind's description of his efforts with the Camden County Municipal Utilities Authority (CCMUA) issue.¹ Unfortunately, Professor Susskind's article leaves several misimpressions that deserve to be corrected.

Let me turn to the subject of the environmental liabilities imposed on landowners, tenants, and lenders, and the question of how far those can, and should, extend.

The multilateral development banks (MDBs)¹ spend more than $20 billion annually to promote economic development in less developed nations, and leverage billions more. The MDBs are the world's largest institutions financing economic development.

Editors' Summary: Although NEPA has been with us for nearly two decades, the precise extent of the statute's application remains cloudy. The courts continue to struggle with the scope of "Federal action," particularly where proposed federal conduct with little direct environmental effect will make possible nonfederal activities of great environmental consequence. Mr. Ellis and Mr. Smith examine the case law on this issue, identifying two different analytical trends reflected in the various decisions.

Editors' Summary: The public trust doctrine is an amorphous legal concept that generally provides that states hold certain submerged land and tidelands in trust for their citizens. In Phillips Petroleum Co. v. Mississippi, the Supreme Court held that state ownership of lands subject to the public trust includes nonnavigable lands that are subject to the influence of the tide. This Comment analyzes the Court's decision, which could bring millions of acres of wetlands within the reach of the public trust.

Editors' Summary: With virtual certainty, one of the two Dialogues that follow is the environmental views of the next president. Choosing between them is one of the most important environmental decisions that Americans collectively will make over the next several years.

I am privileged to be able to address the interaction between real property and environmental law as both a government employee and a private citizen. Too often, we are inclined to burrow in to the provisions of CERCLA, SARA, the Clean Air Act, the Clean Water Act, RCRA and other environmental statutes without considering how they fit into the universe of the law.

In a case now in litigation, United States v. Chemical and Pigment Co., the United States is for the first time attempting to establish a federal rule imposing liability for CERCLA cleanup costs on successor corporations (those that acquire the assets of another). The proposed rule attempts to codify a policy that the Environmental Protection Agency (EPA) has enforced under CERCLA for several years.