Buffer on lines - no overlap and split the difference

Idea created by ICFEPGIS on Mar 28, 2013
    The Buffer tool should have an additional option when buffering from lines, especially lines in the form of a network like transmission lines, streams, pipelines, etc.

    The option should be something like "no overlap - split the difference"  with the results like the graphic below.
    This is useful for overlaying buffers onto resource layers to quantify environmental impacts.
    Absence of this option requires user to create elaborate models or undertake manual editing to accomplish the desired results.