Oceans
BP’s Disastrous PR Blowout
[youtube=http://www.youtube.com/watch?v=EZidQAf8epE] Even Fox News is berating BP for its callous and inapt public response to the oil blowout. And for good reason. As Newsweek says: This hasn’t been a good few weeks for Tony Hayward, the chief executive officer of BP. In the weeks since the huge oil spill in the Gulf began, he has …
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CONTINUE READINGCosts and Benefits of Offshore Oil
In thinking about the economics of off-shore oil, the main benefit is increased energy security. According to an RFF study, Netted out, the Brown and Huntington estimates suggest that the effect of increased U.S. oil production is about $1 per barrel (or 2.4 cents per gallon of gasoline); for each barrel of increased U.S. oil …
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CONTINUE READINGGulf spill estimates revised up — again
Let’s review the bidding. Since the Deepwater Horizon explosion on April 20, estimates of the volume of oil gushing into the Gulf of Mexico have gone steadily up. They began at zero, then 1000 barrels a day, then 5000 barrels (210,000 gallons), a number that has been repeated over and over in media reports. But …
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CONTINUE READINGCongressional review begins
UPDATE: The Senate Environment and Public Works Committee is also getting in on the act this afternoon with a hearing on economic and environmental impacts of the oil spill starting at 2:30 EDT. Witnesses include representatives of the three companies, and representatives of fishing, tourism, and state interests. An environmental law perspective will be provided …
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CONTINUE READINGA Corporate Culture of Carelessness
Of course, if it’s true that BP is weak on accident prevention, that doesn’t necessarily mean that there were lapses in this instance or that the lapses were the cause of the blowout. But BP’s record is a reason for concern.
CONTINUE READINGHeads in sand, oil in water
Cross-posted at CPRBlog. As oil drifts on and offshore in the Gulf of Mexico, forcing the closure of wildlife refuges and more fishing grounds, Interior Secretary Ken Salazar has called a temporarily halt to new offshore drilling while his staff prepare a report on the disaster and even Republicans in Congress are calling for new …
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CONTINUE READINGHow Did It Happen?
An article in today’s Washington Post has some useful background on oil-well blowouts: Blowouts are infrequent, because well holes are blocked by piping and pumped-in materials like synthetic mud, cement and even sea water. The pipes are plugged with cement, so fluid and gas can’t typically push up inside the pipes. Instead, a typical blowout …
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CONTINUE READINGAnother Lesson from the BP Disaster: The Need for Better Risk Assessment
Apparently, the lease grant to BP was exempted from environmental review, according to the Washington Post’s Juliet Eilperin: The decision by the department’s Minerals Management Service (MMS) to give BP’s lease at Deepwater Horizon a “categorical exclusion” from the National Environmental Policy Act (NEPA) on April 6, 2009 — and BP’s lobbying efforts just 11 …
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CONTINUE READINGHow bad? More than bad enough
Earlier today, Dan asked “How bad is the spill?” He quoted a New York Times story which suggested that concerns about the spill were overblown. Not so fast. Probably the only thing we can say with confidence right now is that it’s still too early to tell exactly how much environmental or economic damage the …
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CONTINUE READINGHow Bad is the Spill?
These comparisons may be a little misleading — a bit like saying that we shouldn’t worry about 9/11 because a a hundred times more people died in the Battle of the Somme in World War I.
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