Gulf Oil Spill
BP says oil spill cost $350 million so far
Analysts expect final bill to run to tens of billions of dollars
BP PLC said Monday that the Gulf of Mexico oil spill has cost the company $350 million so far as it outlined renewed efforts to contain the leak.
BP said the tally included the cost of the immediate response, containment, relief well drilling, commitments to the Gulf Coast states, and settlements and federal costs.
The company did not speculate on the final bill, which most analysts expect to run into tens of billions of dollars.
BP shares slipped 0.5 percent to 551.4 pence ($8.26) after the report, bucking an upward trend across the rest of the London Stock Exchange.
The London-based company said that it was preparing a second, smaller containment box to lower over the main leak point at the Deepwater Horizon drilling rig after attempts to do the same with a larger box last week were foiled by icy slush.
BP said the smaller dome was designed to mitigate the formation of the “large hydrate volumes” that clogged the bigger dome.
However, it acknowledged that the maneuver, which is designed to siphon up to 85 percent of the leaking oil to a tanker at the surface, had never been done before in more than 5,000 feet (1,525 meters) of water. The blown-out well, which is gushing at least 200,000 gallons (750,000 liters) of crude each day, is a mile (two kilometers) underwater.
BP added that further work on the well’s blow out preventer, the device that was supposed to shut off the flow of oil after a deadly April 20 oil rig explosion but failed, meant the company was in a position to attempt a “top kill” to stop the flow of oil. That technique involves shooting mud and concrete directly into the blow out preventer.
The company said that work on the first relief well, which is considered a permanent fix and began a week ago, continues and is expected to take three months to complete.
“All of the techniques being attempted or evaluated to contain the flow of oil on the seabed involve significant uncertainties because they have not been tested in these conditions before,” the company said in a statement.
“BP continues to do everything it can, in conjunction with governmental authorities and other industry experts, to find a solution to stem the flow of oil on the seabed,” it added.
An estimated 3.5 million gallons (13.25 million liters) of oil have spilled since the explosion at the Deepwater rig, about 50 miles (80 kilometers) off the Louisiana coast. At that pace, the spill would surpass the 11 million gallons (42 million liters) spilled in the Exxon Valdez disaster by next month.
Gulf spill criminals
Two years on, the Feds have filed charges against a former BP employee for destroying critical evidence
IBRCC / CC BY 2.0 Two years after oil from a BP well began gushing into the Gulf of Mexico, the U.S. Department of Justice has filed criminal charges alleging that a former BP employee destroyed critical evidence in the early days of the unfolding disaster.
The charges are the first to be filed in what the Obama administration has called the worst environmental disaster in American history, and they are significant because they target an individual employee for his actions.
Continue Reading CloseAbrahm Lustgarten is a New York writer and photographer who reports on the environment, health and sports. More Abrahm Lustgarten.
The horrific ramifications of the Gulf oil spill
Two years after the BP oil spill, deformed fish point to lasting environmental and health consequences
This 2011 photo provided by Donald Waters shows a fish harvested from the Gulf of Mexico with unusual lesions and infections. Two years after the Deepwater Horizon rig exploded and sank, touching off the worst offshore spill in U.S. history, the latest research into its effects is starting to back up those early reports from the docks: The ailing fish bear hallmarks of diseases tied to petroleum and other pollutants. (AP Photo/Courtesy Donald Waters) (Credit: AP) Almost two full years after the BP oil spill, a panel of experts gathered at the 17th annual Tulane Environmental Law Summit, to present the continuing impacts of the BP Oil Spill. That spill began with the April 20, 2010, explosion of the Deepwater Horizon drilling unit used by BP 40 miles off the Louisiana coast. Eleven men lost their lives. The resulting spill of oil into the Gulf of Mexico stands as the largest oil spill in U.S. history and the second largest environmental disaster in this country to date besides the nearly decade-long Dust Bowl of the 1930s. Scientists at the summit presented recent photographs of shrimp with no eyes and fish with cancerous tumors born long after the gulf was declared “safe” for fishing.
Continue Reading CloseEnvironmental groups challenge Shell drilling plan
U.S. government approved an oil exploration plan that involves five proposed deep sea wells
Environmental groups are asking a federal appeals court to throw out a U.S. government decision to approve a Shell oil exploration plan that involves five proposed wells under more than 7,000 feet of water in the Gulf of Mexico.
The Bureau of Ocean Energy Management Regulation and Enforcement approved the plan in May. The plan also includes three previously approved wells 72 miles off Louisiana.
Defenders of Wildlife, the Center for Biological Diversity and the Natural Resources Defense Council claim in a petition filed Thursday in the 11th Circuit U.S. Court of Appeals in Atlanta that the decision violates the law and that the environment would be harmed if it stands.
New regulations for deepwater drilling were imposed following last year’s deadly rig explosion and Gulf oil spill.
BP sues partners as Gulf marks year since spill
Still widely criticized for spill, the oil giant filed a $40 billion lawsuit alleging negligence by the rig owner
People gather near crosses -- 11 for the workers who died in the Deepwater Horizon oil rig explosion and one for the Gulf of Mexico, center -- during a vigil to mark the first anniversary of the BP PLC oil spill on a beach in Grand Isle, La., Wednesday, April 20, 2011. (AP Photo/Patrick Semansky)(Credit: AP) BP marked the first anniversary of the massive Gulf of Mexico oil spill with a $40 billion lawsuit blaming the disaster on its partners, as Gulf residents held somber vigils and relatives flew over the waters where 11 oil rig workers died.
A year after the rig explosion that triggered the worst offshore oil spill in American history, President Barack Obama vowed to hold BP and others accountable for “the painful losses that they’ve caused.”
For its part, BP filed a lawsuit alleging negligence by the rig owner and by the maker of the device that failed to stop the spill. Both of those companies filed their own claims, a reminder that lengthy court battles lie ahead.
Continue Reading CloseOil drilling: Lots of lobbying, no legislation
The industry spent $146.5 million on federal lobbying. Is it any wonder Congress adopted no new laws?
Security personnel guard the entrance to the conference center where BP held its annual general meeting of its shareholders, in London, Thursday, April 14, 2011. BP's annual shareholder meeting got off to a rowdy start on Thursday as crowds of protesters watched over by police held noisy demonstrations outside the venue.(AP Photo/Lefteris Pitarakis)(Credit: AP) On the one-year anniversary of the explosion at BP’s Macondo well, media outlets have spilled a fair amount of ink noting that not one law has been adopted by Congress on oil and gas drilling. A cursory look at the ever-forceful efforts of the oil and gas industry lobby makes this totally unsurprising.
Marcus Barum writes in the Huffington Post, that “despite introducing more than 150 bills to improve the safety and oversight of offshore drilling and holding more than 60 hearings to discuss the spill’s causes and consequences with regulators, oil company officials, grieving relatives and Gulf-area fishermen,” no bills have been adopted, and only two made it to the Senate.
Continue Reading CloseNatasha Lennard covers the Occupy movement for Salon. A British-born, Brooklyn-based journalist, she has been covering Occupy Wall Street since before the first sleeping bag was unrolled in Zuccotti Park. One of the first journalists arrested at an Occupy action, she has managed to enrage Andrew Breitbart, Rush Limbaugh and Glenn Beck. You can follow her on Twitter (@natashalennard), and email her any Occupy updates/videos/ideas to natasha.lennard@gmail.com More Natasha Lennard.
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