Oil, Oil Everywhere

A month after a BP drilling operation began hemorrhaging crude into the Gulf of Mexico, company executives and White House officials are still volleying the blame and the responsibility for what will be the worst oil spill in U.S. history.

BY BRIAN FUNG | MAY 25, 2010

A spill of epic proportion: The explosion of the BP-leased Deepwater Horizon drilling rig on April 20 that killed 11 workers has produced what as of late this month is officially the largest oil spill ever in U.S. waters. The leak began 50 miles off the coast of Louisiana, caused by a burst pipe that BP then failed to shut down. Official estimates now put the magnitude of the leak at 5,000 barrels of oil per day, but scientists point out that that number only accounts for the oil that BP has been able to siphon off from the spill -- not the total. Others believe the true number is at least eight times the figure released by the White House. Above, a marine biologist shows oil gathered from the mouth of the Mississippi River on May 17.

John Moore/Getty Images

 

Brian Fung is a researcher at Foreign Policy.

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JACKBLACKZ

11:53 AM ET

June 3, 2010

What happened to risk management?

This is truly ridiculous. The BP oil spill has now exceeded the Exxon Valdez oil spill. But what I am amazed is how long it takes them to come up with a solution. Doesnt a rich and experience company like BP do worst case scenario planning. Surely, it doesn't take much to figure out that such a scenario could inevitable happen and they should have solutions at hand when such a scenario happens. What happened to risk management and scenario planning? I think every major oil company should now start assessing and thinking about the various risk of their operation and the measures they need to take when it actually does happen. - naca

 

ARJUNA

8:31 PM ET

June 6, 2010

What a disaster

I suppose this is one of the worst environmental damage in the history. That's for sure. Also as one commented; This is truly ridiculous. The BP oil spill has now exceeded the Exxon Valdez oil spill. But what I am amazed is how long it takes them to current political news come up with a solution. Doesnt a rich and experience company like BP do worst case scenario planning. Surely, it doesn't take much to figure out that such a scenario could inevitable happen and they should have solutions at hand when such a scenario happens.

 

CHAD BERMAN

1:00 AM ET

June 24, 2010

Gulf oil spill

As the Gulf of Mexico oil spill crisis enters a third month, the economic impact of this environmental nightmare is starting to become clearer. The truth is that the "oil volcano" spewing massive amounts of oil into the Gulf has absolutely decimated the seafood, tourism and real estate industries along the Gulf coast. hp officejet cartridges Not only that, but energy industry insiders are now warning that the chilling effect that this crisis will have on offshore drilling could precipitate a new 1970s-style energy crisis. Considering the fact that the U.S. economy was already on incredibly shaky ground even before the oil leak, the last thing we needed was a disaster of this magnitude. But it has happened, and the reality is that the long-term effects of this crisis are potentially going to reverberate for decades. Without a doubt, the oil spill will have a chilling effect on offshore drilling. hp j4540 cartridges But does that mean that we are going to be facing a shortage of oil in the future? But the truth is that there are actually a TON of untapped reserves throughout the United States that could provide everything that we need for decades and more.

 

TELMAR

7:19 AM ET

June 25, 2010

Oil and BP

The oil situation is not good for anyone andd BP need to sort it. However some experts suggest they may not only be the company who takes all the responsibility since other companys discountpromo are also in the same area, before they cop all the blame maybe it needs to be investigated a bit more.