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Over the last five years, a series of scientific studies have clearly documented the enormous consequences of the 2010 BP oil spill on fish and wildlife in the Gulf of Mexico. From the majestic and endangered Kemp’s ridley turtle to the sensitive shrimp and oyster beds, exposure to the more than 4 million barrels that flowed from the worst oil spill in American history, or to the toxic...
Will America ever get a hands around the problems with offshore oil drilling? There was a brief moment after the Deepwater Horizon catastrophe in 2010 when the scenes of devastation — oiled birds, massive slicks invading the precious marshlands of the Gulf and its sandy white beaches — made you think that the government would finally make drilling safety a significant priority. Of...
The Deepwater Horizon catastrophe in the Gulf five years ago sure exposed a lot of holes in the current system. By that, I certainly mean holes in our system of environmental regulations, as BP was allowed to get away with all kinds of risky cost-cutting maneuvers during the drilling process, right up to the explosion that killed 11 people and spewed more than 4 million barrels of crude oil into...
It’s funny how things work out sometimes. Consider the sensitive issue of offshore drilling for oil in the Gulf of Mexico. Five years ago, when the Deepwater Horizon disaster wreaked its havoc on the region, killing 11 workers and ultimately spewing between 4 and 5 million barrels of crude oil into the Gulf, some folks actually wondered if that was the end of offshore oil production. After...
The last decade — ever since it became clear in the mid-2000s that conventional oil fields around the planet were running low — has been the era of “extreme oil.” Big Oil promised the world that the wonder of new technologies — most notably hydraulic fracturing, or fracking, as well as other advances in drilling capabilities — would make it possible to tap rich...
I’ve long said that no likely BP settlement would ever be enough for the damage that its 2010 oil spill caused to the Gulf region. Mostly, that’s a moral argument: The purpose of punitive damages is that a company must be shown that the cost of doing bad is more than doing good — but that’s hard to do when an oil company’s typically reckless drilling and production...
Last week I wrote here that BP’s $54 billion payout for damages and restoration from the 2010 Gulf oil spill just wasn’t really enough — both because of the ongoing environmental damage from the Deepwater Horizon oil that continues to wash up on our beaches and because dollars trumped real accountability. You won’t hear that critique too much from public officials, who are...
If anything has the ability to cut through the clutter in our 24/7 frenetic news cycle, it’s Wall Street. Say what you will about the capital markets, but the way that investors react to important news is a pretty good reality check. This week, there was a major development in the quest for just compensation for the 2010 BP oil spill, the ongoing crisis that sparked the creation of this...
Michael Brune, the executive director of the Sierra Club, has an article on the Huffington Post this week that seems to ask the important environmental question of the moment: What, exactly, does President Obama and his administration think it’s doing when it comes to fossil fuels? (He also wonders, interestingly, if the president is cursed when it comes to oil and gas, since every time his...
The oil spill story in and around Santa Barbara just keeps getting worse. Indeed, this weekend officials had to close a number of beaches as far south as Orange County, south of Los Angeles, because of a wave of sticky, gooey tar balls, ranging from baseball-sized to football-sized, that keep coming ashore. Officials haven’t yet confirmed that the tar balls are the result of the pipeline...
