Posts tagged “oil rig”
Less than 24 hours after oil exploration company British Petroleum agreed to fines totaling $4.5 billion in the wake of its massive oil spill in the Gulf of Mexico in 2010, another explosion off the coast of Louisiana is threatening to take a toll on the same region.
Shortly after the Deepwater Horizon disaster in the Gulf of Mexico, I wrote the following: BP’s Oil Rig Disaster May Bring an End to Support for New Offshore Exploration “I believe the long term implications of this incident will be to exacerbate our slide down the backside of peak oil. Fields take a long time to develop, and fields being developed now may have been producing oil in 5 or 10 years. But I believe this window of opportunity has now closed, and it will be much more difficult to find broad support for expanded drilling.” I held this view because I believed the disaster would sharply shift the debate on drilling, giving drilling opponents fresh ammunition and pushing even… Continue»
Under normal circumstances, I would be all over the story of last week’s BP oil rig disaster. By now, you all know that BP suffered an explosion and a fire in the Gulf of Mexico in which lives were lost and an unprecedented leak a mile below the surface of the ocean is occurring. Because of pressing deadlines (which after this week should be dealt with) I have barely kept up with any news at all. But as I watched the news trickle in over this, I couldn’t help but think the implications will be very far-reaching. There are a number of angles in this story. It highlights the fact that the oil industry can be very dangerous, and accidents… Continue»