Posted by: stiltsville | May 19, 2010

It’s just money

BP made $6 billion in profits in the first three months of this year. That’s $24 billion annualized. If the Gulf oil spill ends up costing $1 billion, that’s still just 5% of BP’s annual profit. Literally a drop in the bucket.
So they write some checks, probably fire a few top-level executives and go right back to what they were doing up until April 19, 2010.
The Exxon Valdez spill was 20 years ago and many of the effects are still in evidence in Prince William Sound. I’ve heard that you can dig down and find oil on some Mexico beaches dating back to the 1979 IXTOC spill. For the people who live along the Gulf coast, this oil spill has the potential to change the rest of their lives. 50-year-old fishermen may be forced to give up their livelihoods and do what? Become web designers? What about the fourth-generation family-owned fish market that is forced to shut down? Will their children’s dreams of taking over the family business be dashed?
And what about the lost vacations, the cancelled weddings? Can BP just write a check to cover the sleep lost? or the worry and fear? Can BP just write a check for the shrimp, oysters, trout, redfish, seagulls, cormorants, pelicans and herons that will die, be sickened or just never hatch? What is the value of the bird not seen by the watcher or the fish not caught by the fisherman?

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Responses

  1. While watching the latest news about the BP Oil spill, a frightening thought came to mind: what if we can’t stop the oil? I mean, what happens if after all the measures to cap the pipe fail, (i.e., “Top Hat”, “Small Hat” and “Top Kill”). What then? An accident this problematic is new territory for BP. The oil pipeline is nearly a mile down on the ocean floor, accessible only by robots. Add on top of that the extreme pressure at which the oil is flowing out of the pipeline and there you have it: the perfect storm.

    Moreover, scientists also claim that they’ve found an enormous plume of oil floating just under the surface of the ocean measuring approximately 10 miles long, 3 miles wide and 300 feet thick. (I’m no math genius, but I bet one of you reading this could figure out just how many barrels of oil that is…)

    There are new estimates that the amount of oil spewing into the Gulf of Mexico is anywhere from 50,000 to 100,000 barrels of oil a day: that’s a far cry from BP’s estimated 5,000 barrels a day. If BP’s estimates are correct, the total amount of oil now in the Gulf would be approximately 150,000 barrels (or 6,300,000 gallons). That’s barely enough to fill 286 swimming pools: sixteen feet, by thirty-two feet, by eight and a half feet deep. That wouldn’t cover an area the size of New York City, let alone an area the size of Delaware. Obviously, the spill is much larger than we are being led to believe. If the leak can’t be stopped, in a year’s time, we’ll have roughly 18,250,000 barrels of oil (or 766,500,000 gallons) in our oceans, killing our marine and animal wildlife. Such a calamity would be environmentally and economically disastrous. I’m not a religious man, but I pray that BP and our government work fast to end this catastrophe.

    http://www.calculateme.com/Volume/Barrels(Petroleum)/ToGallons.htm

    http://blogs.howstuffworks.com/2010/05/17/latest-news-from-the-oil-spill-in-the-gulf-of-mexico-is-grim/

    http://blogs.creativeloafing.com/dailyloaf/2010/05/20/scientist-says-oil-spill-is-leaking-100000-barrels-of-oil-a-day-not-bps-estimate-of-5000/


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