10 Things You Need (But Don't Want) To Know About the BP Oil Spill

[marmar]

AlterNet / By Daniela Perdomo

10 Things You Need (But Don't Want) To Know About the BP Oil Spill
How the owner of the exploded oil rig has made $270 million off the disaster, and nine other shocking, depressing facts about the oil spill.

May 27, 2010 |


It's been 37 days since BP's offshore oil rig, Deepwater Horizon, exploded in the Gulf of Mexico. Since then, crude oil has been hemorrhaging into ocean waters and wreaking unknown havoc on our ecosystem -- unknown because there is no accurate estimate of how many barrels of oil are contaminating the Gulf.

Though BP officially admits to only a few thousand barrels spilled each day, expert estimates peg the damage at 60,000 barrels or over 2.5 million gallons daily. (Perhaps we'd know more if BP hadn't barred independent engineers from inspecting the breach.) Measures to quell the gusher have proved lackluster at best, and unlike the country's last big oil spill -- Exxon-Valdez in 1989 -- the oil is coming from the ground, not a rig, so the amount that could continue to pollute Gulf waters may be infinite.

The Deepwater Horizon disaster reminds us what can happen -- and will continue to happen -- when corporate malfeasance and neglect meet governmental regulatory failure.

The corporate media is tracking the disaster with front-page articles and nightly news headlines every day (if it bleeds, or spills, it leads!), but the under-reported aspects to this nightmarish tale paint the most chilling picture of the actors and actions behind the catastrophe. In no particular order, here are 10 things about the BP spill you may not know and may not want to know -- but you should.

1. Oil rig owner has made $270 million off the oil leak

Transocean Ltd., the owner of the Deepwater Horizon rig leased by BP, has been flying under the radar in the mainstream blame game. The world's largest offshore drilling contractor, the company is conveniently headquartered in corporate-friendly Switzerland, and it's no stranger to oil disasters. In 1979, an oil well it was drilling in the very same Gulf of Mexico ignited, sending the drill platform into the sea and causing one of the largest oil spills by the time it was capped... nine months later.

This experience undoubtedly influenced Transocean's decision to insure the Deepwater Horizon rig for about twice what it was worth. In a conference call to analysts earlier this month, Transocean reported making a $270 million profit from insurance payouts after the disaster. It's not hard to bet on failure when you know it's somewhat assured.

2. BP has a terrible safety record

BP has a long record of oil-related disasters in the United States. In 2005, BP's Texas City refinery exploded, killing 15 workers and injuring another 170. The next year, one of its Alaska pipelines leaked 200,000 gallons of crude oil. According to Public Citizen, BP has paid $550 million in fines. BP seems to particularly enjoy violating the Clean Air and Clean Water Acts, and has paid the two largest fines in the Occupational Safety and Health Administration's history. (Is it any surprise that BP played a central, though greatly under-reported, role in the failure to contain the Exxon-Valdez spill years earlier?)

With Deepwater Horizon, BP didn't break its dismal trend. In addition to choosing a cheaper -- and less safe -- casing to outfit the well that eventually burst, the company chose not to equip Deepwater Horizon with an acoustic trigger, a last-resort option that could have shut down the well even if it was damaged badly, and which is required in most developed countries that allow offshore drilling. In fact, BP employs these devices in its rigs located near England, but because the United States recommends rather than requires them, BP had no incentive to buy one -- even though they only cost $500,000.

SeizeBP.org estimates that BP makes $500,000 in under eight minutes. ..........(more)

The complete piece is at: http://www.alternet.org/environment/147014/10_things_you_need_%28but_don%27t_want%29_to_know_about_the_bp_oil_spill/?page=entire

[iamjoy]

1. BP Has A Terrible Record

but, but, their logo is green and kind of looks like a flower. They must be good stewards of the environment, right?

:eyes:

[hootinholler]

3. They are very good at greenwashing

They bought Solarex in Frederick Md. Started building a plant expansion which has inexplicably been demolished.

-Hoot

[bvar22]

2. As much as I like Alternet,

Transocean hasn't "made" any money off of this disaster.
The price of the rig and the men killed in this disaster far exceeds the percentage of the oil recovered.

As someone who was involved in offshore drilling for most of my early life (20+ years), the operators of these rigs are very "protectionist" with their property and lives.

The Home Office of BP (or any major oil co) is a different story. The Majors (owners of the leases) are constantly at war with the Drilling Contractors (owners of the equipment) over "safety".

It appears that there was a heated "dispute" between the Tool Pusher (Drilling Contractor rep onsite), and the "Company Man" (BPs rep onsite) over safety issues immediately prior to the blowout.

[katty]

4. BP historically: terrible record