Oil Companies Spend Little on Cleanup Technology Compared To Finding Oil

[Divine Discontent]

http://www.cbsnews.com/stories/2010/06/26/business/main6621098.shtml
ON BARATARIA BAY, La., June 26, 2010
Research Costs Into Improved Deep-Sea Spill Response a Drop in the Bucket Compared to Billions Spent to Drill Deeper


BP said the company spent $29 million over three years on safer drilling operations research (the industry spent over $33 Billion in 3 years on finding new oil). But spokesman Robert Wine said BP does not research oil spill cleanup technology. Instead, he said BP supports oil spill response organizations, such as the nonprofit Marine Spill Response Corp.

"The technology rapidly advanced for drilling, because there was money to be made," said Tim Robertson, general manager of Nuka Research & Planning, which specializes in oil spill response planning, and who worked on Seldovia, Alaska's response during the Exxon spill. "There was nothing similar that applies to oil spill recovery."

Five companies - Shell Oil, ExxonMobil, ConocoPhillips, Chevron Corp., BP America - together spent about $33.8 billion to explore for new oil and gas in the past three years, according to answers the companies provided this month to a House Energy & Commerce subcommittee.

But their spending on research for safety, accident prevention and spill response is "paltry" by comparison, said Rep. Edward Markey (D-Mass), who co-chairs the subcommittee and introduced a bill Friday that would redirect $50 million per year in oil and gas royalty payments for such technology.


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Yes, these Oil Tycoons should have been put in charge of cleaning up a massive disaster.... riiiiiight. Heckuva Job.

[FBI_Un_Sub]

1. Cleanup Technology - by a "Retired" Chemical Engineer

Some thoughts

1. Going into "Clean UP Technology" is career-disenhancing.
   
2. Absent a court order or massive fines - clean up technology has almost no ROI
   
3. Clean up technology -- you have to be personally motivated and idealistic ---- not what for-profit businesses hire.
   

[moondust]

2. And thus it is a job for government.

Er...make that "good" government--not the deregulatory kind.

Send the bill to the oil companies.

[amborin]

3. K&R and BP remains in charge....