Well we always knew that the oil spill disaster would have severe repercussions for the industry, a fact now conceded by the International Energy Agency (IEA). The IEA has warned that the spill from BP’s Macondo’s well “places the ability of the industry to access important new reserves on a knife edge“. Its latest monthly … Read More
Offshore
Lawyers not yet born look set to work on this one too
When the Exxon Valdez oil spill happened the chair of the Trustees panel said simply: “lawyers not yet born will work on this one”. His prediction essentially came true as the spill lawsuits grinded backwards and forwards through the courts as Exxon did everything in its power to delay and derail the legal process. As … Read More
“Of particular concern is the ability to stop a blowout once it has begun.”
When Time magazine compiled a list of its “Dirty Dozen” people it held responsible for BP’s oil spill it is hardly surprising that BP’s two recent CEOs John Browne and Tony Hayward topped the list. Number three on the list, though, was a name most people had never heard of: Chris Oynes. Oynes was the … Read More
Scientists Attack White House Spin
The fall-out continues from the US government report saying that 75 per cent of the spilled oil from BP’s macondo well has gone. Scientists say it is “just not true” that the vast majority of oil from the BP spill has gone and in fact the opposite is true – that up to 75 per … Read More
“Carpet bombed” dispersants act as a “delivery system” for oil
As BP prepared over the next few days to permanently seal its Macondo well, there is growing evidence that its use of dispersants is going to have severe political, ecological and legal ramifications. The political fall-out from their use intensified last week. Ed Markey, the Chair of the Committee on Energy and Commerce wrote to … Read More
NWF Attack Oil Industry’s “Assault on America”
Yesterday Shell waded into the Deepwater fall-out by defending deep-water drilling. Peter Voser, Shell chief executive, argued that deep-water drilling still had an important role to play in global energy supply. “We have got growth potential there”. But what cost is this growth? Even the industry’s own trade magazines are questioning the business as usual … Read More
100 Days That Changed the Industry .. Or Did it?
So we are 100 days into this disaster and what has changed? Well we have a new CEO of BP. The straight talking American Bob Dudley argues that the Gulf of Mexico spill has been “wake-up call not only for BP, but the oil and gas industry overall”. But will this wake-up call change the … Read More
Why not donate your pension to the Gulf residents, Tony?
Dear Tony, So I thought I would say goodbye. Except that it is not really goodbye today is it. You are hanging on until October, but what you are going to do for another couple of months, I am not sure? Even then you aren’t really leaving are you? Not content with $1 million / … Read More
A $20 Million Reward for Failure
The details are still being worked out. The BP Board meets this afternoon. But if the press reports are anything to go by, the company’s embattled CEO, Tony Hayward will walk away with anything from at least ÂŁ11 million to ÂŁ12 million plus. That’s about $18.5 million. And that’s the low estimate. The huge amount … Read More
US Government “Sock-Puppet” for BP Over Dispersants
The dispersant row continues. If people are worried about the legacy of what BP is doing in the Gulf of Mexico, they should watch the latest Democracy Now. In it EPA scientist Hugh Kaufman accuses the Obama Administration, including his own agency, the EPA, of being “sock-puppets for BP in the cover up” over the … Read More