Tag Archives: economics

Oil Spill Costs: Stopping US tax breaks for polluters

BP stands to save $10 billion from their contribution to oil spill costs in the Gulf Of Mexico owing to exploitation of tax breaks in the USA.   Representative Alcee Hastings, (D-FL), introduced a bill that would abolish write-offs oil … Continue reading

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FISHERMEN compensation from oil spills: why do oyster farmers double shrimpers?

Oil spill compensation czar Alan Feinberg is poised to announce more compensation for Gulf of Mexico fishers affected by the oil spill. It is clear that the science of how fish and fishing are affected by oil spills and slicks, … Continue reading

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YELLOWSTONE Oil Spill Costs Triple to $135 million

Exxon Mobil have admitted spiralling costs of clean-up and compensation for their July 2011 oil spill in the Yellowstone River, Montana. The company reports it has reached compensation agreements with 95% of property owners. Although it is being sued by … Continue reading

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OIL SPILL INFOGRAPHIC: social analysis of how we all reacted online to Gulf of Mexico oil spill

An infographic from late last year by SocialSphere aggregating information on social network impact of the Gulf of Mexico oil spill. Quote: “This June, while engineers in the Gulf were trying to stop the destructive flow of oil from BP’s … Continue reading

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NEW ZEALAND OIL SPILL: Billion dollar cost

The tanker Rena – and its parent company Costamare – that caused the oil spill off New Zealand is insured for US$1 billion of pollution damage John Key yesterday said the clean-up so far had cost an estimated AU$12.1 million. … Continue reading

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SPILL INSURANCE: financial markets develop offering to reduce corporate risks from oil spills

Demand for oil spill risk protection from the oil industry is being met through an insurance scheme to allow oil companies to transfer multi-million dollar risks associated with large oil spills to capital markets investors, in the way insurers and … Continue reading

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YELLOWSTONE oil spill: set to cost Exxon over $1000 per gallon spilt

Initial estimates from Exxon show it has set a contingency of $43 million to cover damages from its oil spill in the Yellowstone River. The lion’s share ($40 million) is to cover the cleanup costs and the remainder for legacy … Continue reading

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Yellowstone Oil Spill: Costs in the hundreds of millions of dollars

Exxon-Mobil’s latest oil spill within sniffing distance of USA’s emblematic Yellowstone Park is set to levy further heavy costs to its brand and the oil industry. The costs of cleanup are likely to be high, in the tens of millions. … Continue reading

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Gulf of Mexico Oil spill: BP’s backroom “deals of the century”

BP is reaching settlement with its partners on the MC252 rig which caused theGulf of Mexico oil spill. It is settling “out of court” for around half of the estimated cost of the oil spill to BP. MOEX has agreed … Continue reading

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Enbridge oil spill: the low cost of government support

Enbridge took full financial responsibility for the Kalamazoo River oil spill in July 2010 from the moment the oil spill happened, reports suggest. Its bid to ensure “business as usual” (“[Enbridge] made it very clear to [the local government] from … Continue reading

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