Showing posts with label Gulf oil spill. Show all posts
Showing posts with label Gulf oil spill. Show all posts

Wednesday, June 16, 2010

Gulf Oil Spill: How Bad Is It?

In the video below from Bloomberg News, oil indistry "insider" Matthew Simmons, chair of the Ocean Energy Institute and a former energy advisor to Geoerge W. Bush, postulates a very frightening assessment of the Gulf oil spill.

He asserts that independent scientific evidence now indicates the leak is currently gushing 120,000 barrels per day, and suggests an "oil lake" beneath the water could be covering as much as 40% of the entire Gulf of Mexico.

His view is that nothing short of a "small" nuclear detonation will stop the Gulf oil leak. The alternative, according to Mr. Simmons, is 120,000 barrels of oil per day leaking into the Gulf of Mexico "for the next 25 to 30 years."

I would ordinarily be hesitant to cite a view that is so "out there" on this blog (even from a credible news outlet, such as Bloomberg). Frankly, were it not for BP's consistent understatements on the severity of this leak from the outset, all proven woefull wrong, I would not have been inclined to do so.

Unfortunately, the "outliers" have been factually correct with disturbing regularity since the initial days of this catastrophe.

Let us hope that on these points, Mr. Simmons is dead wrong.

- Garry J. Wise, Toronto

Visit our Toronto Law Firm website: www.wiselaw.net

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Thursday, June 10, 2010

The Oil Counterspin Continues

CNN: Not all the oil in the Gulf is coming from BP's spill

Yes, really.

It's coming from ships that leak oil and from Mother Nature herself.

It must be true. We heard it on CNN.

- Garry J. Wise, Toronto

Visit our Toronto Law Firm website: www.wiselaw.net

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Oil Catastrophe Updated: June 9, 2010 Aerial Video

- Garry J. Wise, Toronto

Visit our Toronto Law Firm website: www.wiselaw.net

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Thursday, May 13, 2010

McClatchy: Criminal Charges Likely In Gulf Oil Catastrophe

Marisa Taylor of McClatchy Newspapers:

WASHINGTON — Federal investigators are likely to file criminal charges against at least one of the companies involved in the Gulf of Mexico spill, raising the prospects of significantly higher penalties than a current $75 million cap on civil liability, legal experts say.
...Such a likelihood has broad legal implications for BP and the two other companies involved — not the least of which is the amount of money any responsible party could be required to pay. The White House is asking Congress to lift the current $75 million cap on liability under the Oil Pollution Act of 1990, but there's no cap on criminal penalties. In fact, prosecutors in such cases can seek twice the cost of environmental and economic damages resulting from the spill.

- Garry J. Wise, Toronto

Visit our Toronto Law Firm website: www.wiselaw.net

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