• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 6 hours EU has already lost the Trump vs. EU Trade War
  • 14 hours Judge Orders Trump To Release Tax Returns
  • 2 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 2 hours Climate Change Consensus Shifts in Wind, But Gas Is Still the Right Move
  • 3 hours World oil demand will keep growing until 2030, climate-damaging emissions longer, says IEA
  • 9 hours Shale Gas News – November 9, 2019
  • 11 hours ''Err ... but Trump ...?'' #thedonkeystays
  • 5 hours Does .001 of Atmosphere Control Earth's Climate?!
  • 15 hours Offshore SE Asia: Offshore OFS Could Get Major Boost in SE Asia
  • 5 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 14 hours The lies and follies of the "cry wolf" enviros: No more fire in the kitchen: Cities are banning natural gas in homes to save the planet
  • 15 hours Saudi Aramco IPO Will Not Save Kingdom
  • 5 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 15 hours China's Renewables Boom Hits the Wall
Alt Text

Chinese Scientists Find New Way To Clean Up Oil Spills

Chinese scientists have invented a…

Alt Text

BP To Take Final Hit On 2010 Disaster

British Petroleum is set to…

Alt Text

The Oil Eating Bacteria That Can Clean Up Crude Spills

Scientists have discovered a rod-shaped…

Juan Cole

Juan Cole

Juan runs the popular geopolitics blog Informed Comment where he provides an independent and informed perspective on Middle Eastern and American politics.

More Info

Premium Content

Top Ten Costs of the BP Oil Spill that won't be Covered by the $4.5 Billion Fine

BP recently agreed to pay a fine of some $4.5 billion dollars from the US Department of Justice for malfeasance in the 2010 Deepwater Horizon oil spill, the largest fine paid in US history. There are also manslaughter and obstruction of justice charges against individual executives.

BP also was forced by President Obama to pay out $20 billion for damage claims, though it has dragged its feet in actually making the payments. It faces further lawsuits and private payouts.

Given the high price of petroleum, however, BP can pay the fine with no difficulty (it is allowed to pay it over five years, or less than $1 billion a year. The company’s profits in 2011 were $40 billion. The fine was so slight that BP stock rose slightly on the news.

Meanwhile the actual damage that the oil spill did to the environment was almost certainly tens of billions more than any payouts BP has been forced to engage in. Not only is the monetary damage, in harm to fishing and tourism, substantial, but the damage to quality of life and to marine life and fisheries is unacceptably high.

All this before we even get to the point that BP’s oil sales are causing tons and tons of carbon dioxide to be dumped into the atmosphere, accelerating destructive climate change.

Here are some of the real costs of the oil spill, which typically won’t be mentioned in the MSM, and which dwarf in their cost a mere $4.5 billion fine.:

Related Article: Pipeline Companies Leak Detection System Only Detects 1 out of 20 Oil Spills

1. Fish with lesions and oozing sores. Dr. Jim Cowan: “The fishermen have never seen anything like this… And in my 20 years working on red snapper, looking at somewhere between 20 and 30,000 fish, I’ve never seen anything like this either.”

2. Eyeless shrimp. (This parody of the BP greenwashing ads points to the upside here):

3. Already-endangered blue fin tuna further endangered.

4. A “graveyard of corals” on the floor of the Gulf.

5. Tar balls “teeming” with deadly Vibrio vulnificus bacteria (akin to the one that causes cholera) still being deposited on Gulf beaches:

6. Much reduced oyster catches, and increased heavy metals in oysters, along with increased vibrio vulnificus bacterial infections in oysters.

Related Article: Bacteria Consumed Over 200,000 Tons of Oil from Deepwater Horizon Oil Spill

7. Seriously ill dolphins. Some washed up on the beach:

Related Article: IEA Manipulates Stats to Predict Unrealistically High Oil Forecasts

8. Petroleum pollution in pelican eggs far from the Gulf, years later, following on initial images of Oil-drenched pelicans:

9. Disruption of nitrogen cycle of key microorganisms in Gulf waters, on which crabs and others feed.

10. Damage to plant life on Gulf islands and along the shore.

By. Professor Juan Cole




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play