Financial costs of oil spills in the United States

by Dagmar Schmidt Etkin

Publisher: Cutter Information Corp

Written in English
Published: Pages: 346 Downloads: 137
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  • Economic aspects,
  • Finance,
  • Liability for oil pollution damages,
  • Oil spills,
  • United States,
  • Water
The Physical Object
FormatUnknown Binding
Number of Pages346
ID Numbers
Open LibraryOL12232452M
ISBN 10157484072X
ISBN 109781574840728

As of January , 36 U.S. states have active funds that pay for new and past oil storage tank leaks or releases, financial aid has been phased out in five states, and ine states, the District of Columbia, and 5 territies have no fund that provides all federally-required oil leak cleanup coverage. Update of Occurrence Rates for Offshore Oil Spills Update of Occurrence Rates for Offshore Oil Spills Abstract This report updates the oil spill occurrence rate estimates applicable to offshore oil exploration and development activity in the U.S. Outer Continental Shelf (OCS) (Anderson, Mayes, and LaBelle, ).File Size: 2MB. National Research Council, Oil in the Sea III: Inputs, Fates,and Effects (National Academy Press, Washington, DC, ). The Ocean studies board and Marine Board authored this book and gives detailed information on environmental studies. On several oil spills and how they were handled, cleaned up and what kind of after effects were left. Get this from a library! Deepwater Horizon oil spill: actions needed to reduce evolving but uncertain federal financial risks: report to congressional requesters.. [Susan Ragland; United States. Government Accountability Office.] -- On Ap , an explosion of the Deepwater Horizon oil rig leased by BP America Production Company (BP) resulted in a significant oil spill.

Information on environmental costs in financial statements (or notes thereto) is more common in the United States where there are Securities and Exchange Commission (SEC) and Financial Accounting Standards Board requirements relating to disclosure of such information (Macve and Carey, ).   Apr. 19, — Nine years ago tomorrow -- Ap -- crude oil began leaking from the Deepwater Horizon drilling rig into the Gulf of Mexico in .   Topics included possible criminal and civil charges against BP; potential legal costs for state, local and the federal government; and non-financial effects that oil spills have on communities. Mr. The following table lists the largest oil spills in U.S. history and includes the date and location of the spill, the cause and amount spilled.

  Big oil companies including Exxon Mobil Corp and Royal Dutch Shell will spend $1 billion to develop a new oil spill containment system for the Gulf of Mexico, the companies said on Wednesday.   Charles Koch built the company he inherited from his father, Fred, into a financial powerhouse based on oil and gas. Koch Industries earned Charles, and his . The Arctic hosts one of the world’s most productive and most pristine marine environments. An oil spill of heavy fuel oil, which could devastate this fragile world and destroy food sources for arctic communities, is the top threat associated with increased Arctic shipping. Heavy fuel oil is extremely toxic and slow to degrade. Oil spill . that from March (the month before the oil spill) to March , the Mining and Logging Industry which includes most oil and gas jobs in Gulf states had increased employment by more t jobs.x o Even the pro-oil industry Wall Street Journal now admits that File Size: 94KB.

Financial costs of oil spills in the United States by Dagmar Schmidt Etkin Download PDF EPUB FB2

ISBN: X OCLC Number: Notes: At head of title: Oil spill intelligence report. Description: pages: illustrations ; 28 cm. Financial costs of oil spills in the United States [Dagmar Schmidt Etkin] on *FREE* shipping on qualifying offers. on shore oil spills are o n average times more expensive t han the off shore spills.

C lean-up cost for heavy oils are o n a verage t en t imes more expensive than t hose fore lig ht and diesel. Mexico. The report examines the potential financial impacts resulting from a set of well blowout scenarios in UK waters, in terms of the costs of oil spill response and of third party loss or damage that might result.

These costs are discussed in relation to the financial provision that exists in the UKFile Size: 6MB. @article{osti_, title = {Economic impacts of oil spills: Spill unit costs for tankers, pipelines, refineries, and offshore facilities. [Task 1, Final report]}, author = {}, abstractNote = {The impacts of oil spills -- ranging from the large, widely publicized Exxon Valdez tanker incident to smaller pipeline and refinery spills -- have been costly to both the oil industry and the public.

the likelihood of spills from freighters. Overall, oil movement to and from the United States has increased by over 42% since Spills from tankers and barges comprise only 13% of the total annual spill number, but, since the largest vessel spills tend to be from. Melvin Berger is the author of many classic LRFOs, including Germs Make Me Sick!, Oil Spills.

and Why I Cough, Sneeze, Shiver, Hiccup, and Yawn, as well as other nonfiction on the Harper lives in East Hampton, NY. Roma Gans is an expert in early childhood education, professor emeritus of Teachers College, Columbia University, and co-founder and editor of the Let's-Read-and-Find-Out /5(25).

calculations. The costs for oil spills in inland navigable waterways for the years through are shown in Table 9. Over the year period, estimated total costs for inland navigable waterway oil spills was $ billion, or, on average, $ billion annually.

This is nearly theFile Size: KB. pay for major oil spills The Issue. The United States operates on the premise the ‘polluter pays’ for oil spills, and sets a potential liability limit for the spiller. Both the federal government and Washington State have laws and rules that require oil handlers and owners to provide proof of their financial ability to pay for cleanup and File Size: 96KB.

1 OIL SPILLS AND CLEAN-UP COSTS Cao Thi Thu Trang Institute of Marine Environment and Resources Da Nang, Hai Phong, Vietnam Summary With. Cost of Oil Spills: Tens of Billions. $40 Billion—the reported cost of the BP Gulf Coast oil spill. But the nominal cost of cleaning up a hydrocarbon disaster only reflects a part of the damages, longer term.

The Oil Pollution Act capped firms’ liability for economic damages from oil spills at $75 million, not adjusted for inflation and in addition to all removal : Michael Greenstone. Librarian's tip: Chap.

16 "Global Oil Spills, the Environment, and Oil Pollution Legislation in the United States" Read preview Overview Long-Term Environmental Effects of Offshore Oil and Gas Development By Donald F.

Boesch; Nancy N. Rabalais Elsevier Applied Science, In this case, costs for clearing beaches of oily waste, disposing of oily waste, rehabilitating oiled wildlife and coastlines, and salvaging wreckage would likely fall to the provincial and federal governments, local businesses and residents (Technical Analysis: Requirements for British Columbia to Consider Support for Heavy Oil Pipelines, p).

Oil spills in the United States, the release of a liquid petroleum hydrocarbon into the environment, especially the marine ecosystem, due to human activity. It is a form of term is usually given to marine oil spills, where oil is released into the ocean.

The oil giant said that it anticipated cash payments related to the disaster would be about $3 billion inup from an earlier estimate. The largest oil spill to occur in the United States so far was the Exxon Valdez spill into Prince William Sound, Alaska, in March The Exxon Valdez, a medium-sized oil tanker, ran aground on a reef to cause this spill of almost 11 million gallons of crude oil.

The world witnessed the largest oil spill in its history in April in the Gulf of Mexico. The explosion occurred in an oil well of British Petroleum and it is estimated that almost billion barrels of oil was leaked to the Atlantic Ocean during the first three months since the incident. Since Exxon Valdez, there have been at least two-dozen major oil spills in the United States, ranging in size from a few hundred gallons to hundreds.

U.S. Oil Spills. Some of the most famous oil spills to affect the United States include: Gulf Coast Oil Spill (Ap ): An explosion at the site of a well causedgallons of oil to leak into the Gulf of Mexico each day; the Gulf Coast oil leak may surpass the Exxon-Valdez disaster as the worst oil spill in U.S.

history. Mega Borg (June 8, ): A lightering accident caused. This is a reverse-chronological list of oil spills that have occurred throughout the world and spill(s) that are currently ongoing.

Quantities are measured in tonnes of crude oil with one tonne roughly equal to US gallons, Imperial gallons, barrels, or calculation uses a median value of for the specific gravity of light crude oil; actual values can range.

The Exxon Valdez in Alaska spilled over 10 million gallons of oil into the ocean. This was the third largest oil spill in history. In the Amoco Cadiz spilled 68 million gallons, and the largest spill was on the Yucatán in Mexico where an offshore oil rig spilled million gallons of oil.

But these are only the tip of the iceberg. For every gigantic oil spill, there are dozens of. Oil Price War Puts Entire Kingdom Of Saudi Arabia At Risk.

Why This Oil Rally Won't Last. U.S. Oil, Gas Rigs Fall Below For The First Time Since A Once-In-A-Lifetime Warnings For Oil.

For example, models can help predict trajectories of oil spills (AbascalBroström et al.Liu et al. ), frameworks have been developed to elucidate human dimensions of oil spill impacts (Webler and LordLord et al.

), and an entire industry exists for emergency response in oil by:   Instead of having to pay fines, the companies whose oil spilled into the water have actually been reimbursed $19 million from a federal trust for the oil they lost, claiming that the spills and damage were caused by an "unforeseeable act of God," according to.

This is a non-fiction book about oil spills. It discusses mainly the major oil spill from the Exxon Valdez that spilled 11 million gallons of oil. This oil spill damaged 1, miles of Alaska's coastline.

It also killedanimals. It next discusses the causes of oil spills. And lastly, how experts attempt to clean up and contain the spill/5. Here is a look at some major oil spills that impacted the United States, some of which had regulatory repercussions.

One spilled barrel holds 42 gallons. March - Prudhoe Bay, AlaskaAuthor: Reuters Editorial. The 13 largest oil spills in history Here's a look at the largest spills in world history and how the Gulf oil spill and the Exxon Valdez disaster compare.

Laura Moss J12 p.m. Kinder Morgan’s (NYSE:KMI) assertion that oil spills could bring economic benefits is triggering heated reactions. The company’s statement, part of its $ billion proposal to the federal. Thousands of oil spills occur in U.S. waters each year, but most are small in size, spilling less than one barrel of oil.

Yet since the iconic oil well blowout in Santa Barbara, California, there have been at least 44 oil spills, each o barrels (, gallons), affecting U.S. largest of which was the Deepwater Horizon well blowout in the Gulf of Mexico.

Oil Spills During an oil spill in coastal waters, OR&R 's role is to provide scientific support to the U.S. Coast Guard officers in charge of response operations. In addition to spill response software and mapping tools, OR&R provides standard techniques and publishes guidelines for observing oil, assessing shoreline impact, and evaluating.This website is intended to serve as both a research tool and collaborative workspace for those seeking information about oil spills that have occurred in the United States.

Everyone is welcome to contribute to the list through our online form. The submitted data is verified then captured and organized in a live Google Sheet with corresponding resources in a Google Doc.

Based on the current rig count, Goldman Sachs projected that United States oil production could grow bybarrels a day by the fourth quarter of from the same period last year.