Levees Not War

I was out driving just taking it slow / Looked at my tank, it was reading low / Pulled in a [BP] station out on Highway 1 / Held up without a gun / Held up without a gun . . . —Bruce Springsteen (1980)

*

BP’s 2010 first quarter profits were $5.6 billion, a 135 percent increase over the first quarter of 2009

While BP scrambles to clean up its mess in the Gulf of Mexico with one hand, it’s raking in money with the other, just like its big four partners in the oil business. Daniel J. Weiss and Susan Lyon report at Grist.org:

Much of the U.S. economy is slowly recovering from a deep recession, but oil companies continue to prosper. The big five oil companies—BP, Chevron, ConocoPhillips, ExxonMobil, and Shell—announced huge first quarter profits—four of the five companies announced profits larger than analysts predicted. As the chart below shows, big oil saw profits in the first quarter of 2010 that far eclipse analysts’ projections and are significantly higher than 2009 profits as well.

BP’s 2010 first quarter profits were $5.6 billion, a 135 percent increase over the first quarter of 2009. This profit was 50 percent higher than predicted by The Financial Times. Shell announced that its profits had risen by 49 percent since the first quarter of 2009. Chevron’s profit was $4.6 billion, a 156 percent increase, while ConocoPhillips had $2.1 billion in profits. The world’s largest private oil company, ExxonMobil, had a first quarter profit of $6.8 billion, which was 38 percent more than 2009.

Keep reading “Big Oil Continues to See Big Profits, Pollution, While Americans Get Robbed at the Pump.”

(more…)

But Seriously, Tragically, 11 Missing Workers Are Presumed Dead

On Saturday, April 24, Coast Guard officials reported that the damaged Deepwater Horizon well on the seafloor in the Gulf of Mexico was leaking oil at a rate of about 42,000 gallons (or 1,000 barrels) per day—since recalculated at 210,000 gallons per day, a fivefold increase. The leak, about 50 miles southeast of the mouth of the Mississippi River, is some 5,000 feet (about a mile) below the surface. (Chris Kirkham of the Times-Picayune has written a detailed, illustrated report of efforts to cap the leak.) As of Monday afternoon, April 26, the Coast Guard said the oil spill measured about 48 miles by 39 miles, or 1,800 square miles, an area larger than the state of Rhode Island. John Amos of SkyTruth reports that NASA photographs taken Sunday, April 25, show that oil slicks and sheen (“very thin slick”) covered about 817 square miles. Amos, who in Nov. 2009 was invited to testify at a Senate hearing on the risks posed by offshore drilling, wrote yesterday (April 25):

This is bad news—it means the blowout preventer on that well is not doing its job, and that several attempts by BP, Transocean and the Coast Guard to operate a shutoff valve on the well using a robotic ROV have failed. The oil slick has grown rapidly and now covers 400 miles.

A friend in New Orleans who is an industry insider says the Deepwater Horizon well “was as sophisticated a rig as has been built operating in the Gulf of Mexico (not a rust-bucket).” He adds:

So far, cleanup efforts haven’t done very well. 126,000 gallons of oil have been spilled, but only 33,726 gallons of emulsion (which is part water) have been picked up, and this is when conditions are calm. If you assume a 50/50 water/oil mix (a conservative assumption, IMHO), the cleanup has only been 13% effective.

Dig deeper here: WWL-TV report • Coast Guard unified command update • USCG District 8 Flickr stream • MMS article on closing blowouts (big PDF)

Our friend Aaron Viles of Gulf Restoration Network reports after a flyover on Sunday (read the entire post here):

We were shocked at what we saw. The main spill was at least 8 miles across . . . and stretching for 45 miles, in a Northeastern and Southeastern direction. The crude at the surface of the Gulf has been churned into a ‘chocolate mousse’ material that was easy to spot from our altitude of 4,000 feet. The mousse covered approximately 100 square miles, and then faded into a heavy, then light sheen, which faded about 20 miles from the Chandeleur Islands, critical bird nesting and migration habitat.

(more…)