Monday, April 4, 2011

BP Oil

BP is in the process of making a deal with the US government to allow them to start drilling in the Gulf of Mexico – only about a year after, their oil wells exploded. Although they can’t drill any new holes, lowering chances of another spill, drilling in already established holes still could cause a spill and have consequences that BP does not want to deal with again. Should we afford to risk another oil spill just so we can get some oil from a United State’s company instead of an international one? BP has had to supposedly set aside $40 billion to cover the costs of the spill from last year – the one that killed 11 workers. They are apparently taking more time effort and money to be safer and take more precautions when going back out. I think that it will be good for more oil to be coming in from our own companies yes, but because of their reputation I am not sure how much help it will actually help. How much extra money will it take for “precautions” to be taken on top of the $40 billion? For BP it will be good for them to start drilling again, but everyone will be keeping an eye on them to see if they are more careful this time around.

http://www.nytimes.com/2011/04/04/business/energy-environment/04bp.html?src=busln

4 comments:

  1. Effects of the BP oil spill in the gulf will be felt for decades to come. Gulf marshes were destroyed, innumerable animals were harmed and the overall “health” of our gulf was greatly affected. Though the company was ordered to pay $40 billion dollars to help with clean-up, I think that the government needs to ensure that BP has learned their lesson and will take all necessary precautions to avoid such an occurrence in the future. Continued drilling in the Gulf is vital in reducing America’s dependency on foreign oil, but we’ve put ourselves in this precarious position. In conclusion, BP and every other oil & gas company that drill in the Gulf need to be MUCH more careful, regardless of cost.

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  2. The oil spill last year was disasterous; it effected expenses, wildlife, the company, and individuals. However, oil is a necesity and there is already a current shortage of it. Oil needs to be drilled and we should look at the oil spill as a lesson learned. We now know the risky activity involved and we now are more open to ideas for prevention of a spill. Everyone agrees caution should be used at its greatest extent to protect our gas prices, BP, and our enviroment.

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  3. I understand that there is a need for oil in America, and everyone would like it to come from a local source instead of an international one. But I really don't think we can afford to give off-shore drilling another run. The ramifications the BP spill had are still being felt. I feel like there is absolutely no room for error, and the apparent unpredictability, and complications off-shore drilling can have is far to risky to resume drilling off the coast. I disagree, I dont think BP should set up off-shore drills or even use existing rigs anytime in the near future. I personally feel like our earth is more important than lowering the price of oil in America. We need to take care of the environment because if we mess it up, the effects will last beyond our generation.

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  4. It is a shame of what happened in the oil spill in the Gulf, but BP resuming drilling will help the Economy and it is necessary that the do it. Oil is a necessity and in order for people and businesses to run, oil has to have a low price. Right now with the Middle East conflict prices of oil have risen drastically because of the lack of supply. If BP starts drilling again, there will be more supply of oil and therefore prices will go back down. To help the economy the supply of oil must be larger so that it can meet the demands of the consumer at a reasonable price. As well, drilling oil in the golf will make the US less dependent from the middle east oil.
    -Santiago. Z

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