A court in Alaska has ruled in favor of Exxon Mobil (NYSE:XOM) concerning a dispute over cleaning up oil allegedly left from the 1989 Exxon Valdez tanker spill.
A federal judge in Anchorage ruled against a request from former University of Alaska marine science professor Rick Steiner. He filed a motion attempting to force the oil company to pay a $92 million claim failed against Exxon in 2006 by the state and federal governments.
According to the the Anchorage Daily News, government lawyers are waiting for studies on the remaining oil and the effectiveness of cleanup techniques to be completed before pursuing the claim.
So-called environmentalists are attempting to extract more money from Exxon in order to clean up unproven residue.
Exxon was trading at $84.88, up $0.16, or 0.19 percent, as of 12:44 PM EST.
Showing posts with label Exxon Valdez. Show all posts
Showing posts with label Exxon Valdez. Show all posts
Tuesday, March 8, 2011
Tuesday, September 14, 2010
BP (NYSE:BP) to be Sued by Justice Department
In a court filing on Monday, the Justice Department said they will probably sue BP (NYSE:BP) for damages related to the Gulf of Mexico oil spill from the Deepwater Horizon.
The filing was with the U.S. District Court in New Orleans, Louisiana.
If they proceed, claims against BP would be based on the Clean Water Act and the Oil Pollution Act,
The Oil Pollution Act was put in place after the oil spill from the Exxon-Valdez (NYSE:XOM).
It wasn't clear if they're going to wait to see if BP will be tagged with a "gross negligence" label, which would significantly increase the potential penalties.
The filing was with the U.S. District Court in New Orleans, Louisiana.
If they proceed, claims against BP would be based on the Clean Water Act and the Oil Pollution Act,
The Oil Pollution Act was put in place after the oil spill from the Exxon-Valdez (NYSE:XOM).
It wasn't clear if they're going to wait to see if BP will be tagged with a "gross negligence" label, which would significantly increase the potential penalties.
Thursday, August 19, 2010
Scientist: BP (NYSE:BP) Oil Report Misleading and Incomplete
Professor Ian MacDonald, a nationally renowned Scientist at Florida State said, the governments report on where the BP (NYSE:BP) oil has gone is misleading and incomplete. He is extremely disappointed because the report doesn't give any details on the process scientists used to compile data and came to their conclusions.
MacDonald feels the report is public relations, having nothing to do with actual science. The total amount of oil that was deposited into the Gulf is 4.9 million barrels. According to the governments estimates, 25 percent of the oil was skimmed, burned, or recovered. An additional 25 percent dissolved or evaporated, while 24 percent was dispersed through chemicals or naturally. That leaves only 26 percent remaining in the environment.
"That residual oil at the 26 percent level represents five Exxon Valdez quantities of oil released into the Gulf of Mexico, still there these many months later and likely to stay there for years to come," said MacDonald. He does believe that the 26 percent is an extremely low estimate, but even that number is staggering.
MacDonald feels the report is public relations, having nothing to do with actual science. The total amount of oil that was deposited into the Gulf is 4.9 million barrels. According to the governments estimates, 25 percent of the oil was skimmed, burned, or recovered. An additional 25 percent dissolved or evaporated, while 24 percent was dispersed through chemicals or naturally. That leaves only 26 percent remaining in the environment.
"That residual oil at the 26 percent level represents five Exxon Valdez quantities of oil released into the Gulf of Mexico, still there these many months later and likely to stay there for years to come," said MacDonald. He does believe that the 26 percent is an extremely low estimate, but even that number is staggering.
Thursday, May 27, 2010
MMS Steps Down, BP (NYSE:BP) Oil Spill Worst In History
It is official, BP (NYSE:BP) is the worst oil spill in U.S. History, this is by the governments task force findings of new estimates of the oil flow. The estimation by the task force is three times more than what was being estimated.
This estimation was given by the scientific team of President Obama who were given the job to determine the accurate amount of oil flowing from the Gulf oil spill. Their original estimate was between 12,000 and 19,000 barrels being lost of oil daily. This is much higher than what the U.S. Coast Guard and BP kept insisting on, 5,000 gallons a day being lost.
The new estimate is no comparison to what was originally estimated. The new oil spill estimate is up to 798,000 gallons daily.
The most conservative estimate, since the April 20th fuel oil spill disaster would be a total of close to 17 million gallons deposited into the ocean. The high end of the estimate, would equal to a total of 29.5 million gallons.
This surpasses the Exxon Valdez Disaster which spilled a total of 11 million gallons of oil.
This estimation was given by the scientific team of President Obama who were given the job to determine the accurate amount of oil flowing from the Gulf oil spill. Their original estimate was between 12,000 and 19,000 barrels being lost of oil daily. This is much higher than what the U.S. Coast Guard and BP kept insisting on, 5,000 gallons a day being lost.
The new estimate is no comparison to what was originally estimated. The new oil spill estimate is up to 798,000 gallons daily.
The most conservative estimate, since the April 20th fuel oil spill disaster would be a total of close to 17 million gallons deposited into the ocean. The high end of the estimate, would equal to a total of 29.5 million gallons.
This surpasses the Exxon Valdez Disaster which spilled a total of 11 million gallons of oil.
Thursday, May 20, 2010
BP (NYSE:BP) Has Used 655,000 Gallons Of Now Banned Chemicals
BP (NYSE:BP) has dispersed a minimum of 655,000 chemicals in the Gulf that are now banned. According to the Environmental Protection Agency, this is the largest application of dispersant's every used in the history of oil spills.
The two dispersant's being used are from a line called Corexit, both these dispersant's were banned from use on oil spills in the U.K. over 10 years ago due to the failure of their toxicity tests. What's actually used is kept secret by manufactures, the EPA said they are required by law to protect this information.
Corexit had been on the approved list of dispersant's put out by the EPA despite them being more toxic and less effective. A version of Corexit was used on the Exxon Valdez spill in 1989, it was linked later to human health problems. Nervous system, kidney, liver, blood, and respiratory problems are just some of the related health problems due to Corexit.
BP has been asked to switch to less toxic dispersant's within 72 hours.
The two dispersant's being used are from a line called Corexit, both these dispersant's were banned from use on oil spills in the U.K. over 10 years ago due to the failure of their toxicity tests. What's actually used is kept secret by manufactures, the EPA said they are required by law to protect this information.
Corexit had been on the approved list of dispersant's put out by the EPA despite them being more toxic and less effective. A version of Corexit was used on the Exxon Valdez spill in 1989, it was linked later to human health problems. Nervous system, kidney, liver, blood, and respiratory problems are just some of the related health problems due to Corexit.
BP has been asked to switch to less toxic dispersant's within 72 hours.
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