On April 20, 2010, Transocean’s Deepwater Horizon drilling rig exploded, leading to 1.3 million gallons of crude oil leaking into the Gulf of Mexico per day. By comparison, the Exxon/Valdez spill, which has long been considered the worst environmental disaster in American history, only consisted of 10.8 million gallons of crude oil…total. The Gulf spill is reaching that number once every 8 days. The total estimated cost of clean up will be between $15 – 23 billion. BP will also be liable for an estimated $14 billion in lawsuits brought by the fishing and tourism industries in the Gulf states. One future consequence of the oil spill that is not as readily apparent, however, is the effect that the spill will have on employers and workers compensation insurance carriers.
- BP Settlement Sells Out Victims – Buries Evidence of Oil Company’s Willful Negligence
- Furious Growth and Cost Cuts Led To BP Accidents Past and Present
- Scientists skeptical about BP oil plumes ‘vanishing’ from Gulf
- BP Makes First Deposit to Oil Spill Compensation Fund
- Simmons, BP Critic, energy investment banker, dies in Maine