TAG: BP

BP to Sell US Wind Power Operations

BP logo

The energy giant BP is looking to sell off its wind power operations in the United States and focus more on the core of their business, which is gas and oil. BP’s wind operations in the U.S., some 2600 MW in capacity, are estimated to total about $1.5 billion USD, and the company is one of the only oil giants that has made inroads into wind power development. The move into wind power came as the company believed that a natural synergy existed between wind and natural gas (used for power when wind speeds drop), but BP has now determined… read more

Toxic Clean Up

Toxic Clean Up

The Deepwater Horizon oil rig experienced a devastating oil spill in 2010. The Gulf of Mexico residents thought the damage done was just going to be from the 4.9 million barrels of oil which were floating around in the water. The Gulf ecosystem was nearly destroyed, tourism shot down in the area, and marine sources of food were scarce, resulting in one of the worst man-made disasters in recent memory. However, BP promised to be the knight in shining armor, and to come save the residents and ecosystem of the Gulf. Through poking and prodding from the Gulf residents and… read more

Surprise from the EPA

Surprise from the EPA

In recent memory, the Environmental Protection Agency (EPA) has been more disappointing than gratifying in the eyes of environmental advocates. Oil and gas extraction has been a thorn in the side of the EPA. The organization has had to balance environmental concerns with economic woes. The Obama administration has not made it easier on the EPA since it has been equally unwilling to take a real stand supporting or opposing the dangerous methods of extraction. Yes, the Obama administration has maintained and prolonged the status quo of oil and gas extraction, development, and use; and yes, the EPA is subject… read more

The Slick Spreads

The Slick Spreads

It appears as though the Deepwater Horizon saga is not over, with new reports suggesting there is yet another oil sheen in the Gulf of Mexico coming from the site of the 2010 spill. BP had confirmed the oil sheen that appeared in mid-September in the Gulf was leaking from the containment dome, an abandoned piece of equipment which capped the original spill. The company addressed that leak by plugging it, only to find more slicks surfacing days later. It is clear that despite the company’s (hopefully) best efforts, the job hasn’t been done properly, and there is little evidence… read more

Irresponsibility Punished

Gulf of Mexico oil spill

BP has agreed to pay the largest criminal fine in U.S. history—$4.5 billion—to resolve all criminal charges arising from the fatal oil rig explosion and subsequent catastrophic oil spill in the Gulf of Mexico. The company said that it had agreed to pay $4 billion to the U.S. government over five years, and $525 million to the Securities and Exchange Commission (SEC) over the next three years. However, the settlement does not resolve all of the claims against BP for the April 2010 Deepwater Horizon disaster, and the company could face billions in restoration costs to the waters, coastline, and… read more