First off, the cost of production for most producers is significantly higher than that. The easy, cheap oil is gone. That’s why we are drilling a mile deep for oil in the Gulf of Mexico. But the other reason that oil prices aren’t going down soon is because demand has been recovering.
via www.consumerenergyreport.com
BP admitted today its managers on the Deepwater Horizon missed key warning signs in the hours before the explosion aboard the oil rig, but an internal investigation put much of the blame on other companies involved in the well.
A 234-page report described eight main causes for the blast, which killed 11 men and created an environmental disaster. The full report also contained - within the detailed analysis of the operation - a comprehensive, minute-by-minute timeline of every event, as it happened. BP have also produced a graphic video animation.
An offshore oil platform owned by Mariner Energy, Inc. explodes about 100 miles off the Louisiana coast on September 2, 2010. The accident occurred about 200 miles west of the blown-out BP well that spewed millions of gallons of crude into the gulf. Thirteen men aboard the rig were accounted for and no deaths were reported.
via news.yahoo.com
Russian oil is exported all over the world. But most of it - 87 percent - goes to Europe.
via en.rian.ru
This chart illustrates, in comparison with daily American or global consumption, five million barrels is just a drop in the (admittedly enormous) petroleum industry bucket.
via www.theatlantic.com
Deepwater Disaster: The scope of the Gulf of Mexico oil spill, the toll of the damage, the voices of loss.
via www.nola.com
Humans have found a diverse number of ways to ruin one of the earth's most beautiful resources. Everything from biological waste to nuclear reactors are being dumped in the ocean.
This infographic will reveal a few types of ocean dumping. This is a topic that is on all of our minds and in the media – thanks BP – but oil is just the tip of the iceberg. Mother Nature is not happy!
The attention has shifted to the effects all that oil will have on wildlife and the ecosystem. Slate reports on where all of that BP oil could end up during the next 130 days, based on modeling data from the National Centre for Atmospheric Research.
The following visualizations will pause at interesting moments in each scenario.
Obviously BP has lost a lot of money on their whole oil spill fiasco, but here's a different perspective on just how much money that is.
via www.visualeconomics.com