SENATE RESOLUTION No. 78 STATE OF NEW JERSEY. 214th LEGISLATURE INTRODUCED JULY 1, 2010

Size: px
Start display at page:

Download "SENATE RESOLUTION No. 78 STATE OF NEW JERSEY. 214th LEGISLATURE INTRODUCED JULY 1, 2010"

Transcription

1 SENATE RESOLUTION No. STATE OF NEW JERSEY th LEGISLATURE INTRODUCED JULY, 00 Sponsored by: Senator SEAN T. KEAN District (Monmouth) Senator ANDREW R. CIESLA District 0 (Monmouth and Ocean) Co-Sponsored by: Senators Connors and Whelan SYNOPSIS Urges President and Congress to permanently ban deepwater offshore oil and gas drilling off the east coast. CURRENT VERSION OF TEXT As introduced.

2 A SENATE RESOLUTION memorializing the President and Congress of the United States to make permanent the President s moratorium on deepwater offshore oil and gas drilling with regard to its application to the east coast. WHEREAS, On April 0, 00, a catastrophic explosion occurred at the Deepwater Horizon oil rig leased by British Petroleum (BP) and operated in deep offshore waters in the Gulf of Mexico which caused the deaths of people and which has resulted in the continuing release of oil from the rig into the Gulf; and WHEREAS, Millions of gallons of crude oil have been released into the Gulf so far as a result of the Deepwater Horizon spill, and because BP has, thus far, been unsuccessful in its attempts to stop the oil from leaking from the well, more and more crude oil continues to gush into the Gulf of Mexico every day; and WHEREAS, Plans to permanently seal the well are not expected to be effectuated until late in the summer of 00; and WHEREAS, The ever-growing oil spill has touched land in Alabama, Florida, Louisiana, Mississippi, and North Carolina, threatening both the ecology and the economy of those states, and by its end, is expected to impact every area of the Gulf Coast and also threaten states along the eastern seaboard, with costs amounting in the billions of dollars nationwide; and WHEREAS, Although President Barack Obama had previously proposed the authorization of expanded opportunities for oil and natural gas drilling in the Outer Continental Shelf (OCS), as a result of, and in response to the Deepwater Horizon oil spill, the President, through his Secretary of the Interior, Ken Salazar, has now declared a six-month moratorium on all new deepwater offshore oil and gas drilling projects until an investigation into oil rig regulations can be completed; and WHEREAS, The Deepwater Horizon disaster is only one of many oil spill disasters that have occurred throughout history, and is just a recent indication of the public health and environmental dangers that are associated with oil or natural gas exploration; and WHEREAS, New Jersey has a -mile coastline of beautiful beaches, which the residents of the State have long prized as one of its greatest natural resources, and which they have sought to protect and preserve by investing millions of dollars toward shore protection efforts, and by supporting numerous measures to improve water quality and reduce pollution in State coastal waters; and WHEREAS, New Jersey s close proximity to many other eastern coastal states, and the ability of strong water currents in the Atlantic Ocean to travel great distances, make offshore drilling for oil or natural gas in any waters along the east coast a crucial issue which affects the entire eastern seaboard, and all of the eastern states

3 could ultimately be negatively impacted by just one state choosing to begin drilling activities; and WHEREAS, Many of New Jersey s natural treasures, resources, and industries would be seriously jeopardized, if not destroyed or devastated, by contamination from oil spills or accidents involving the drilling for, and development of, oil and natural gas reserves off or near the State s coast; and WHEREAS, The fishing, shellfishing, and tourism industries in New Jersey contribute many millions of dollars annually to the State economy, are priceless contributors to the quality of life and enjoyment of shore communities for residents and visitors alike, and would suffer greatly from any oil spill disaster similar to the Deepwater Horizon spill, which could potentially result from allowing oil or natural gas drilling operations to occur in the waters off the eastern seaboard; and WHEREAS, This State and many other states in the nation are pursuing and developing alternative forms of energy, including solar, wind, biomass, and other renewable energy technologies, thus strengthening the country s energy independence and support system for clean and renewable energy sources, and thereby reducing the need for offshore oil and natural gas drilling; and WHEREAS, It is imperative that the United States government glean appropriate lessons from disasters such as the Deepwater Horizon oil spill, and that it take the necessary steps to ensure protection of its citizens and the environment from known and unknown hazards associated with offshore oil and natural gas drilling; and WHEREAS, It is altogether fitting and proper and in the public interest of the State of New Jersey for this House to support the President s six-month moratorium on deepwater offshore oil and natural gas drilling, and to urge the President and Congress to make it permanent with regard to its application to oil and natural gas drilling in the waters off the east coast; now, therefore, BE IT RESOLVED by the Senate of the State of New Jersey:. This House supports President Obama s six-month moratorium on all new deepwater offshore drilling for oil and natural gas, and urges the President and Congress to take whatever action is necessary to make the moratorium permanent with regard to its application to oil and natural gas drilling in the waters off the east coast.. Duly authenticated copies of this resolution, signed by the President of the Senate and attested to by the Secretary thereof, shall be transmitted to the President and Vice President of the United States, the Speaker and Minority Leader of the United States House of Representatives, the Majority and Minority Leaders of the

4 United States Senate, and to every member of Congress elected from this State. STATEMENT This resolution supports President Obama s six-month moratorium on all deepwater offshore drilling for oil and natural gas, and urges Congress and the President to take whatever action is necessary to make the moratorium permanent with regard to its application to oil and natural gas drilling in the waters off the east coast. On April 0, 00, a catastrophic explosion occurred at the Deepwater Horizon oil rig, which is leased by British Petroleum (BP) and operated in deep offshore waters in the Gulf of Mexico. This explosion killed people and caused the release of millions of gallons of crude oil into the Gulf. Although President Barack Obama had previously proposed the authorization of expanded opportunities for oil and natural gas drilling in the Outer Continental Shelf (OCS), as a result of, and in response to the Deepwater Horizon oil spill, the President, through his Secretary of the Interior, Ken Salazar, has now declared a six-month moratorium on all new deepwater offshore oil and gas drilling projects. The Deepwater Horizon disaster is only one of many oil spill disasters that have occurred throughout history, and is just a recent indication of the public health and environmental dangers associated with oil or natural gas exploration. Millions of gallons of crude oil have been released into the Gulf so far as a result of the Deepwater Horizon spill, and because BP has, thus far, been unsuccessful in its attempts to stop the oil from leaking from the well, more and more crude oil continue to gush into the Gulf of Mexico every day. Yet plans to permanently seal the well are not expected to be effectuated until late in the summer of 00. The ever-growing oil spill has touched land in the States of Alabama, Florida, Louisiana, Mississippi, and North Carolina, threatening both the ecology and the economy of those states, and by its end, is expected to impact every area of the Gulf Coast, and is likely to threaten states on the eastern seaboard as well, with costs amounting in the billions of dollars nationwide. New Jersey s close proximity to many other eastern coastal states, and the ability of strong water currents in the Atlantic Ocean to travel great distances, make offshore drilling for oil or natural gas in any waters along the east coast a crucial issue which affects the entire eastern seaboard. Many of the State s natural treasures, resources, and industries would be seriously jeopardized, if not destroyed or devastated, by contamination from oil spills or accidents similar to the Deepwater Horizon disaster, which involve the drilling for, and development of, oil and natural gas reserves off or near the State s coast. The fishing, shellfishing, and tourism industries in New Jersey contribute many millions of dollars

5 annually to the State economy and are priceless contributors to the quality of life and enjoyment of shore communities for residents and visitors alike. For these reasons and many more, it is altogether fitting and proper and in the public interest for this House to support the President s six-month moratorium on all new deepwater offshore oil and natural gas drilling, and to urge the President and Congress to make it permanent with regard to its application to oil and natural gas drilling in the waters off the east coast.

North Carolina s Response to the Deep Water Horizon: What Obama s OCS Strategy Could Mean for Us. Carrie McMillan

North Carolina s Response to the Deep Water Horizon: What Obama s OCS Strategy Could Mean for Us. Carrie McMillan North Carolina s Response to the Deep Water Horizon: What Obama s OCS Strategy Could Mean for Us Carrie McMillan On April 20, 2010 an explosion on the oil rig the Deepwater Horizon, located in the Gulf

More information

BP Criminal Plea Agreement Fact Sheet

BP Criminal Plea Agreement Fact Sheet B P O i l D i s a s t e r : R e s t o r a t i o n & R e c o v e r y BP Criminal Plea Agreement Fact Sheet FEBRUARY 2013 On November 15, 2012, the U.S. Department of Justice (DOJ) announced an agreement

More information

Gulf Coast Restoration & recovery 101 Basic policies, legal processes, and terms relevant to the Deepwater Horizon disaster

Gulf Coast Restoration & recovery 101 Basic policies, legal processes, and terms relevant to the Deepwater Horizon disaster E N V I R O N M E N T A L L A W I N S T I T U T E O C E A N P R O G R A M W W W. E L I - O C E A N. ORG/ G U L F 1 7 3 0 M S T N W, S TE 700, W A S H I N G T O N, DC 2 0 0 3 6 T EL: 2 0 2. 9 3 9. 3 8 4

More information

April 20, 2012. Two years later: the tragedy of the Deepwater Horizon oil spill

April 20, 2012. Two years later: the tragedy of the Deepwater Horizon oil spill April 20, 2012 Two years later: the tragedy of the Deepwater Horizon oil spill The most significant findings from the investigations that succeeded the Deepwater Horizon rig explosion are that the safety

More information

STATEMENT OF DOUG SLITOR, ACTING CHIEF OFFICE OF OFFSHORE REGULATORY PROGRAMS BUREAU OF OCEAN ENERGY MANAGEMENT, REGULATION, AND ENFORCEMENT BEFORE THE COMMITTEE ON EDUCATION AND LABOR UNITED STATES HOUSE

More information

THE DEEPWATER HORIZON OIL SPILL. Report Number 11-12 Date Issued: April 7, 2011

THE DEEPWATER HORIZON OIL SPILL. Report Number 11-12 Date Issued: April 7, 2011 SBA'S RESPONSE TO THE DEEPWATER HORIZON OIL SPILL Report Number 11-12 Date Issued: April 7, 2011 Prepared by the Office of Inspector General U.S. Small Business Administration o u.s. Small Business Administration

More information

CITY OF POMPANO BEACH Broward County, Florida

CITY OF POMPANO BEACH Broward County, Florida RESOLUTION NO. 2015-399 CITY OF POMPANO BEACH Broward County, Florida A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, OPPOSING THE OIL DRILLING PERMIT APPLICATION SUBMITTED BY

More information

Deepwater Horizon Oil Spill Phase I Early Restoration Plan and Environmental Assessment

Deepwater Horizon Oil Spill Phase I Early Restoration Plan and Environmental Assessment Deepwater Horizon Oil Spill Phase I Early Restoration Plan and Environmental Assessment Prepared by the Deepwater Horizon Natural Resource Trustees from State of Alabama State of Florida State of Louisiana

More information

BP OIL SPILL ON THE DEEPWATER HORIZON OIL RIG PESONS AND ENTITIES THAT MAY HAVE A CLAIM FOR DAMAGES

BP OIL SPILL ON THE DEEPWATER HORIZON OIL RIG PESONS AND ENTITIES THAT MAY HAVE A CLAIM FOR DAMAGES BP OIL SPILL ON THE DEEPWATER HORIZON OIL RIG PESONS AND ENTITIES THAT MAY HAVE A CLAIM FOR DAMAGES 1. Fishermen, oyster harvesters, shrimpers, or businesses involved in the processing and packaging for

More information

NATion and north carolina

NATion and north carolina Energy Challenges for the NATion and north carolina NOIA s mission is to secure reliable access to the nation s valuable offshore energy resources in order that they may be developed, produced and supplied

More information

Earth Day Coincides With Heated Debates Over Environmental Rules

Earth Day Coincides With Heated Debates Over Environmental Rules Earth Day Coincides With Heated Debates Over Environmental Rules April 22, 2011 An oil spill in California was behind the creation of the first Earth Day in 1970. Now, 41 years later, the worst oil disaster

More information

Interim Report 2011-102 October 1, 2010

Interim Report 2011-102 October 1, 2010 Committee on Agriculture The Florida Senate Interim Report 2011-102 October 1, 2010 IMPACT OF DEEPWATER HORIZON OIL LEAK ON AQUACULTURE Issue Description The Department of Agriculture and Consumer Services

More information

Some Preliminary Macroeconomic Impacts of the 2010 Deepwater Horizon Oil Gusher on Alabama

Some Preliminary Macroeconomic Impacts of the 2010 Deepwater Horizon Oil Gusher on Alabama Some Preliminary Macroeconomic Impacts of the 2010 Deepwater Horizon Oil Gusher on Alabama Samuel Addy, Ph.D. and Ahmad Ijaz Center for Business and Economic Research Culverhouse College of Commerce and

More information

Offshore Alabama Prepared by the University of South Alabama MBA Consulting Group in December 2010

Offshore Alabama Prepared by the University of South Alabama MBA Consulting Group in December 2010 Offshore Alabama Prepared by the University of South Alabama MBA Consulting Group in December 2010 Executive Summary The Mobile Area Chamber of Commerce s Oil and Gas Task Force (Task Force) was created

More information

BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims - WSJ

BP Agrees to Pay $18.7 Billion to Settle Deepwater Horizon Oil Spill Claims - WSJ Page 1 of 5 This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. http://www.wsj.com/articles/bp-agrees-to-pay-18-7-billion-to-settle-deepwater-horizon-oil-spill-claims-1435842739

More information

AP ENVIRONMENTAL SCIENCE 2015 SCORING GUIDELINES

AP ENVIRONMENTAL SCIENCE 2015 SCORING GUIDELINES AP ENVIRONMENTAL SCIENCE 2015 SCORING GUIDELINES Question 3 Oil spills can be devastating in scope and damage. Since 1900, there have been many oil spills around the world that have had significant ecological

More information

Gulf Coast Jobs and the Deepwater Horizon Oil Spill

Gulf Coast Jobs and the Deepwater Horizon Oil Spill Gulf Coast Jobs and the Deepwater Horizon Oil Spill On April 20 2010, the Deepwater Horizon explosion caused 11 deaths and the largest oil-well spill in U.S. history. Prior to the explosion, total employment

More information

National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling. Report to the President. www.oilspillcommission.

National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling. Report to the President. www.oilspillcommission. National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling Report to the President www.oilspillcommission.gov 1 Causes of Explosion The Deepwater Horizon disaster was foreseeable and

More information

Moratorium Following the BP Oil Spill. The Deepwater Horizon tragedy was the most extensive and

Moratorium Following the BP Oil Spill. The Deepwater Horizon tragedy was the most extensive and Jesse Lagarde Moratorium Following the BP Oil Spill Summary The Deepwater Horizon tragedy was the most extensive and devastating oil industry disasters in US history. 1 Along with leaving eleven workers

More information

The True Cost of the BP Oil Spill for People, Communities, and the Environment

The True Cost of the BP Oil Spill for People, Communities, and the Environment The True Cost of the BP Oil Spill for People, Communities, and the Environment Calculating economic and environmental damages from any oil spill, let alone a spill the size of BP s Deepwater Horizon is

More information

Claims & Litigation Overview

Claims & Litigation Overview B P O i l D i s a s t e r : R e s t o r a t i o n & R e c o v e r y Claims & Litigation Overview DECEMBER 2013 Hundreds of lawsuits have been filed as a result of the Deepwater Horizon disaster. These

More information

MINERALS MANAGEMENT SERVICE

MINERALS MANAGEMENT SERVICE MINERALS MANAGEMENT SERVICE Mission The Minerals Management Service was formed by Secretarial Order in 1982 to facilitate the Nation s mineral revenue collection efforts and the management of its Outer

More information

Deepwater Horizon Oil Spill: Recent Activities and Ongoing Developments

Deepwater Horizon Oil Spill: Recent Activities and Ongoing Developments Deepwater Horizon Oil Spill: Recent Activities and Ongoing Developments Jonathan L. Ramseur Specialist in Environmental Policy Curry L. Hagerty Specialist in Energy and Natural Resources Policy January

More information

Deepwater Horizon Settlement Update

Deepwater Horizon Settlement Update Deepwater Horizon Settlement Update Agreement in Principle with BP Exploration and Production on State and Federal Claims Louisiana State Senate Committees on Finance and Natural Resources July 27, 2015

More information

Unveiling the disaster. A satellite based habitat impact assessment of the Deepwater Horizon Oil Spill

Unveiling the disaster. A satellite based habitat impact assessment of the Deepwater Horizon Oil Spill Unveiling the disaster A satellite based habitat impact assessment of the Deepwater Horizon Oil Spill Gulf of Mexico Background of the disaster The Gulf oil spill situation has evolved, and so have the

More information

ACRL Law & Political Science Section Annual Program American Library Association Saturday, June 25th 2011

ACRL Law & Political Science Section Annual Program American Library Association Saturday, June 25th 2011 ACRL Law & Political Science Section Annual Program American Library Association Saturday, June 25th 2011 The Legal Consequences of Environmental Crises: What Librarians Need to Know about the Gulf Oil

More information

Claims & Litigation Overview

Claims & Litigation Overview B P O i l D i s a s t e r : R e s t o r a t i o n & R e c o v e r y Claims & Litigation Overview SEPTEMBER 2014 Thousands of lawsuits have been filed as a result of the Deepwater Horizon disaster. These

More information

Deep Trouble: The Gulf Coast Oil Spill

Deep Trouble: The Gulf Coast Oil Spill Deep Trouble: The Gulf Coast Oil Spill A Reading A Z Level U Leveled Reader Word Count: 1,216 LEVELED READER U Deep Trouble: The Gulf Coast Oil Spill Written by Ned Jensen Visit www.readinga-z.com for

More information

DAMAGES ASSERTED BY THE STATE OF LOUISIANA FROM THE BP OIL SPILL AND THE THEORIES OF RECOVERY FOR WHICH THOSE DAMAGES ARE BASED

DAMAGES ASSERTED BY THE STATE OF LOUISIANA FROM THE BP OIL SPILL AND THE THEORIES OF RECOVERY FOR WHICH THOSE DAMAGES ARE BASED DAMAGES ASSERTED BY THE STATE OF LOUISIANA FROM THE BP OIL SPILL AND THE THEORIES OF RECOVERY FOR WHICH THOSE DAMAGES ARE BASED By: Courtney Williams-Speed Admiralty Fall 2012 Professor Kenny Hooks TABLE

More information

BACKGROUNDER. Deepwater Horizon and the Patchwork of Oil Spill Liability Law. Nathan Richardson. May 2010

BACKGROUNDER. Deepwater Horizon and the Patchwork of Oil Spill Liability Law. Nathan Richardson. May 2010 May 2010 BACKGROUNDER Deepwater Horizon and the Patchwork of Oil Spill Liability Law Nathan 1616 P St. NW Washington, DC 20036 202-328-5000 www.rff.org Deepwater Horizon and the Patchwork of Oil Spill

More information

'Additional Insured' At Stake In Texas High Court BP Case

'Additional Insured' At Stake In Texas High Court BP Case Portfolio Media. Inc. 860 Broadway, 6th Floor New York, NY 10003 www.law360.com Phone: +1 646 783 7100 Fax: +1 646 783 7161 customerservice@law360.com 'Additional Insured' At Stake In Texas High Court

More information

Overview of U.S. Legislation and Regulations Affecting Offshore Natural Gas and Oil Activity

Overview of U.S. Legislation and Regulations Affecting Offshore Natural Gas and Oil Activity Overview of U.S. Legislation and Regulations Affecting Offshore Natural Gas and Oil Activity This article presents a summary of the legislative and regulatory regime that affects natural gas and oil exploration

More information

A View from the (Deepwater) Horizon: Regulatory and Statutory Developments Affecting Offshore Drilling and. Spill Liability.

A View from the (Deepwater) Horizon: Regulatory and Statutory Developments Affecting Offshore Drilling and. Spill Liability. A View from the (Deepwater) Horizon: Regulatory and Statutory Developments Affecting Offshore Drilling and Spill Liability Gerald D. Higdon 600 Travis, Suite 2800 Houston, TX 77002 713-238-3709 jhigdon@lockelord.com

More information

The Deepwater Horizon Oil Spill A Case Study about the Development of an Evolving Communication Strategy

The Deepwater Horizon Oil Spill A Case Study about the Development of an Evolving Communication Strategy The Deepwater Horizon Oil Spill A Case Study about the Development of an Evolving Communication Strategy Written by: Jothika Cholan Tyler Makin Samantha Smith Bachelor s Degree Candidates Dr. RS Hubbard

More information

Subtitle F Gulf Coast Restoration

Subtitle F Gulf Coast Restoration H. R. 4348 184 A State may permit the installation of signs that acknowledge the sponsorship of rest areas within such rest areas or along the main traveled way of the system, provided that such signs

More information

Regulating Offshore Renewable Energy Leasing and Development

Regulating Offshore Renewable Energy Leasing and Development Regulating Offshore Renewable Energy Leasing and Development Robert P. LaBelle Acting Associate Director Offshore Energy and Minerals Management Bureau of Ocean Energy Management, Regulation and Enforcement

More information

Storm Surge: A Rising Danger by Andrew M. Dzambo

Storm Surge: A Rising Danger by Andrew M. Dzambo Storm Surge: A Rising Danger by Andrew M. Dzambo Citizens of the United States are migrating towards the nation s coasts; according to the U.S. Census Bureau, the U.S. coastal watershed county population

More information

INVESTIGATION REPORT OVERVIEW

INVESTIGATION REPORT OVERVIEW US CHEMICAL SAFETY AND HAZARD INVESTIGATION BOARD INVESTIGATION REPORT OVERVIEW EXPLOSION AND FIRE AT THE MACONDO WELL (11 Fatalities, 17 Seriously Injured, and Serious Environmental Damage) DEEPWATER

More information

The Deepwater Horizon Oil Spill: An Explanation. A Zine By Sean XVX

The Deepwater Horizon Oil Spill: An Explanation. A Zine By Sean XVX The Deepwater Horizon Oil Spill: An Explanation A Zine By Sean XVX Written June 15-18, 2010 1 Introduction Chances are that you ve heard of the BP/Gulf Of Mexico/Deepwater Horizon oil spill. It s a fucking

More information

Background Guide DEEPWATER HORIZON UMASSMUN 2012

Background Guide DEEPWATER HORIZON UMASSMUN 2012 Background Guide DEEPWATER HORIZON UMASSMUN 2012 DEEPWATER HORIZON Delegates, Let this be your first welcome to UMASSMUN 2012 and the Deepwater Horizon Committee. The timeline for the committee will begin

More information

Gulf Coast Ecosystem Restoration Council

Gulf Coast Ecosystem Restoration Council Gulf Coast Ecosystem Restoration Council Progress Report August 2013-August 2014 Background In July 2012, The Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the

More information

[Docket ID BSEE-2015-0007; OMB Control Number 1014-0013; 15XE1700DX. Information Collection Activities: Global Positioning Systems (GPS) for

[Docket ID BSEE-2015-0007; OMB Control Number 1014-0013; 15XE1700DX. Information Collection Activities: Global Positioning Systems (GPS) for This document is scheduled to be published in the Federal Register on 08/26/2015 and available online at http://federalregister.gov/a/2015-21103, and on FDsys.gov 4310-VH-P DEPARTMENT OF THE INTERIOR Bureau

More information

Estimating the Economic Effects of the Deepwater Drilling Moratorium on the Gulf Coast Economy. Inter-Agency Economic Report. September 16, 2010

Estimating the Economic Effects of the Deepwater Drilling Moratorium on the Gulf Coast Economy. Inter-Agency Economic Report. September 16, 2010 Estimating the Economic Effects of the Deepwater Drilling Moratorium on the Gulf Coast Economy Inter-Agency Economic Report September 16, 2010 Executive Summary The BP Deepwater Horizon drilling rig,

More information

Jen Banks Wind Energy Project Coordinator North Carolina Solar Center

Jen Banks Wind Energy Project Coordinator North Carolina Solar Center Jen Banks Wind Energy Project Coordinator North Carolina Solar Center North Carolina Solar Center Mission Statement to advance the use of renewable energy resources to ensure a sustainable economy that

More information

The Big Oil Spill: The Market Value Consequences of the Deepwater Horizon Disaster

The Big Oil Spill: The Market Value Consequences of the Deepwater Horizon Disaster The Big Oil Spill: The Market Value Consequences of the Deepwater Horizon Disaster Name: G.J.H. Goossens ANR: 397966 Graduation Date: November 22, 2012 Graduation Department: Finance Supervisor: dr. O.G.

More information

TESTIMONY. Ethan Treese. Hearing entitled: The Deepwater Drilling Moratorium: A Second Economic Disaster for Small Businesses?

TESTIMONY. Ethan Treese. Hearing entitled: The Deepwater Drilling Moratorium: A Second Economic Disaster for Small Businesses? TESTIMONY Hearing entitled: The Deepwater Drilling Moratorium: A Second Economic Disaster for Small Businesses? Ethan Treese Vice President, Government Solutions, Dun & Bradstreet Testimony presented before

More information

Oil spill approaches Louisiana coast

Oil spill approaches Louisiana coast Oil spill approaches Louisiana coast Late on the night of April 20th, 50 miles from the shore of Louisiana, a fire broke out aboard the Transocean Deepwater Horizon oil rig under lease by BP, with 126

More information

Senator Roger F. Wicker Testimony on the Reauthorization of the National Flood Insurance Program Senate Banking Committee June 9, 2011

Senator Roger F. Wicker Testimony on the Reauthorization of the National Flood Insurance Program Senate Banking Committee June 9, 2011 Senator Roger F. Wicker Testimony on the Reauthorization of the National Flood Insurance Program Senate Banking Committee June 9, 2011 Thank you, Chairman Johnson and Ranking Member Shelby, for holding

More information

Total Cost of the 2010 Deepwater Horizon Oil Spill Reflected in US Stock Market

Total Cost of the 2010 Deepwater Horizon Oil Spill Reflected in US Stock Market Total Cost of the 2010 Deepwater Horizon Oil Spill Reflected in US Stock Market Yong-Gyo Lee University of Houston-Victoria Xavier Garza-Gomez University of Houston-Victoria Based on a market-based measure,

More information

assessments conducted following the spill, many industry players think that the BP spill

assessments conducted following the spill, many industry players think that the BP spill Anacletus Z. Gyinia(S02171548) Admiralty Class Assignment. Topic: Deepwater Horizon Oil Spill: Legal and Regulatory Framework in Spill Management and Recovery. INTRODUCTION The Deepwater Horizon Oil Spill

More information

BEYOND COMPENSATION FOR OFFSHORE DRILLING ACCIDENTS: LOWERING RISKS, IMPROVING RESPONSE

BEYOND COMPENSATION FOR OFFSHORE DRILLING ACCIDENTS: LOWERING RISKS, IMPROVING RESPONSE \\jciprod01\productn\m\msl\30-2\msl207.txt unknown Seq: 1 13-SEP-11 16:12 BEYOND COMPENSATION FOR OFFSHORE DRILLING ACCIDENTS: LOWERING RISKS, IMPROVING RESPONSE Kenneth M. Murchison* I. INTRODUCTION The

More information

with a consortium of law firms collectively referred to as "Special Legal Counsel") to serve as

with a consortium of law firms collectively referred to as Special Legal Counsel) to serve as RESOLUTION NO. 15-07-62 (the "Litigation"); and A RESOLUTION OF THE VILLAGE COUNCIL OF ISLAMORADA, VILLAGE OF ISLANDS, FLORIDA, APPROVING AND AUTHORIZING THE SETTLEMENT OF LITIGATION ENTINTLED IN RE: OIL

More information

Offshore development benefits. www.shell.us/alaska

Offshore development benefits. www.shell.us/alaska 8 C H A P T E R E i g h t: Offshore development benefits www.shell.us/alaska Barrow, Alaska The Ripples of Offshore Development Benefits Energy production has done much for Alaskans previously, and by

More information

Case 2:10-cv-01741-SRD-KWR Document 1 Filed 06/15/10 Page 1 of 35 UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF LOUISIANA

Case 2:10-cv-01741-SRD-KWR Document 1 Filed 06/15/10 Page 1 of 35 UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF LOUISIANA Case 2:10-cv-01741-SRD-KWR Document 1 Filed 06/15/10 Page 1 of 35 UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF LOUISIANA KHA VAN NGUYEN; THIET VAN KIEU; * CASE NO.: DUNG TRAN; and HUU VAN NGUYEN;

More information

PLT Activity Connections to the Gulf Oil Spill

PLT Activity Connections to the Gulf Oil Spill PLT Activity Connections to the Gulf Oil Spill More than four million barrels of oil spilled into the Gulf of Mexico during the 87-day period following the explosion at the Deepwater Horizon drilling rig

More information

Deepwater Horizon BP Well Blowout

Deepwater Horizon BP Well Blowout Deepwater Horizon BP Well Blowout Contractual Indemnities/Statutory Liability/Effect on US Gulf of Mexico Oil and Gas Industry Ben H. Welmaker, Jr. Partner Baker & McKenzie Houston, Texas 77002-2746 ben.welmaker@bakermckenzie.com

More information

ACTION PROPOSAL to the American Nurses Association 2012 HOUSE OF DELEGATES Nurses Role in Recognizing, Educating, and Advocating for Healthy Energy

ACTION PROPOSAL to the American Nurses Association 2012 HOUSE OF DELEGATES Nurses Role in Recognizing, Educating, and Advocating for Healthy Energy TITLE: Choices ACTION PROPOSAL to the American Nurses Association 2012 HOUSE OF DELEGATES Nurses Role in Recognizing, Educating, and Advocating for Healthy Energy EXECUTIVE SUMMARY [a brief synopsis of

More information

Cooper: New Energy Symposium

Cooper: New Energy Symposium Cooper: New Energy Symposium What will the market for solar energy look like in three different time horizons, 5 years out, 10 years out, 20 year out? Note that various projections have PV reaching grid

More information

CASE: British Petroleum Oil Spill in the Gulf of Mexico

CASE: British Petroleum Oil Spill in the Gulf of Mexico CASE: British Petroleum Oil Spill in the Gulf of Mexico Esperanza Martinez, Accion Ecologica, Ecuador GENERAL INFORMATION Esperanza Martinez, Biologist, Environmental Auditor Ecology Action Member Attorney,

More information

Case 2:10-md-02179-CJB-SS Document 14206 Filed 02/19/15 Page 1 of 7 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF LOUISIANA * * * * * * * *

Case 2:10-md-02179-CJB-SS Document 14206 Filed 02/19/15 Page 1 of 7 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF LOUISIANA * * * * * * * * Case 2:10-md-02179-CJB-SS Document 14206 Filed 02/19/15 Page 1 of 7 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF LOUISIANA In re: Oil Spill by the Oil Rig Deepwater Horizon in the Gulf of Mexico, on

More information

1 SB267 2 172818-5. 3 By Senators Hightower, Figures, Glover, Ward, Waggoner, Marsh, 4 Pittman and Albritton (Constitutional Amendment)

1 SB267 2 172818-5. 3 By Senators Hightower, Figures, Glover, Ward, Waggoner, Marsh, 4 Pittman and Albritton (Constitutional Amendment) 1 SB267 2 172818-5 3 By Senators Hightower, Figures, Glover, Ward, Waggoner, Marsh, 4 Pittman and Albritton (Constitutional Amendment) 5 RFD: Finance and Taxation General Fund 6 First Read: 17-FEB-16 Page

More information

Introduction. So, What Is a Btu?

Introduction. So, What Is a Btu? Introduction The way of life that we Americans take for granted every day depends upon a stable and abundant supply of affordable energy. Energy shortages can quickly affect our everyday lives and harm

More information

Florida Institute of Oceanography

Florida Institute of Oceanography Florida Institute of Oceanography Dr. William T. Hogarth, Interim Director, FIO & Dr. Jyotika I. Virmani, Associate Director, FIO National Water Quality Monitoring Council New Orleans, LA May 3-5, 2011

More information

Safety, Efficiency, and Productivity: Conflict or Cooperative? The BP Deepwater Horizon Accident Personal Observations

Safety, Efficiency, and Productivity: Conflict or Cooperative? The BP Deepwater Horizon Accident Personal Observations Safety, Efficiency, and Productivity: Conflict or Cooperative? The BP Deepwater Horizon Accident Personal Observations Najm Meshkati Professor Department of Civil/Environmental Engineering Department of

More information

B. Legal Authority to Grant SOOs

B. Legal Authority to Grant SOOs any suspensions. In addition, BSEE indicated that Statoil needed to submit a reasonable schedule of work to support its suspension requests. Following up on those meetings, BSEE and Statoil exchanged e-mails

More information

BOEM s Offshore Renewable Energy Process: North Carolina

BOEM s Offshore Renewable Energy Process: North Carolina BOEM s Offshore Renewable Energy Process: North Carolina Maureen A. Bornholdt Program Manager Office of Renewable Energy Programs Bureau of Ocean Energy Management Bureau of Ocean Energy Management Bureau

More information

ne year after the catastrophic oil spill that resulted from the explosion of the Deepwater Horizon mobile offshore drilling unit, personnel from

ne year after the catastrophic oil spill that resulted from the explosion of the Deepwater Horizon mobile offshore drilling unit, personnel from ne year after the catastrophic oil spill that resulted from the explosion of the Deepwater Horizon mobile offshore drilling unit, personnel from Naval Sea Systems Command s Supervisor of Salvage and Diving

More information

Abstract. $4+/Gallon Gasoline and $110+/Barrel Oil

Abstract. $4+/Gallon Gasoline and $110+/Barrel Oil Larch Occasional Paper #9 February 2012 Pacific Northwest Offshore Oil and Gas Potential: At Best About A Month s National Supply; At Worse An Unnatural Disaster by Andy Kerr 1 Abstract The most substantial

More information

The Changing Landscape of the National Flood Insurance Program: A Federal Perspective. Niki L. Pace *

The Changing Landscape of the National Flood Insurance Program: A Federal Perspective. Niki L. Pace * The Changing Landscape of the National Flood Insurance Program: A Federal Perspective Niki L. Pace * In the last few years, the National Flood Insurance Program (NFIP) has seen changes at both the legislative

More information

Simulate an Oil Spill Cleanup

Simulate an Oil Spill Cleanup This website would like to remind you: Your browser (Apple Safari 7) is out of date. Update your browser for more security, comfort and the best experience on this site. Activitydevelop Simulate an Oil

More information

How Geomembranes Have Been Instrumental in Cleaning Up BP's Oily Mess

How Geomembranes Have Been Instrumental in Cleaning Up BP's Oily Mess How Geomembranes Have Been Instrumental in Cleaning Up BP's Oily Mess By: Bill Shehane Seaman Corporation September 2010 How Geomembranes Have Been Instrumental in Cleaning Up BP's Oily Mess The largest

More information

Module No. # 02. Impact of oil and gas industry on marine environment

Module No. # 02. Impact of oil and gas industry on marine environment Health, Safety and Environmental Management in Petroleum and offshore Engineering Dr. Srinivasan Chandrasekaran Department of Ocean Engineering Indian Institute of Technology, Madras Module No. # 02 Lecture

More information

http://www.youtube.com/watch? v=pe-1g_476na&feature=player_embed

http://www.youtube.com/watch? v=pe-1g_476na&feature=player_embed On April 20, 2010, the explosion of the BP Deepwater Horizon oil drilling platform, located 90 km offshore in the Mississippi Canyon, caused a 87-day blowout of the Macondo well. During this period, crude

More information

Legal background paper: Environmental Regulation of Oil Rigs in EU Waters and Potential Accidents

Legal background paper: Environmental Regulation of Oil Rigs in EU Waters and Potential Accidents Legal background paper: Environmental Regulation of Oil Rigs in EU Waters and Potential Accidents Sandy Luk Senior Lawyer, Marine Programme, ClientEarth; Rowan Ryrie Marine Biodiversity Lawyer, ClientEarth

More information

Chemical Accidents. Dr. Omid Kalatpour CEOH

Chemical Accidents. Dr. Omid Kalatpour CEOH Chemical Accidents Dr. Omid Kalatpour CEOH Bhopal Gas Tragedy, India The worst industrial tragedy ever known pesticide manufacturing company Over 500,000 people were exposed to the deadly methyl isocyanate

More information

Texas - Mitigation and the Recession

Texas - Mitigation and the Recession Focus on Texas: TWIA Daniel Sutter University of Texas Pan American What is TWIA s Biggest Problem? The danger of growing too large to reform. TWIA has grown substantially in the past decade, although

More information

The Labor Market Impacts of the 2010 Deepwater Horizon Oil Spill and Offshore Oil Drilling Moratorium. Joseph E. Aldy* August 15, 2013 Draft

The Labor Market Impacts of the 2010 Deepwater Horizon Oil Spill and Offshore Oil Drilling Moratorium. Joseph E. Aldy* August 15, 2013 Draft The Labor Market Impacts of the 2010 Deepwater Horizon Oil Spill and Offshore Oil Drilling Moratorium Joseph E. Aldy* August 15, 2013 Draft * Aldy is an Assistant Professor of Public Policy, Harvard Kennedy

More information

Overview of the Division of Water Restoration Assistance

Overview of the Division of Water Restoration Assistance Overview of the Division of Water Restoration Assistance Presented by Trina Vielhauer Director, Division of Water Restoration Assistance Water Restoration Assistance Trina Vielhauer Director State Revolving

More information

ASSEMBLY, No. 478 STATE OF NEW JERSEY. 209th LEGISLATURE PRE-FILED FOR INTRODUCTION IN THE 2000 SESSION

ASSEMBLY, No. 478 STATE OF NEW JERSEY. 209th LEGISLATURE PRE-FILED FOR INTRODUCTION IN THE 2000 SESSION ASSEMBLY, No. STATE OF NEW JERSEY 0th LEGISLATURE PRE-FILED FOR INTRODUCTION IN THE 000 SESSION Sponsored by: Assemblyman JOSEPH SULIGA District 0 (Union) SYNOPSIS Prohibits motor carriers from compensating

More information

world. On April 20, 2010, BP s Deepwater Horizon oilrig in the Gulf of Mexico exploded, killing

world. On April 20, 2010, BP s Deepwater Horizon oilrig in the Gulf of Mexico exploded, killing Amanda Albert BA 2196 Section 002/Prof. Glenn-Fleming Writing Assignment: BP s Oil Spill Response BP is a British multinational oil and gas company, the fifth largest energy company in the world. On April

More information

Programs. Department-wide Programs Funding

Programs. Department-wide Programs Funding Department-wide Programs Overview Department-wide programs support bureaus and offices through the execution of activities that are broad in scope and impact. These programs complement the many diverse

More information

MANAGING MAINTENANCE OPERATIONS IN THE OFFSHORE INDUSTRY

MANAGING MAINTENANCE OPERATIONS IN THE OFFSHORE INDUSTRY WÄRTSILÄ SERVICES BUSINESS WHITE PAPER MANAGING MAINTENANCE OPERATIONS IN THE OFFSHORE INDUSTRY The global offshore industry operates under an umbrella of regulatory requirements that are focused on operational

More information

NOIA s mission is to secure reliable access to the nation s valuable. and supplied in an environmentally responsible manner.

NOIA s mission is to secure reliable access to the nation s valuable. and supplied in an environmentally responsible manner. Energy Challenges for wisconsin and the NATion NOIA s mission is to secure reliable access to the nation s valuable offshore energy resources in order that they may be developed, produced and supplied

More information

Pay Later: The Cost of Inaction. Climate change will have a negative impact on many of the industries that 3500 3000 2500 2000 1500 1000 500 5.

Pay Later: The Cost of Inaction. Climate change will have a negative impact on many of the industries that 3500 3000 2500 2000 1500 1000 500 5. FACTS CONNECTICUT A M E R I C A N S E C U R I T Y P R O J E C T Pay Now, Pay Later: Connecticut The Environmental Protection Agency estimates that the cost of protecting Connecticut s coast from the potential

More information

Whatever your experience relating successfully with traditional media. Crisis Communication Plan in Action: Social Media

Whatever your experience relating successfully with traditional media. Crisis Communication Plan in Action: Social Media 7 Crisis Communication Plan in Action: Social Media Keywords: legacy media, social media, digital media, blogs, YouTube, Flickr, Twitter, Facebook, citizen journalist, micro-communities, social media monitoring,

More information

MINERALS MANAGEMENT SERVICE

MINERALS MANAGEMENT SERVICE MINERALS MANAGEMENT SERVICE Mission The Minerals Management Service was formed by Secretarial Order in 1982 to facilitate the Nation s mineral revenue collection efforts and the management of its Outer

More information

http://agnis/sites/amsissuances/shared%20documents/282.7.htm

http://agnis/sites/amsissuances/shared%20documents/282.7.htm Page 1 of 5 Directive Status List of Attachments Abatement of Air and Water Pollution at Federal Facilities I PURPOSE This Instruction sets forth policy and responsibilities in the Agricultural Marketing

More information

U.S. Offshore Oil and Gas Resources: Prospects and Processes

U.S. Offshore Oil and Gas Resources: Prospects and Processes U.S. Offshore Oil and Gas Resources: Prospects and Processes Marc Humphries Analyst in Energy Policy Robert Pirog Specialist in Energy Economics Gene Whitney Section Research Manager April 26, 2010 Congressional

More information

COMMERCIAL LANDINGS STATISTICS RED SNAPPER IN THE GULF OF MEXICO. John Poffenberger 1

COMMERCIAL LANDINGS STATISTICS RED SNAPPER IN THE GULF OF MEXICO. John Poffenberger 1 SEDAR 7-DW-23 COMMERCIAL LANDINGS STATISTICS RED SNAPPER IN THE GULF OF MEXICO John Poffenberger 1 I. Introduction Data on the quantity and value of seafood products have been collected in varying forms

More information

Adjusted net profit, stripping out fluctuations in the value of inventories, plunged by almost 50 percent to $11.99 billion.

Adjusted net profit, stripping out fluctuations in the value of inventories, plunged by almost 50 percent to $11.99 billion. LONDON: British energy giant BP on Tuesday said its net profits slumped by more than half last year on fines and asset sales linked to the 2010 Gulf of Mexico oil spill disaster, ahead of a US trial later

More information

Offshore Renewable Energy in Virginia

Offshore Renewable Energy in Virginia Offshore Renewable Energy in Virginia Presented to the Renewable Natural Resources Foundation December, 8 2009 Neil Rondorf Vice President, Maritime Operations Science Applications International Corporation

More information

Louisiana s Crude. How Citizen Scientists Help Monitor the Effects of Oil on Birds

Louisiana s Crude. How Citizen Scientists Help Monitor the Effects of Oil on Birds Louisiana s Crude How Citizen Scientists Help Monitor the Effects of Oil on Birds These images by Bart Siegel bear witness to the hazards to marine life in the northern Gulf of Mexico. Siegel was a volunteer

More information

imgkid.com OIL SPILLS

imgkid.com OIL SPILLS OIL SPILLS imgkid.com OIL SPILLS An oil spill occurs when liquid petroleum hydrocarbon is released into the environment. The term applies to spills in the ocean or coastal waters, rivers, or on land. Oil

More information

Mississippi Emergency Management Agency Executive Director Mike Womack. MCDEMA Mid-Winter Conference November 15, 2010

Mississippi Emergency Management Agency Executive Director Mike Womack. MCDEMA Mid-Winter Conference November 15, 2010 Mississippi Emergency Management Agency Executive Director Mike Womack MCDEMA Mid-Winter Conference November 15, 2010 Busy 2010 for Emergency Management No Hurricanes but January: Freezing temperatures

More information

Green Project Management and the BP Deepwater Horizon Spill

Green Project Management and the BP Deepwater Horizon Spill PM WORLD TODAY VIEWPOINT SEPTEMBER 2010 Green Project Management and the BP Deepwater Horizon Spill By Rich Maltzman, PMP and David Shirley, PMP EarthPM and Tom Mochal, PMP, PgMP, TSPM and Andrea Krasnoff,

More information

WHEREAS environmental stewardship is one of the City of Santa Monica s core

WHEREAS environmental stewardship is one of the City of Santa Monica s core City Council Meeting October 11 2011 Santa Monica California RESOLUTION NUMBER jotp 2 1 CCS City Council Series A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA MONICA IN SUPPORT OF REDUCING GREENHOUSE

More information

DISCUSSION PAPER. Managing Environmental, Health, and Safety Risks. A Comparative Assessment of the Minerals Management Service and Other Agencies

DISCUSSION PAPER. Managing Environmental, Health, and Safety Risks. A Comparative Assessment of the Minerals Management Service and Other Agencies DISCUSSION PAPER January 2011 RFF DP 10-64 Managing Environmental, Health, and Safety Risks A Comparative Assessment of the Minerals Management Service and Other Agencies Lynn Scarlett, Arthur Fraas, Richard

More information

Case 2:10-md-02179-CJB-SS Document 6430-34 Filed 05/03/12 Page 1 of 9 EXHIBIT 16

Case 2:10-md-02179-CJB-SS Document 6430-34 Filed 05/03/12 Page 1 of 9 EXHIBIT 16 Case 2:10-md-02179-CJB-SS Document 6430-34 Filed 05/03/12 Page 1 of 9 EXHIBIT 16 Case 2:10-md-02179-CJB-SS Document 6430-34 Filed 05/03/12 Page 2 of 9 Excluded Industries Chart Exclusion: Claims for recovery

More information

Storm tide is the water level rise during a storm due to the combination of storm surge and the astronomical tide.

Storm tide is the water level rise during a storm due to the combination of storm surge and the astronomical tide. INTRODUCTION TO STORM SURGE Introduction to Storm Surge BOLIVAR PENINSULA IN TEXAS AFTER HURRICANE IKE (2008) What is Storm Surge? Inland Extent Storm surge can penetrate well inland from the coastline.

More information

January 13, 2011. Part One Fisheries. Part Two Moratoria. Part Three Brand Damage

January 13, 2011. Part One Fisheries. Part Two Moratoria. Part Three Brand Damage A Study of the Economic Impact of the Deepwater Horizon Oil Spill January 13, 2011 Part One Fisheries Part Two Moratoria Part Three Brand Damage Table of Contents Acknowledgements pg. 3 Executive Summary

More information