The Gulf (The World) in Crisis: The BP Index

[Note: since this index was published 10 days ago, the figures are much worse.  Still, the figures are staggering enough.]

INSTITUTE INDEX – Gulf in crisis

Estimated gallons of oil that have spilled into Gulf of Mexico from the BP/Transocean disaster, in millions: 5 to 25

Estimated gallons of oil that spilled in 1989 Exxon Valdez disaster, in millions: 10.8

Barrels of oil used in the U.S. every year, in billions: 7.6

Amount of known oil reserves known to exist in U.S. ocean areas now prohibited from offshore drilling, in billions: 18

Number of years of U.S. oil supply that opening these areas to offshore drilling would provide: 2 years, 5 months

Amount that rig owner BP says it had spent to contain and clean up the spill: $450 milion

Number of days it takes BP to make that much in profits: 5

Number of years ago that Congress passed the Limitation of Shipowner’s Liability Act, which holds that a company is only responsible for liability up to the value of their vessel, including an oil rig: 151

Amount that Transocean has valued its failed Deepwater Horizon rig and therefore the maximum liability they claim responsibility for from oil spill damages: $27 million

Amount Transocean had valued the rig before the spill: $650 million

(Click on figure to go to original source.)


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