Category Archives: Gulf Coast BP Oil Spill

William Bruce discusses the effect of the BP Oil Spill in the Gulf of Mexico at the Deepwater Horizon Rig.

The Condition of Small Businesses on the Gulf Coast One Year After Oil Spill

RBO: How badly did the spill effect the 2010 tourist season?

WB (William Bruce): The spill cut the number of summer visitors to the area by 40 percent according to the visitors bureaus in the area. The effect on the tourist related businesses was particularly dramatic when you realize that most of their yearly income is made during the summer. So a lot of businesses saw a 60 to 70 percent drop in annual revenue. Continue reading

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BP’s Oil Spill Partner Was Founded in Birmingham, Alabama

Transocean, BP’s oil spill partner, was founded in Birmingham, Alabama. Transocean Ltd., is one of the world’s largest offshore drilling contractors. The company rents floating mobile drill rigs, along with the equipment and personnel for operations, to oil and gas companies. Transocean’s rental rates for the deep water rigs are as high as $650,000 a day! Continue reading

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Transocean Pays Executive Safety Bonuses After Incinerating 11 Workers in Oil Spill Disaster

The Wall Street Journal has made an interesting discovery in an April 1st securities filing from Transocean Ltd. As reported by the Journal, Transocean has paid cash bonuses to executives for their safety performance during 2010. This comes after British Petroleum and Transocean jointly incinerated 11 workers during 2010 in the Gulf oil spill disaster. Continue reading

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Alternative Energy Sources: Free enterprise can cure our oil addition

If anything good comes out of last year’s BP oil spill, it may be that the disaster accelerates the development of alternatives to oil. Continue reading

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BP Spends $93 Million on Oil Spill Advertising

A congressional committee reports this morning that BP spent $93.4 million on advertising from April to the end of July 2010. Very interesting. It seems that maybe the only folks benefiting from the oil spill are the newspapers.
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British Petroleum Facts

British Petroleum is a worldwide energy corporation. It is actually the fourth largest company in the world. The corporation is headquartered in London. In America, the company’s main office is in Houston. The company is listed on the London Stock Exchange. Since the beginning of the Gulf oil spill, BP stock has lost over 40% of its value.
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