offshore drilling
Newsletter
Credit: U.S. Coast Guard/EPI2oh/Flickr
Oil companies pursue offshore drilling, touting lower emissions
Offshore drilling companies like Shell are increasing deepwater oil and gas extraction in the Gulf of Mexico, claiming it is a cleaner alternative than onshore operations due to reduced greenhouse gas emissions.
In short:
- Oil companies argue that deepwater drilling is crucial for global energy needs and has a lower carbon footprint than onshore drilling.
- The Gulf of Mexico has experienced rising oil production, reversing the decline after the 2010 Deepwater Horizon spill.
- Environmentalists are concerned about the industry's pivot back to fossil fuels, urging a faster shift to renewable energy.
Key quote:
“We’re not talking about stopping oil production today. But no matter how you look at it, there’s a really dire need to accelerate this shift to clean energy.”
— Brettny Hardy, a senior lawyer in the Oceans Program at Earthjustice
Why this matters:
As critical planetary tipping points loom large, a continued focus on fossil fuel extraction threatens progress toward climate goals. Read more: We don’t have time for another fossil fuel bridge.
Keep reading...Show less
Newsletter
Credit: Maria Lupan/Unsplash
Interior implements new regulations on offshore drilling insurance
The Biden administration has introduced new regulations to increase insurance bonds for offshore drilling cleanup, targeting companies deemed financial risks by the Bureau of Ocean Energy Management.
In short:
- The new rule mandates supplemental insurance for costs related to decommissioning offshore oil and gas infrastructure.
- It aims to protect taxpayers from bearing the financial burden if oil companies default on their cleanup responsibilities.
- Estimates suggest the rule could generate $6.9 billion in new insurance bonds to cover potential bankruptcies of offshore operators.
Key quote:
"The American taxpayer should not be held responsible when oil and gas companies are unable to clean up after their own operations."
— Deb Haaland, Interior Secretary
Why this matters:
Offshore drilling carries inherent environmental risks, including oil spills and habitat destruction. In the past, the burden of cleaning up oil spills has often fallen on taxpayers when drilling companies lack the financial resources to cover the full extent of the damage. Increasing insurance bonds seeks to rectify this by shifting more of the financial responsibility back to the companies conducting the drilling operations.
The Gulf of Mexico is littered with tens of thousands of abandoned oil and gas wells, and toothless regulation leaves climate warming gas emissions unchecked.
Keep reading...Show less
Photo by Maël BALLAND on Unsplash
Louisiana's Gulf Coast faces major oil spill near offshore pipeline
A significant oil spill in the Gulf of Mexico, linked to a pipeline near the Louisiana coast, is raising serious environmental concerns.
In short:
- Over a million gallons of oil has leaked into the Gulf of Mexico.
- Impact on endangered species and local ecosystems is a major concern.
- Source of the leak is still unidentified; cleanup efforts are underway.
Key quote:
"There are endangered and threatened species in Louisiana waters....Even if this doesn't make it ashore, it doesn't mean that this is an incident that we can just ignore.
— Doug Helton, NOAA Emergency Operations Coordinator
Why this matters:
This spill threatens critical marine habitats and endangered species, highlighting the environmental risks associated with offshore oil operations. Yet despite the threats to marine life and the fossil fuel industry's enormous contributions to climate change, global spending on new offshore oil projects is forecasted to grow rapidly in the next two years.
On the 12th anniversary of the Deepwater Horizon oil spill, EHN columnist Peter Dykstra reflected on the tendency to forsake climate and energy concerns for short-term political gains.
Will the current transition to renewable energy address interrupt that cycle?
AI-based tools helped produce this text, with human oversight and editing.
Keep reading...Show less
Photo by Zachary Theodore on Unsplash
UK regulator trying to block release of Shell North Sea documents
Exclusive: North Sea Transition Authority under fire for using lawyers to argue against publication of environmental impact.
The oil-soaked bird photo that shocked the world
On 20 April 2010, the oil rig Deepwater Horizon exploded. A photograph of an oil-soaked pelican came to epitomise the environmental disaster and helped galvanise the clean-up.
Photo by Zachary Theodore on Unsplash
Biden said he would stop drilling. Then reality hit
The tug of war over one drilling lease in the Gulf of Mexico involving the president, Congress and the courts illustrates the limits of executive power.
Newsletter
Photo by Zachary Theodore on Unsplash
UK go-ahead for North Sea oil and gas field angers environmental groups
Campaigners including Greta Thunberg had called for halt to Rosebank project involving Oslo-listed Equinor.
ORIGINAL REPORTING
MOST POPULAR
CLIMATE
