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News, opinions, photos and facts from Ocean Conservancy

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BP: Return on Investment Includes Cost of Business

Posted On January 26, 2015 by

Every day we monitor the health of our economy through indicators such as the Dow Jones Industrial Average, NASDAQ or S&P 500. We are able to understand the trends in our economy through the long-term values of these indicators. Decisions are made each day based on these trends and affect every aspect of our lives. Very few business leaders would dare conduct business without analyzing these indices.

The ocean is an important driver of our economy and a major player in our ability to thrive. It provides the oxygen we breathe. It controls the weather systems that produce our food and the marine systems that sustain much of the biological wealth of this planet. The health of the ocean is immensely important, yet we conduct business every day without knowing the changes or trends in the ocean’s health.

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BP Back in Court

Posted On January 20, 2015 by

BP once again must appear in court today as the final phase of the BP trial begins in New Orleans. This is the third phase of a multiyear trial to determine how much BP and other responsible parties should pay for their role in the BP Deepwater Horizon oil disaster in the Gulf of Mexico. Just last Thursday, the Judge issued another ruling, finding that 3.19 million barrels of oil were released into the Gulf. This means that the maximum fine BP will face is $13.7 billion. This final phase of the trial will focus on eight factors, as required by the Clean Water Act, including BP’s history of prior violations and the seriousness of this violation.

A key factor in court will be BP’s efforts to minimize the harm. In other words, did BP do enough in responding to the disaster to justify lowering their fine? Yes, BP took efforts to stop the flow from the well and the spread of oil, but BP also lied about the rate at which oil was spewing from the well.

The economic impact of the penalty on BP will be interesting to watch as well. The court will need to determine whether this inquiry focuses on BP (the parent company) as a whole or only on its subsidiary, BP Exploration & Production, known as BPXP. BP is expected to argue that the recent dip in oil prices should be factored into this inquiry. (This assertion, as you might expect, has been met with criticism.)

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Time to Get to Work on Restoration

Posted On December 4, 2014 by

Photo: Rob Peterson

There’s a right way and a wrong way to spend millions of dollars restoring the Gulf of Mexico. The Gulf Coast Ecosystem Restoration Council, a federal and state entity responsible for spending a portion of the RESTORE Act dollars, is doing it right by releasing all of the candidate projects to the public far before any decisions are made.

A total of 50 project proposals for comprehensively restoring the Gulf in the wake of the BP Deepwater Horizon oil disaster were made publically available this week, and the line-up includes some great concepts for restoring watersheds, deep-water corals, acquiring new lands for conservation and promoting living shoreline habitat.

The Council will choose some combination of the 50 submitted projects in a package, called a Funded Priority List, to address habitat and water quality in a big way. Approximately $150 to $180 million is available for this funding opportunity, and the challenges for the Council will be where to focus the Funded Priority List and how to combine projects to achieve the goal of comprehensive, ecosystem-wide restoration.

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Gulf Leaders Hit the Mark on Restoring the Gulf Beyond the Shore

Posted On November 17, 2014 by

Photo: NOAA

Here at Ocean Conservancy, we blog about many issues—some are calls to action, some are educational, but this one is a call to celebrate! Today, the National Fish and Wildlife Foundation (NFWF) announced more than $99.2 million for 25 restoration projects across the Gulf of Mexico.

The best part of this news is that Mississippi, Alabama and Florida have chosen to invest in projects that will restore the Gulf beyond the shore. These projects will provide much-needed funding to:

As detailed in Ocean Conservancy’s booklet Restoring the Gulf Beyond the Shore, we are a major champion for projects that restore the offshore species in the Gulf, as well as the underwater habitats that they call home.

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Restoration Report Card: Gulf Council Fails at Public Participation

Posted On August 21, 2014 by

Today the Gulf Coast Ecosystem Restoration Council made some big announcements and provided more information on how they will choose projects to restore the Gulf. We’ve graded the Council’s efforts today, and the results are a mixed bag.

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High Five to the RESTORE Council!

Posted On July 25, 2014 by

In order to successfully restore the Gulf of Mexico from the BP Deepwater Horizon oil disaster, Ocean Conservancy, as you may recall, has a tried-and-true Recipe for Restoration:

1 part science

1 part public engagement

1 part clear criteria for decision-making

We are so pleased today to see that the RESTORE Council is following our recipe for success. As the federal and state partnership charged with determining how billion of dollars in Clean Water Act fines will be spent, the RESTORE Council announced their plans today for receiving and evaluating proposals for Gulf restoration projects. This long-awaited announcement has been years in the making, and Ocean Conservancy has been one of the strongest supporters for a science-based platform for successful Gulf restoration. Thanks to the actions taken by the Council today, projects to restore the Gulf will be chosen based on merit, not on politics.
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Fishermen and Scientists Work Together to Track Sick Fish

Posted On July 21, 2014 by

University of South Florida Professor Steven Murawski began studying diseases in fin fishes after the 2010 Deepwater Horizon oil spill when Gulf of Mexico fishermen began reporting a surge in fish with visible lesions. Credit: C-Image. Caption from phys.org

Fishermen are on the water every day, which means they are often the first to notice when something changes. After the BP Deepwater Horizon oil disaster, we heard reports from fishermen that they were catching more fish with lesions than they had ever seen before. Immediately after hearing these reports, Dr. Jim Cowan at LSU began investigating the frequency, location and cause of the reported lesions. Many other scientists have collected data on this same issue, and last week a group from the University of South Florida published the first round of results in a scientific journal.

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