As soon as the Deepwater Horizon oil drilling rig exploded on April 20 in the Gulf of Mexico, the portfolio managers at Metropole Gestion sitting thousands of miles away dumped the shares of BP they owned in their various funds.
Regulatory reforms and policy changes are urgently needed to prevent drilling disasters, ensure oil-rig safety in the Gulf and elsewhere and guarantee rapid response and cleanup when accidents happen.
During the spill, half of the oil and most of the gas from the drilling rig never made it to the surface.
She paused to tell stories about the trail and the area, pointing out an old rig that tried drilling for oil in the 1970s and describing the way the native plants have developed.
Trying to stop the flow of an oil gusher 5000 feet below the surface in extremely cold water is a complex engineering challenge as was the original exploration, drilling, and construction of the oil rig in the first place.
There was in fact a discharge from a drilling rig in March, but the oil people say it consisted of mud containing no substances that would affect the environment.
The gliders will be used for seismic monitoring, measuring currents for rig building, and detecting oil seepage from drilling.
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Other than natural gas, Chesapeake also operates in oil production, oil and natural gas marketing, natural gas compression, rig drilling and trucking, which form the rest 25% of the stock price.
The Deepwater Horizon rig, which started the Gulf oil disaster, was drilling in 5, 000 feet of water.
The moratorium was imposed by President Obama on May 27 after the April 20 explosion aboard the Deepwater Horizon drilling rig off the coast of Louisiana triggered an underwater oil gusher.
The explosion in April of that year of a drilling rig in the Gulf of Mexico triggered the largest offshore oil spill in the country's history.
The Deepwater Horizon Oil Spill began in the Gulf of Mexico on April 20th with a drilling rig explosion that killed eleven platform workers and injured seventeen others.
The London-based company has lost more than a third of its stock-market value since April 20, when one of its gulf wells blew out, destroying the Deepwater Horizon drilling rig, killing 11 men and triggering the worst offshore oil spill in U.S. history.
One danger is that, as the oil slowly oozes out, it might leak into the ground water before a drilling rig can pump it out.
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In 1979, the worlds's worst oil spillage occurred as a result of a marine blow-out beneath the drilling rig Ixtoc 1 in the Gulf of Mexico.
But five weeks after the Deepwater Horizon drilling rig sank, it seems possible that the rate at which oil is going into the ocean, if not the rate at which it is coming out, might be coming under control.
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According to the rolling oil rig count by industry services giant Baker Hughes, the oil and gas industry is drilling as much under the first two years of President Barack Obama as it did under the first two years of George W. Bush.
In California, an offshore drilling rig stained the coast of Santa Barbara with more than 3 million gallons of crude oil.
The blowout on that drilling rig killed 11 and led to the spilling of more than 4 million barrels of oil into the Gulf.
John McCain touts offshore drilling as a solution to producing more oil, and recently held a press conference on an oil rig in the Gulf of Mexico to make his point.
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