Looks like some signs of learning from experience. Oil Majors Building Disaster-Response System, NYTimes July 21.
Exxon Mobil Corp., Chevron Corp., Royal Dutch Shell PLC and ConocoPhillips are expected to announce Thursday that they are forming a joint venture to design, build and operate a rapid-response system to capture and contain up to 100,000 barrels of oil flowing 10,000 feet below the surface of the sea.
The system, consisting of several oil collection ships and an array of subsurface containment equipment, resembles the one developed by BP during three months of trial and error after the Deepwater Horizon exploded April 20.
Some additional details from an NBC news article today. No question, $1B is a lot of money.
Additional concerns about the environmental and ecological outcomes. See Spill May Harbor Unique Hazards , Wall St. Journal, June 11.
“This is a three-dimensional spill,” said Columbia University oceanographer…”The physics, the chemistry and the biology action are very different when you have oil released from below.”
In the NYTimes today: BP’s Mess, and Wall Street’s
The Gulf of Mexico spill, like the financial implosion, was largely the product of people taking risks and knowing they wouldn’t be held accountable if things went wrong.