How much is that spill?

Dick Taffe — Wed, 16 Jun 2010 17:36:34 +0000

The BP oil spill now has released at least 1.3 million barrels of oil into the Gulf of Mexico since the Deepwater Horizon oil rig explosion on June 15th. What’s that equivalent to? Professor Cutler Cleveland, director of the BU Center for Energy and Environmental Studies and editor of Encyclopedia of Earth” suggests some possibilities in his blog, “The Energy Watch.”

Years of energy used in a single average America home: 81,286

Number of miles that could be driven by a Prius: 3,085,600,000

Number of airplane round trips between London and Louisiana that could be taken by BP CEO Tony Hayward: 263,808

Hours of motor gasoline consumption for the entire United States: 3.9

Minutes of world energy use: 8

Contact Cutler Cleveland, 617-353-3083, cutler@bu.edu

BP faces Congress

Dick Taffe — Tue, 15 Jun 2010 16:16:56 +0000

It’s all BP all the time in Washington this week. After President Obama addresses the nation Wednesday on the BP oil spill situation, company executives on Thursday face a Congressional hearing on the matter. Visiting law Professor Elizabeth Nowicki, both a former SEC and Wall Street attorney, says BP CEO Tony Hayward would be well-served to remember what empirical research shows about the economic value of apologies.

“My advice to Hayward is to remember what behavioral research has shown: Corporations with senior management who willing and sincerely apologize are (a) less likely to get sued and (b) more likely to settle inevitable lawsuits more cheaply.”

Meantime, political science Prof. Graham Wilson, author of “Business and Politics,” wonders when other companies involved in the Deepwater Horizon disaster and its aftermath will be put in the spotlight that thus far has swamped BP.

“It will be interesting to see if the American companies involved, such as Transocean and Haliburton, are also asked to set aside funds [for clean-up]. Only eight of the people on the rig when the well failed were employed by BP.”

Contact Elizabeth Nowicki, 518-867-5355, enowicki@bu.edu; or Graham Wilson, 617-353-2540, gkwilson@bu.edu

BU Now » BP oil spill

How much is that spill?

BP faces Congress