OFFSHORE OIL DRILLING AND THE GULF
U.S., Mexico work to raise bar in Gulf
Transocean execs to donate bonuses
"In a potential saving-grace move for the company, Transocean CEO Steven Newman and other senior officials are giving away more than $250,000 in bonuses granted for the company's safety performance in 2010 despite being the operator of the Deepwater Horizon rig, which exploded April 20, killing 11 workers."
BP asks fine not be based on total of spill
"BP said in the court filings it was not willfully negligent and that federal officials should use a different method for assessing fines under the Clean Water Act — levying a fixed fine for every day the well flowed. That fine is $32,500 per day.
Using the daily figure fines could run from $2.8 million to $4.9 million, depending on whether one uses the date the well was capped or permanently sealed. The per-barrel figure could lead to fines ranging from $4.1 billion to more than $20 billion."
VIRGINIA
US Rep. Bob Goodlatte's legislation seeks to open Virginia's coast to gas and oil exploration
"The proposal by Goodlatte would require the Department of the Interior to move ahead with a Virginia lease sale no later than one year after its passage."
NEW ZEALAND
Disaster Waiting to Happen in NZ?
"They said prospecting licences were being granted for New Zealand's continental shelf with little environmental scrutiny, with wells likely to be at depths greater than the exploding BP Macondo well in the Gulf of Mexico."
ENERGY POLICY
Republicans propose energy program cuts in 2012 budget outline
"Ryan, who heads the House Budget Committee, did say Republicans plan to encourage more domestic oil and gas production and less spending on some energy research."
ALTERNATIVES TO OIL
The Surprisingly Long History of Green Energy (TIME Magazine)
"Madrigal suggests a policy of countercyclical investment by the government, ensuring that there is public research money and subsidies available for green energy during those fallow periods when the private markets go missing."
