BP Will Screw Gulf Coast Like Exxon Screwed Alaska

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Lessons from the Exxon Valdez spill

That nightmare is reoccurring now with BP’s deadly rig blowout off the Gulf Coast – with haunting parallels to the Exxon Valdez.

I was not at all surprised when officials reported zero spillage, then projected modest spillage, and then reported spill amounts five times higher than their earlier estimates.

As the spill continues, I imagine that even the newly reported amounts will continue to vastly underestimate the actual spillage.

Still, penalties are based on spill volume: Exxon likely saved itself several billion dollars by sticking with its low-end estimate of 11 million gallons and scuttling its high-end estimate of 38 million gallons, later validated by independent surveyors.

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