Tuesday, June 1, 2010

When The Risk Outweighs the Reward

Based on most estimates, the BP well is spewing into the Gulf of Mexico about 12,000 to 19,000 barrels of oil a day, roughly 504,000 or 798,000 gallons every 24 hours. If the leak continues unabated until August, as many experts expect, the total amount of oil leaked will end up somewhere between 1.08 million and 1.7 million total barrels, roughly 45 million to 71 million gallons. That's a hell of a lot of oil. Enough oil, for instance, to threaten the Gulf Coast's fragile ecosystem, while simultaneously kneecapping the region's economy. Not enough oil, though, to meet or exceed even 8.5 percent of our daily consumption of oil, which stands, with or without the Deepwater Horizon explosion, at a shocking 21 million barrels a day.

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