BP oil spill's impact likely to last longer
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Regarding the short-term negative impacts of the oil spill on environment, Fox thinks that one major problem relates to the timing. He said: "The occurrence in spring means that it may impact the reproductive cycle for many species, and birds in particular. The economic impact on those sectors which depend on the environment, such as commercial fishing and recreation, will depend to a great extent on the duration and volume of the leak."
As for the long-term effect, Fox thinks it depends as well on those factors. He said: "The record of far larger incidents over the past decades with similarities can be studied for clues on the long-term impacts. The present event is dwarfed by a far larger spill in 1979, when an exploratory oil well accident released a far greater amount of oil into the Gulf of Mexico over the course of many months. In addition, in 1991 Saddam Hussein ordered his retreating army to pump a far more massive amount of crude oil into the (Persian) Gulf."
Fox considers the oil spill a very serious problem on many levels beyond the obvious immediate environmental and economic impacts.
He further explained: "The issue of energy, one of the most important before this event, is impacted in various ways. The emotional aspects, which are always present, become understandably magnified in the aftermath of such a dramatic event. It may have a political impact on the attempts to develop additional domestic sources of hydrocarbons."
In addition, Fox believes that the impact on the regulatory process may prove substantial, with a likely review of the entire regulatory process. "Not the least of its impacts will be on the court system as an untold number of legal claims of all types will move forward," he noted.
Commenting on the actions taken so far, Fox said: "As is the case in the aftermath of virtually every catastrophic incident, the response to the emergency will be second guessed." One area that Fox thinks will receive inquiry is the pace of response by both the government and the company.
"It seems likely that there will be prolonged attention given to the roles of both the corporate and government actors in the crisis," he said.
Talking about the lessons that China can learn from this incident, Fox said: "I believe that China can learn many helpful lessons from observing the experiences of other nations in the exploitation of offshore energy resources."
"China has the opportunity to consider the methods and techniques which it will permit to be used with the goal of minimizing to the extent possible events similar to the ongoing disaster. China would be wise to balance the very substantial benefits of offshore energy development with the corresponding risks to the environmental, marine, agricultural, leisure and other interests in the coastal region," he added.
Fox held various executive positions during his corporate career, including at one point having overall responsibility for environmental compliance of a multinational business.
On April 20, the explosion and sinking of a BP Plc oil rig and subsequent massive oil spill has claimed 11 lives and contaminated waters at the Gulf of Mexico with millions of gallons of oil. It has been nearly three weeks since the explosion and every day 5, 000 barrels of oil is still leaking into the gulf. Currently the oil has reached the shores of Louisiana, impacting the livelihoods of millions in the Gulf Coast states and threatening more.
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