• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

Clean-Up Taxes and Kevin Costner

Today, Kate Sheppard reports at Mother Jones, Kevin Costner — actor of Dances with Wolves fame, favored heartthrob of my mum — took to the Hill to argue for additional funding for oil spill clean-up technologies. For the past 15 years, Costner has invested in a company that produces a machine that separates oil from water, now in use in the Gulf. Sheppard describes:

The contraption is best described as a portable, vacuum-like metal unit that spins the oil out of the water. They have five different models, the largest of which can separate 210,000 gallons of water and oil per day. The company says it leaves the water 99 percent clean. BP has run several tests on the technology since the leak began, and approved it for use last month. Since then, BP has placed an order for 32 machines, the company reports, and ten machines are already out working in the Gulf. Ocean Therapy Solutions CEO John W. Houghtaling said he believes that when all these are in use, they will be able to clean 6 million gallons of water per day. (It’s not clear how much of a dent this could put in the spill, the total volume of which has not been determined. And since much of the oil has been dispersed into the Gulf using chemicals, it may be harder to do much with Costner’s contraption). The company envisions hundreds of these mobile units deployed around the world, ready for the next spill wherever it may occur.

Costner noted that both the government and BP were utterly unprepared to deal with the massive oil spill, and that much more money needs to go into clean-up technologies. As I wrote a few weeks ago, taxing or regulating oil companies to divert much more funds into clean-up technology seems like one good solution:

New laws are coming. One option would be to address the negative externality of cleanup costs: taxing all oil companies and processors in the United States, and forcing them to use the funds to explore new technologies to be used in the event of a disaster. For even if BP had managed to prevent the Deepwater Horizon incident, another catastrophic oil spill would have happened somewhere else, sometime soon. The technologies used to contain and clean up oil remain rudimentary and highly ineffective, particularly those used at sea — top kill, bags of hair, faulty seals. (Of all the well shut-down methods I have seen, it is distressing that the Russians’ controlled nuclear explosion has seemed most promising.) The next conflagration will take light at some point. It would be useful to force the companies at fault to invent the fire hydrant before then.

How to structure the tax? I leave it to the public policy experts to figure that out. But I would imagine either requiring oil companies’ U.S. subsidiaries to spend one or two percent of profits on cleanup and prevention research, then allowing them to license or sell their products to one another; or taxing the oil companies’ U.S. subsidiaries, putting the funds into a pool and having the government disburse the money to vetted research organizations.

Discussion & Comments (0)

    Recent Articles

    • Things You Should Know about North America

      Things You Should Know about North America

      Get to know more about North America.

    • Eurovision 2010 Paula Seling Unpredictable Contest

      Eurovision 2010 Paula Seling Unpredictable Contest

      Paula Seling's experience on the Eurovision stage led her to declare that "Eurovision is an unpredictable contest". Which may explain the success of the young Lena from Germany, about whom the predictions before the event did not offer much chances for victory.

    • VIPRow.me - The Best Sports Streaming Website Today

      VIPRow.me - The Best Sports Streaming Website Today

      Have you ever contemplated creating a user-friendly site dedicated to sports-related free live streaming channels?

    • Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      XNXUBD 2022 Nvidia users are able to watch thousands of videos and other contents online. XNXUBD 2022 Nvidia New is a piece of software that enables people to watch videos online without having to pay for memberships. On a graphics card, the XNXubd also provides some of the best gaming and virtual reality experiences.

    • Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      A new edition of the Video Editor Apk for xVideostudio.Video Studio has all the latest features, including support for multiple video download formats in HD, FHD, and even 4K resolutions.

    • 9 Best Lotion For Masturbation - Popular Choice For 2022

      9 Best Lotion For Masturbation - Popular Choice For 2022

      Masturbation is a common activity for men and women. It's a natural and risk-free way to explore your body, experience pleasure, and release sexual tension.

    • Reasons Why You Need To Stop Watching Movies From Sflix

      Reasons Why You Need To Stop Watching Movies From Sflix

      Without having to sign up or pay anything, you can watch movies online for free with SFlix. It has more than 10,000 movies and television shows.

    • Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Collins (born May 11, 1997) is a rapper from the United States. Leray started publishing songs to SoundCloud in 2014, and in 2018 she released her breakthrough track "Huddy" as well as her first mixtape, Everythingcoz.

    • Listen And Download Music On MyFreeMP3 For Free

      Listen And Download Music On MyFreeMP3 For Free

      Are you in a bind and looking for a place to obtain free mp3 songs? Never again will you need to bother, since this article has everything necessary to obtain your solution. Download free music from MyfreeMP3.com, one of the world's most popular websites.