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Blowout. (book) Blowout: Corrupted Democracy, Rogue State Russia, and the Richest, Most Destructive Industry on Earth is a 2019 non-fiction book by Rachel Maddow. It is her second book and was published by Crown on October 1, 2019. It concerns corruption in the oil and gas industry and the Russian interference in the 2016 United States elections.
The U.S. Travel Association estimated that the economic impact of the deepwater horizon oil spill on tourism across the Gulf Coast over a three-year period could exceed approximately $23 billion, in a region that supports over 400,000 travel industry jobs generating $34 billion in revenue annually. [54] [55] A 2013 study in the Journal of ...
Blowout (well drilling) The Lucas Gusher at Spindletop, Texas (1901) A blowout is the uncontrolled release of crude oil and/or natural gas from an oil well or gas well after pressure control systems have failed. [1] Modern wells have blowout preventers intended to prevent such an occurrence. An accidental spark during a blowout can lead to a ...
Auction theory is an branch of applied economics that deals with how bidders act in auctions and researches how the features of auctions incentivise predictable outcomes. Auction theory is a tool used to inform the design of real-world auctions. Sellers use auction theory to raise higher revenues while allowing buyers to procure at a lower cost.
The Deepwater Horizon oil spill (also referred to as the "BP oil spill") was an environmental disaster which began on 20 April 2010, off the coast of the United States in the Gulf of Mexico on the BP-operated Macondo Prospect, considered the largest marine oil spill in the history of the petroleum industry and estimated to be 8 to 31 percent larger in volume than the previous largest, the ...
The economics term cost, also known as economic cost or opportunity cost, refers to the potential gain that is lost by foregoing one opportunity in order to take advantage of another. The lost potential gain is the cost of the opportunity that is accepted. Sometimes this cost is explicit: for example, if a firm pays $100 for a machine, its cost ...
In economics, market clearing is the process by which, in an economic market, the supply of whatever is traded is equated to the demand so that there is no excess supply or demand, ensuring that there is neither a surplus nor a shortage. The new classical economics assumes that in any given market, assuming that all buyers and sellers have ...
Workover. A workover rig. The term workover is used to refer to any kind of oil well intervention involving invasive techniques, such as wireline, coiled tubing or snubbing. More specifically, a workover refers to the expensive process of pulling and replacing completion or production hardware in order to extend the life of the well. [1]