Thursday, July 1, 2010

where is all the money

35,000 barrels per day
$1,100 fine per barrel capped at $75M or
$4,300 per barrel in civil damages uncapped
$38,500,000 available for clean up every day using $1,100 figure

Say,

60% or $23,100,000 per day for administration and
40% or $15,400,000 per day for actually doing the work.

And, say you need two ocean going ships per boom with crew.

Tugs. Two 2nd hand ocean going tugs cost about $1,200,000. Fully paid off over one year, zero interest, is $3,285 per day. Round it up to $10,000 per day for repayments, insurance, equipment, fuel and repairs.

Crew. Four expert crew per vessel, eight in total, $8,000 per day. Five labourers per vessel, ten in total, $2,500 per day. $10,500 per working day for crew.

That is, $20,500 cost per working pair.
Therefore, $15,400,00 (i.e. only 40%) funds 751 crewed tug pairs per day.

If each working pair collected only 47 barrels per day,
that would be all 35,000 barrels per day collected.

With $23,100,000 remaining each day for administration
(consultants, planes, reefers, training, etc).

Keep in mind there are a lot of Illegal, Unregistered, Unlicensed (IUU) fishermen / poachers out there that would do this for a lot less.

Save the Patagonian toothfish and clean the oil spill.

Sources:
http://www.reuters.com
http://www.rightboat.com
http://www.xe.com
http://en.wikipedia.org
http://www.nationsonline.org

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