about 65 km west of Edmonton 99
Alberta oil spill cleanup may top
The company that owns a pipeline that spilled 4.5 million litres of Lacoste Shirts Cheap crude oil in northern Alberta last month posted a $181 million net profit in the first quarter of 2011.
Plains All American (PAA) released its first quarter profits just days after the huge spill was reported 100 km northeast of Peace River.
"We ended the first quarter with a strong balance sheet, solid credit metrics and approximately $2.2 billion of committed liquidity," said PAA CEO Greg L. Armstrong in a public release.
Plains Midstrea Canada (PMC), a subsidiary of PAA, says it's estimated the clean up of the Rainbow pipeline break has cost roughly $11 million to date, and could reach as high as $40 million.
"We have substantial insurance to cover this, way more insurance than (what's) required," says Dave Craig, CFO for PMC.
Craig says PCM has lost roughly $165,000 a day in profits since the pipe broke on April 29. That's about $2.5 Polo Ralph Lauren T Shirts Australia million in total.
The Energy Resources Conservation Board (ERCB) says PMC will cover "100%" of the clean up costs. A third party cleaning crew is on site, and it's unknown how long the process will take.
While the clean up is ongoing, residents of Little Buffalo, the Cheap Polo Ralph Lauren Lubicon Lake Nation town about 30 km west of the spill site, welcome the news of PAA's multi million dollar first quarter revenue.
"I'm glad they made a lot of money because they can afford to clean the mess that occurred over here," says Lubicon Coun. Alphonse Ominayak. "It's going to cost a lot of money because at the time Fred Perry Online being, there's at least 300 men over there at the spill and a number of equipment."
Clean up crews are split into two nine hour shift. Plans to start 24 hour clean up are underway. However, there is a 24 hour wildlife patrol set in place. To date, seven beavers, 19 ducks, six migratory birds and two frogs have been killed or euthanized.
Despite the million dollar hit to PMC's Polo Ralph Lauren Australia Online Store pocketbook, the cost of clean up pales in comparison to the 2005 Wabamun spill.
More than Polo Ralph Lauren Usa 800,000 litres of oil and chemicals spilled near Wabamun Lake, about 65 km west of Edmonton, after a CN train derailed. That cleanup cost the company and insurers upwards of $132 million. CN also paid $1.4 million in fines to the provincial and federal government.
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