. ENVIRONMENT: POLLUTION : WATER POLLUTION : OIL SPILLS : INDUSTRIES: PETROLEUM: 'Spillionaires' Cleaning Up On the BP Oil Spill 'Spillionaires' Cleaning Up On the BP Oil SpillLike Exxon Valdez disaster, BP's calamity in the Gulf of Mexico Has Meant Business Opportunities
By RAY SANCHEZJuly 30, 2010 ABC News
<http://abcnews.go.com/Business/ spillionaires-cleaning-bp-oil-spill/story?id=11280500> A shorter URL for the above link: <http://tinyurl.com/25rzrgb>Mark Miller, whose environmental clean-up firm has hired nearly 1,500 workers in the Gulf Coast in the past month, takes issue with the term "spillionaire" -- those who are cleaning up from the oil cleanup.
<snip>Like the 1989 Exxon Valdez disaster in Alaska, British Petroleum's calamity in the Gulf of Mexico has turned into a lucrative business opportunity for many locals and outsiders. Exxon spent nearly $4.3 billion in cleanup and legal costs after that disaster, the most expensive at the time. Experts have estimated that BP will spend more than $20 billion on the cleanup alone, and that will mean a new generation of "spillionaires."
Gunnar Knapp, professor of economics at the University of Alaska in Anchorage, said the Exxon spill benefitted the financially-strapped state in hard economic terms, spawning a local oil-spill-cleanup industry. These oil cleanup entrepreneurs undoubtedly contributed to the state's 21 straight years of economic growth.
<snip>In May, Miller set up shop in a vacant Kia auto dealership in Mississippi. His firm initially responded with about two dozen people and a small fleet of vessels that sucked up oil in shallow waters. Soon he was supplying crews in Mississippi and Florida to clean up beaches and marshes. In the last month, he hired nearly 1,500 workers.
"There were people available who had skill sets that are very applicable to oil spills: boat operations, mechanically inclined people, folks who had local knowledge of the waters," he said. "By June, the demand came to basically double the resources. That's when we went full out looking to the local labor pool. We started screening people and set up a whole HR department to conduct interviews and background checks."
Miller would not reveal the value of the cleanup contracts his firm has received but said the extra work came after a decline in business in 2009. He believes the BP spill will transform the oil cleanup industry.
"There are a number of companies that are going to be flush with cash and I believe they're going to reinvest in capital equipment," he said. "I think they'll be expansions of offices and you're see companies that have not had the opportunity to participate in the spill becoming ripe for acquisition by the companies that have been involved. We are already looking at some opportunities for acquisitions."
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