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Originally posted by lasertaglover
reply to post by webpirate
He is saying that he needs permission from BP, the Coast Guard, and the Corp of Engineers.
www.cnn.com...
Originally posted by curioustype
reply to post by SonOfTheLawOfOne
"This is a BRITISH company, why are we letting this happen?"
Speaking as a Brit, I have to agree, that's quite a good question. But do remember the Texas based Halliburton, Swiss company Transocean and USA government/regulatory authorities were also all involved (profiting rather nicely I should think) in this, and I guess all parties will now be squirming like eels to distance themselves from whatever they can here.
On another note, BP is I understand the UKs largest corporation, bigger than our banks even? If it fails due to this, in the current economic climate, I just wonder if it would be the final straw for the UK, then the domino effect would likely ensue, Europe/world markets would, surely, get a hefty double dip recession, and that won't be pretty either.
BP oil leak: Fallen Deepwater Horizon was tapping second largest oil deposit in the world
If there is a single aspect to the dangers of the BP oil leak, it lies in the question CEO Tony Hayward and other BP executives have been avoiding since the first drop of oil went rogue: How much oil is leaking?
The real answer is - more than anyone wants to admit, because the well holds enough oil to make Saudi Arabian drillers jealous.
The oil field the Deepwater Horizon had tapped is said to be the second largest deposit in the world. Viewzone.com reports, “The site covers an estimated 25,000 square miles, extending from the inlands of Alabama, Florida, Louisiana and Texas. “
The oil deposit is so large, it could produce 500,000 barrels of a day for more than a decade.
Part of the reason the well exploded is because the site also contains large deposits of natural gas.
Speculation as to why BP has tried to hide the amount of oil spilling may be two-fold. There are legal issues and lawsuits in the works. The less said by BP now, the better it may play out for them in the future. The other, more alarming aspect, is the event of total wellhead failure before relief wells are completed in August.
Originally posted by bigfatfurrytexan
Originally posted by curioustype
reply to post by SonOfTheLawOfOne
"This is a BRITISH company, why are we letting this happen?"
Speaking as a Brit, I have to agree, that's quite a good question. But do remember the Texas based Halliburton, Swiss company Transocean and USA government/regulatory authorities were also all involved (profiting rather nicely I should think) in this, and I guess all parties will now be squirming like eels to distance themselves from whatever they can here.
On another note, BP is I understand the UKs largest corporation, bigger than our banks even? If it fails due to this, in the current economic climate, I just wonder if it would be the final straw for the UK, then the domino effect would likely ensue, Europe/world markets would, surely, get a hefty double dip recession, and that won't be pretty either.
BP won't fail. Far too diversified of a portfolio in far too many ultra lucrative revenue channels.
They may rebrand and relaunch. But they will not fail.
Originally posted by Digital_Reality
Its sad to hear Gov. Jindal say there is 500 people under a tent waiting to start cleaning and they were told not to. He said "we need a leader". How messed up is this when no one is able to do anything. LET THEM CLEAN UP!