May 17, 2010 The latest news on the Gulf Oil spill has BP Oil claiming to have stemmed some of the oil coming from the broken pipe but as they reported there are 3 holes in the pipe not just one. The story they report seems to change every day as was first reported there were three holes in the exploded pipe.
Yesterday BP Oil lowered a pipe with a tube that they would insert into the well where it is ruptured or blown out in an attempt to stop the flow of oil leaking in the Gulf of Mexico. BP did not disclose how much oil is being stopped, what the flow rate is or how much oil was downplayed in previous reports. News from the BBC indates that only 75 percent of the oil can be captured in this method.
After all they have not been truthful from the beginning of this explosion on April 20, 2010 when they reported only 5,000 barrels a day was leaking into the ocean waters.
Now that the oil is coming on shore and one larger mass has been discovered beneath the surface people are starting to realize this is not a small disaster but one that carries consequences well into the next several generations.
Scientists Discover Oil Plume in Gulf of Mexico- More Bad News
As much as everyone is looking for a little good news about this explosion again scientists are underestimating the amount of oil in the spillage from the well. Today also with the same unclear information ther eis a report of the finding large plumes of oil running one mile wide and 10 miles long which is a disaster.
Three states on the Gulf coastline Alabama, Mississippi and Lousiana have all had oil wash up on their shores of white sandy beaches. The next two states that will be affected by the massive movement of oil will be Florida and Texas as this oil is carried by the ocean currents.
BP Is Self Insured
There is no release of information on BP’s insurance coverage for this multi-national conglomerate whether they are insured with Lloyds or are self insured there are conflicting reports. How BP will pay for this disaster is questionable as they will have to repay the US government for their services in helping to clean up BP’s mess. In addition with the reputation of this company you can expect them to tie this up in the courts for years and years. Exxon tied up their spill for 20 years as the courts wittled down the settlement amounts to barely a few days profits. So far BP has lost 7 days of profits – a drop in the barrel.
The definition of “legitmate claims” is also a mystery in tehri repeated definitions of what they will and will not pay for, one of the main costs is for the future economy of American Fisherman, American Tourism, and the long term effects of having 5 million or more barrels of oil floating around the Gulf for the rest of time.
These are inmeasurable costs that must be weighed if any further offshore drilling is allowed and at these depths this is manical thinking that there would not be further accidents or explosions however the US economy and environment will not be able to withstand the damages.
TAGS: Latest News on Gulf Oil Spill, BP Oil Spills into the Gulf of mexico, Gulf oil damage.
More news from Gulf Live on archaeological site damage from oil spill.