BP has pushed forward with exploration within the Gulf of Mexico when other firms backed off. It’s, as nicely, BP’s job in the Gulf, as principal lessee of the deepwater oil concession.
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Interviews with rig employees conducted as a part of BP’s inner investigation into the explosion point out that a methane gas bubble escaped from the nicely and expanded rapidly because it shot up the drill column, a sequence of events that included the failure of the blowout preventer and explosion of the rig.
In an unique for , the Wayne Madsen Report (WMR) has discovered from Federal Emergency Management Agency (FEMA) and U.S. Military Corps of Engineers sources that U.S. Navy submarines deployed to the Gulf of Mexico and Atlantic Ocean off the Florida coast have detected what amounts to a frozen oil blob from the oil geyser at the destroyed Deep Horizon off-shore oil rig south of Louisiana.
Plans by BP to sink a four-story containment dome over the oil gushing from a gaping chasm one kilometer beneath the surface of the Gulf, the place the oil rig Deepwater Horizon exploded and killed eleven staff on April 20, and reports that one of many leaks has been contained is pure public relations disinformation designed to keep away from panic and calls for for better motion by the Obama administration, in keeping with FEMA and Corps of Engineers sources.
The White House’s solely concern is making an attempt to limit political harm to its image within the electorally-vital state of Florida while the Pentagon has spent between $25 and $30 billion on oil spill operations in the Gulf and the Atlantic to date.
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They add that if the ocean oil geyser is not stopped inside 90 days, there can be irreversible injury to the marine eco-methods of the Gulf of Mexico, north Atlantic Ocean, and past. Salazar’s claim that this would remove conflicts of interest†in government regulation was nervy, to say the least, coming from a person with lengthy-standing and intimate ties with oil and mining considerations, including BP.
conclusion
My colleague John Mousseau will be discussing the impact on state and native government debt (-kotok-one hundred twenty five-billion-is-just-the-begin-of-the-oil-cleanup-prices-and-a-double-dip-is-now-approach-more-doubtless-2010-5#) in a separate research commentary.