Thursday, June 3, 2010

BP (NYSE:BP) Finally Loosens Saw, Resumes Efforts

More drama than BP (NYSE:BP) (LON:BP) wanted emerged again today, as the attempt to cut through the leaking riser pipe was interrupted by the diamond-tipped saw being used to cut the pipe got stuck, delaying the process for several hours.

If and when the cut is successfully made, BP would then place a cap over the pipe in a way that would divert the majority of the escaping oil to a vessel on the surface.

This could be the last realistic chance to plug the oil flow before August, where two relief wells would be completed and would be almost 100 percent certain to relieve the problem.

While I'm sure other efforts may be attempted to placate the media pressure on them, there hasn't been much talk of what may be left to try if this fails.

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