Wednesday, June 16, 2010

BP (NYSE:BP) Puts Second Containment System in Action

The second containment system to collect oil and gas from the Gulf spill has been started to be used by BP (NYSE:BP), which should allow the oil company to collect more oil and give a clearer picture as to how much oil is actually escaping into the Gulf.

Early today the new system started collecting oil and gas and brought it to a vessel waiting on the surface to process it.

Government scientists have been as unable to get an accurate reading as BP has concerning the amount of oil escaping the well, now upwardly adjusting the amount to 35,000 to 60,000 barrels a day, up from their prior figures of 20,000 to 40,000 a day.

Once the new containment system is optimized, it'll capture a lot more oil and as than before, and if they aren't able to handle that amount, it'll tell us whether or not the government numbers are even close to being based in reality.

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