Government scientists have been far worse than BP (NYSE:BP) at estimates for the amount of oil flowing into the Gulf of Mexico, as they have now upwardly revised their projections from 20,000 to 40,000 a day to 35,000 to 60,000 barrels a day.
This of course shows there's no way to measure the amount of oil spilling into the Gulf, and until BP has containment in place to the point of capturing most the oil, which then can be measured accurately on a daily basis, we won't know.
The government scientists are going to push out the amount of oil being spilled on behalf of the Obama administration in order to secure the most money they can for cleanup costs and other liabilities, but how can they be off by as much as 40,000 barrels a day, when considering the low end and high end of their estimates?
How does it go from 20,000 a day to as high as 60,000 a day in a couple of days?
They're just covering their rear-ends because of the mocking BP went through in their original estimates. Now government scientists are extending projections so far as to ensure they're going to land somewhere within those estimates in order to attempt to look good.
But their inability to give a legitimate estimate already confirms no one is able to measure the amount of oil being released into the Gulf region, so throwing out numbers in what looks like a haphazard way does nobody any good, and only confirms their inability to do it.
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