Saturday, June 5, 2010

Obama Knew BP (NYSE:BP) Oil Spill Damage Potential From the Beginning

According to senior White House aides, Obama and his administration knew almost from the beginning the potential damage the oil leak presented from the explosion on the Deepwater Horizon.

Obama was evidently told by Carol Browner, head of the White House's Office of Energy and Climate Change Policy, that the disaster would be unprecedented.

Browner also said oil from the accident would continue to leak from the well until the two relief wells are drilled by August. That time-frame may no longer be viable, as it seems it's a best case scenario to have the well completed by that time, with some thinking it'll take until December before they're ready.

This seems to important from the point of view of the perceived slow response by Obama and his administration to the disaster.

While the administration says it sent out the Coast Guard the day after the explosion, that doesn't connect with people who apparently don't think it was near enough.

Sending out the Coast Guard is one thing, having it mean something as to dealing with the problem is another.

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