Thursday, July 1, 2010

BP (NYSE:BP) Breaks Unwanted Record of Being Largest Gulf Spill

BP (NYSE:BP) has broken a record they wish they hadn't, as they are now, according to government estimates, the largest spiller of oil into the Gulf of Mexico.

These numbers are based on the higher end of government estimates, so they can't be completely trusted, but either way, it's a huge amount of oil that has been released into the region.

Assuming the higher end of the spectrum, there is about 140.6 million gallons of oil released from the well, and on the lower end of the estimate, it's about 71.7 million.

So while it's unknown as to how much oil is really leaking into the Gulf of Mexico, even by lower estimates it's an extraordinary amount.

This is why it'll be instructive once BP puts their third oil capture system in place, as it'll give a better idea as to the real flow rate in that it'll have the ability to capture over 50,000 barrels a day.

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