Friday, July 30, 2010

BP's (NYSE:BP) Bob Dudley Says Time to Slash Cleanup Efforts

While it has been helpful to those who have lost work in the area because of the BP (NYSE:BP) oil spill, there simply isn't much oil left to removed from the Gulf of Mexico, and incoming CEO Bob Dudley said it's time to cut back on the cleanup efforts, while stressing the ongoing commitment of BP to make things right.

The reality of skimming boats, as far as that part of the oil cleanup, is historically, at best, it cleans about 2 percent of the oil spilled in an ocean. Most of the time it's less than that, so even when oil was spewing into the region, that was the case. Now that it's under control with the new containment cap, evaporation and oil-consuming microbes are rapidly removing the oil from the Gulf, and make the former size of the cleanup effort no longer no longer appropriate.

Dudley did reiterate the commitment of BP to cleaning up the effects of the spill, and will continue doing that till the job is completed.

Concerning the overall effects of the oil spill, Dudley said the politically correct statement that "Anyone who thinks this wasn't a catastrophe must be far away from it," not really addressing the realities of the oil rapidly subsiding in the region.

The emotional hype generated by mainstream media outlets to attract eyeballs has left the residue of unbelief concerning any positive news out of the Gulf oil spill.

There is also the want and need to extract as much money out of BP as possible while the public anger remains fixated on them. Even slowing down the cleanup operations has caused much fear and consternation among some politicians and residents, who simply don't listen to the facts and are still overheating on their emotions.

The fact is the reported damage from the oil leak have been overblown, and most of the coastlines of the Gulf haven't been touched by oil, or at most, very little.

So the amount of work to clean the Gulf has to be cut back based on that reality, and not the idea that there is some type of unmanageable amount of hidden oil lurking in the Gulf that crews must be ready to rescue us all from.


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