Wednesday, July 7, 2010

Questions Grow on BP (NYSE:BP) Stopping Oil Flowing into Gulf

Armchair quarterbacks are everywhere concerning BP (NYSE:BP) and what happens if a number of strategies they're ready to deploy don't work.

The problem is they really don't do much good, and if one attempt to plug the oil well doesn't work, BP has several other plans in place to try.

While most believe the relief wells being drilled will work, as it's been proven to work in other circumstances, the problem again is the depth the well is at, which relief wells have never been attempted before.

Worries and insinuations by the media is good theater and attracts attention, but in the end, nothing will be known until something is attempted and proven to work or not.

One thing we do know is this: nothing else is going to be attempted until they try to stem the flow with the relief wells.

Although there are reportedly a number of other options BP is considering as backup plans to that, they aren't releasing them because it would generate too much speculation and create a round of new questions which simply wouldn't apply until and unless the relief wells don't work.

If they work, the questions are over in regard to containing the oil leak, and then an entire new series of questions and steps will be taken to deal with the fallout.

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