Wednesday, August 4, 2010

BP (NYSE:BP) Contractor Says Let Wetlands Heal Themselves

Wetlands scientist Bob Nailon, a contractor hired by BP (NYSE:BP) to assess the damage to the marshlands in order to see what must be done and the costs involved.

But Nailon said, the best way to handle the limited damage is to let nature take care of it.

"Mother Nature has a wonderful way of recovering from episodes like this, and it's not an-end-of-the-world kind of thing," Nailon said.

An inspection team, including representatives on the federal and state levels, along with BP, are scattering across the five-state region of the Gulf to assess damage and report their findings.

Not only are the wetlands being inspected, but beaches, flats, oyster beds, reefs and habitats in deeper water.

Add this to the amount of oil spilled into the Gulf, along with claims and legal liabilities, and a picture will finally emerge of the actual costs BP will end up having to pay, although the legal picture will be much murkier and unpredictable, depending on decisions on those who decide to sue BP.

Even though BP brought this on themselves and need to take care of their responsibilities, and be accountable for real damages, there's a lot of room for government mischief here because of past decisions to allow the oil and natural gas industry to work the overall area.

That has caused problems over decades, which have very little to do with BP, and they shouldn't have to pay for damages they didn't cause, which could be a very real possibility.

In the end, the government will give BP a plan they want them to work with, and what projects need to be completed. At that point BP will be given the option of taking care of the problems themselves, or having the government perform the practicals while they pay for the work.

Even if the government sees opportunity here, which they do, in the case of the wetlands, it could be better, just the like the Gulf has proven, to mostly leave it alone and let it heal itself.

Already there is little oil to be found in the deeper waters, and far less in the marshes, as the teams of inspectors have already found out.

That proves beyond a doubt that nature is cleaning itself up, and other than giving a little hand, should largely be left alone.

No comments: