With one of the two key pieces of the failure of BP (NYSE:BP) in relationship to the Gulf oil spill having come to light - the poor cement mixture used by Halliburton (NYSE:HAL) to seal the Macondo oil well - BP could be one step closer to saving billions in fines connected to the Clean Water Act.
The second piece of the puzzle, the blowout preventer, which was provided by Cameron International (NYSE:CAM) is next to be decided upon, and once that is completed, BP will probably be exonerated as far as being considered grossly negligent, as the failure will end up being from contractors rather than BP itself.
That of course doesn't excuse BP from its oversight in the matter, which is where in fact it did fail.
Other major oil companies have noted the same thing, that they will have to be much more diligent in managing contractors than in the past, as that would probably have saved BP from even having experienced what they're now going through.
2 comments:
There is not a scintilla of evidence that the cement was unstable, all we have is different engineers from those who did the job using different cement, different additives, at different temperatures and pressures, and getting different results.
And the blowout preventer was not designed to absorb an eleven thousand PSI gas explosion and then shut in the well, it is a blowout PREVENTER, you are supposed to shut it BEFORE a blowout, it is not a blowout REVERSER.
BP still ruined the float collar, destroyed the integrity of the cement job with less than a third of the required centralizers, screwed up the negative test, utterly failed to examine the integrity of the wellbore, and conducted operations which destroyed the capacity of the drillers to even monitor conditions in the well.
All of this in spite of the fact that the Macondo well had a dangerous history of unpredictable gas kicks.
No, BO is grossly negligent. Just like they were grossly negligent raping and pillaging Iran, and like when they utterly failed to do hat they were paid to do to prevent the Exxon Valdez disaster, just like when they blew a Texas town off the map.
BP is a cancer, a destructive malignancy, and it should be hounded in disgrace off the North American continent permanently.
There is not a scintilla of evidence that the cement was unstable, all we have is different engineers from those who did the job using different cement, different additives, at different temperatures and pressures, and getting different results.
And the blowout preventer was not designed to absorb an eleven thousand PSI gas explosion and then shut in the well, it is a blowout PREVENTER, you are supposed to shut it BEFORE a blowout, it is not a blowout REVERSER.
BP still ruined the float collar, destroyed the integrity of the cement job with less than a third of the required centralizers, screwed up the negative test, utterly failed to examine the integrity of the wellbore, and conducted operations which destroyed the capacity of the drillers to even monitor conditions in the well.
All of this in spite of the fact that the Macondo well had a dangerous history of unpredictable gas kicks.
No, BO is grossly negligent. Just like they were grossly negligent raping and pillaging Iran, and like when they utterly failed to do hat they were paid to do to prevent the Exxon Valdez disaster, just like when they blew a Texas town off the map.
BP is a cancer, a destructive malignancy, and it should be hounded in disgrace off the North American continent permanently.
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