With weather cooperating, BP (NYSE:BP) said they're ready to begin the first step leading to the permanently sealing of the oil well with the "bottom kill."
The first step in the process is to remove the cap they plugged the leak with, which has kept the oil from leaking into the Gulf of Mexico since July 15.
After the cap is removed, the next step will be to remove the blowout preventer which failed to do its job in preventing the oil leak from happening in the first place.
From there they'll put a new blowout preventer in place in order to protect the well when the final procedure is begun.
The trick and desired result is to remove the failed blowout preventer without damaging it, as it's a key piece of evidence in the ongoing investigation.
Each step will depend on the weather, so it could be one thing done at a time and then wait, if the weather doesn't cooperate.
Showing posts with label Oil Leak. Show all posts
Showing posts with label Oil Leak. Show all posts
Thursday, September 2, 2010
Monday, August 30, 2010
BP (NYSE:BP) to Start Removing Well Cap Today
Today BP (NYSE:BP) begins the difficult task of removing the temporary cap used to stop the oil from entering into the Gulf of Mexico, while at the same time attempting to remove the blowout preventer which didn't work as it should have to prevent oil from spilling into the water.
Most of the determination of who will be fined or liable is centered primarily around the blowout preventer, and it continues to be the key piece of physical evidence in the case.
The trick will be to remove it while not allowing the approximate 1,000 barrels of oil trapped to release into the Gulf, while also not damaging the vital piece of evidence.
When the company performed the "top kill," they inadvertently trapped the oil in the well, making it difficult to remove the blowout preventer without some of the oil entering the Gulf.
Expectations are the process will be performed without the oil leaking into the Gulf, but BP will be on standby to collect the oil in case it does.
Government point man Thad Allen gave the go ahead to start the operation today.
Most of the determination of who will be fined or liable is centered primarily around the blowout preventer, and it continues to be the key piece of physical evidence in the case.
The trick will be to remove it while not allowing the approximate 1,000 barrels of oil trapped to release into the Gulf, while also not damaging the vital piece of evidence.
When the company performed the "top kill," they inadvertently trapped the oil in the well, making it difficult to remove the blowout preventer without some of the oil entering the Gulf.
Expectations are the process will be performed without the oil leaking into the Gulf, but BP will be on standby to collect the oil in case it does.
Government point man Thad Allen gave the go ahead to start the operation today.
Friday, August 27, 2010
BP (NYSE:BP) Questions Government Oil Spill Figures
The grandstanding Democrat, Rep. Edward Markey, from Massachusetts, is evidently outraged that BP (NYSE:BP) is actually questioning the very high figures put forth by the Government as to how much oil spilled into the ocean.
In an attempt to make it look like he's taking the high road, Markey said, "I continue to urge BP to accept these numbers in order to move on to the vital task of Gulf restoration, instead of endless litigation."
But why should BP simply accept the numbers? When the numbers first came out, I thought they were very high, and with billions at stake dependent upon those numbers, there's no reason in the world to simply accept them as fact and go forward.
BP attorney Douglas Curtis responded to Markey saying, "Without addressing the letter's premises, BP agrees with you that it is important to determine the amount of oil that was discharged from the MC 252 well in the Gulf of Mexico."
Government scientists claim 53,000 barrels a day escaped the well into the Gulf of Mexico, while 62,000 a day escaped leaked at the beginning of the spill. That results in the estimate of 4.9 million barrels being released into the Gulf.
Of that, about 800,000 barrels were captured by BP before the well was finally capped.
In an attempt to make it look like he's taking the high road, Markey said, "I continue to urge BP to accept these numbers in order to move on to the vital task of Gulf restoration, instead of endless litigation."
But why should BP simply accept the numbers? When the numbers first came out, I thought they were very high, and with billions at stake dependent upon those numbers, there's no reason in the world to simply accept them as fact and go forward.
BP attorney Douglas Curtis responded to Markey saying, "Without addressing the letter's premises, BP agrees with you that it is important to determine the amount of oil that was discharged from the MC 252 well in the Gulf of Mexico."
Government scientists claim 53,000 barrels a day escaped the well into the Gulf of Mexico, while 62,000 a day escaped leaked at the beginning of the spill. That results in the estimate of 4.9 million barrels being released into the Gulf.
Of that, about 800,000 barrels were captured by BP before the well was finally capped.
Thursday, August 19, 2010
BP (NYSE:BP) Tarnished Image Getting Some Shine
BP (NYSE:BP) took a big hit to its brand and image when the Gulf oil spill and the resultant media coverage erupted across the world.
That has slowly began to change now that they've stopped the oil from leaking into the Gulf, and a permanent plugging of the well near at hand.
Another factor was the relatively small effects of the oil spill on the Gulf. The media and the Obama administration had hyped the damage so much that once the oil well stopped flowing, the results surprised most people with about 75 percent of the oil already having been removed naturally by the Gulf itself, or to a much lesser extent, by skimming the waters with ships.
Approval ratings for BP are over double what they were when they stood at an anemic 15 percent, according to an AP poll, which shows 33 percent of people approve of the job BP has been doing.
That has slowly began to change now that they've stopped the oil from leaking into the Gulf, and a permanent plugging of the well near at hand.
Another factor was the relatively small effects of the oil spill on the Gulf. The media and the Obama administration had hyped the damage so much that once the oil well stopped flowing, the results surprised most people with about 75 percent of the oil already having been removed naturally by the Gulf itself, or to a much lesser extent, by skimming the waters with ships.
Approval ratings for BP are over double what they were when they stood at an anemic 15 percent, according to an AP poll, which shows 33 percent of people approve of the job BP has been doing.
Wednesday, August 18, 2010
Another BP (NYSE:BP) Pipeline May be Leaking in Indiana
Officials from BP (NYSE:BP) and local and state government were called to a location in Hammond, Indiana where a possible pipeline could be leaking oil in a neighborhood.
Several calls came in from a neighborhood where claims were made that there was a smell of oil in the area.
One resident was evacuated, who had claimed a smell in her home and her storm sewer.
Firefighters that came to investigate weren't able to smell any of the supposed odors.
“At this point, no leak has been identified, but the pipeline is locked in and shut down in the area while we continue to conduct a further investigation,” BP Whiting spokesman Tom Keilman. “We have people on the scene along with the City of Hammond and are awaiting excavation equipment to dig in the area of the storm sewer in that location. It’s no threat to the community. One resident was evacuated as a precaution after we did some readings, but that resident has since then returned.”
BP has begun excavating the area to see if there are any leaks. They did turn the gas off and back on again to test the pressure, which is usually what identifies if there is a leak or not. If the pressure remains down once it's turned back on, it would show there was a leak somewhere.
That didn't happen, so they're checking to see if anything else is wrong.
Several calls came in from a neighborhood where claims were made that there was a smell of oil in the area.
One resident was evacuated, who had claimed a smell in her home and her storm sewer.
Firefighters that came to investigate weren't able to smell any of the supposed odors.
“At this point, no leak has been identified, but the pipeline is locked in and shut down in the area while we continue to conduct a further investigation,” BP Whiting spokesman Tom Keilman. “We have people on the scene along with the City of Hammond and are awaiting excavation equipment to dig in the area of the storm sewer in that location. It’s no threat to the community. One resident was evacuated as a precaution after we did some readings, but that resident has since then returned.”
BP has begun excavating the area to see if there are any leaks. They did turn the gas off and back on again to test the pressure, which is usually what identifies if there is a leak or not. If the pressure remains down once it's turned back on, it would show there was a leak somewhere.
That didn't happen, so they're checking to see if anything else is wrong.
Friday, August 6, 2010
Why is BP (NYSE:BP) Not Committing to Cementing Relief Well?
The apparent turnaround by BP (NYSE:BP) in regard to pumping the relief well full of mud and cement to permanently plug the oil well, speaks to something happening behind the scenes which isn't being communicated to the public.
Lately when asked about injecting the oil well for the bottom kill, BP hasn't said they're going to plug the well permanently, seeming to say they're considering doing something with the oil rather than trapping below the Gulf floor with no profitable way to extract it again.
That speaks to coming back some day and resuming operations, which after things calm down, they could attempt, or more likely, it speaks to them thinking in terms of selling the asset to another oil company.
The estimated amount of oil left in the well is a little over 45,000 barrels, which would fetch well over $3 billion. BP is probably thinking why waste the oil when they could sell the asset as part of the process of raising capital.
But the sensitive nature of coming out with that at this time would cause a new round of criticism from some quarters, and would detract from the success in finally getting a handle on the leaking oil.
There can be no doubt the government is talking with BP behind the scenes about this, although they are sure not to admit to this, at least no anytime soon.
It makes sense to not waste the oil, which American consumers so desperately need, and to not to waste the capital BP could raise help them over the next several years.
Lately when asked about injecting the oil well for the bottom kill, BP hasn't said they're going to plug the well permanently, seeming to say they're considering doing something with the oil rather than trapping below the Gulf floor with no profitable way to extract it again.
That speaks to coming back some day and resuming operations, which after things calm down, they could attempt, or more likely, it speaks to them thinking in terms of selling the asset to another oil company.
The estimated amount of oil left in the well is a little over 45,000 barrels, which would fetch well over $3 billion. BP is probably thinking why waste the oil when they could sell the asset as part of the process of raising capital.
But the sensitive nature of coming out with that at this time would cause a new round of criticism from some quarters, and would detract from the success in finally getting a handle on the leaking oil.
There can be no doubt the government is talking with BP behind the scenes about this, although they are sure not to admit to this, at least no anytime soon.
It makes sense to not waste the oil, which American consumers so desperately need, and to not to waste the capital BP could raise help them over the next several years.
BP (NYSE:BP) Oil Spill Emergency Response Lowered to Level 2 by Florida
The Florida State Emergency Operations Center lowered its emergency response to a Level 2 concerning the BP oil spill and how it has affected the coastlines of the state, and what threat remains from it.
David Halstead, director of the Florida Division of Emergency Management gave this as his reasoning, “Due to the success of the static kill operation and the progress toward a permanent well-kill, the threat of heavy impact to the state of Florida is significantly reduced. While the State Emergency Operations Center has transitioned to a Level 2, the State Emergency Response Team remains focused on protecting Florida’s businesses, residents, visitors, and communities from any oil remaining in the Gulf of Mexico.”
The ability of the Gulf of Mexico to heal itself has caught a lot of observers off guard, and it has changed the way organizations and institutions like the Florida Division of Emergency Management view the overall threat related to the oil leaking into the Gulf.
That's not to say there's not threat left, as they'll continue to go where needed when oil is discovered along the coastlines of Florida.
David Halstead, director of the Florida Division of Emergency Management gave this as his reasoning, “Due to the success of the static kill operation and the progress toward a permanent well-kill, the threat of heavy impact to the state of Florida is significantly reduced. While the State Emergency Operations Center has transitioned to a Level 2, the State Emergency Response Team remains focused on protecting Florida’s businesses, residents, visitors, and communities from any oil remaining in the Gulf of Mexico.”
The ability of the Gulf of Mexico to heal itself has caught a lot of observers off guard, and it has changed the way organizations and institutions like the Florida Division of Emergency Management view the overall threat related to the oil leaking into the Gulf.
That's not to say there's not threat left, as they'll continue to go where needed when oil is discovered along the coastlines of Florida.
Monday, August 2, 2010
Obama Administration and BP's (NYSE:BP) Oil Leaking Levels
Now that it has been proven that the BP (NYSE:BP) oil spill in the Gulf isn't anywhere near the catastrophe it was thought to be, or reported to be, the Obama administration has a problem, and that is to determine the amount of oil leaking into the Gulf, which has no metrics in place to make the determination.
The other problem is the oil-eating microbes and evaporation has been far more effective in naturally handling the large amount of oil, and would have to be included in the final assessment of the effects of the spill on the region. At least it will have to be if the people making the decision have integrity.
So in a sense, the point isn't how much oil was released into the Gulf, it's how much oil caused damage in the Gulf, which can in fact be measured. The amount of oil from the well can't be determined in any way, and would just be a guess.
What is the point then in trying to figure out oil leaking levels? Nothing really. What is the Obama administration going to do, fine them for the oil traveling to the surface of the Gulf of Mexico and evaporating. Or charge them for microbes getting a large meal than in the past?
It's incredible to see the extraordinary media hype was based on raw emotion and little facts.
Scientists and professors all around the U.S. have come out of the woodwork saying it may not even be able to be labeled an environmental disaster.
This is why environmental groups are scrambling to keep the narrative one of a disaster, as they've largely lost donations during the tough economic times and are trying to pressure BP via the media to pay billions before the story grabs hold that this was far from the disaster that has been portrayed.
The other problem is the oil-eating microbes and evaporation has been far more effective in naturally handling the large amount of oil, and would have to be included in the final assessment of the effects of the spill on the region. At least it will have to be if the people making the decision have integrity.
So in a sense, the point isn't how much oil was released into the Gulf, it's how much oil caused damage in the Gulf, which can in fact be measured. The amount of oil from the well can't be determined in any way, and would just be a guess.
What is the point then in trying to figure out oil leaking levels? Nothing really. What is the Obama administration going to do, fine them for the oil traveling to the surface of the Gulf of Mexico and evaporating. Or charge them for microbes getting a large meal than in the past?
It's incredible to see the extraordinary media hype was based on raw emotion and little facts.
Scientists and professors all around the U.S. have come out of the woodwork saying it may not even be able to be labeled an environmental disaster.
This is why environmental groups are scrambling to keep the narrative one of a disaster, as they've largely lost donations during the tough economic times and are trying to pressure BP via the media to pay billions before the story grabs hold that this was far from the disaster that has been portrayed.
Friday, July 30, 2010
Bobby Jindal Wants BP (NYSE:BP) Cleanup in Local Hands
In what was defined as a "contentious" meeting with federal officials, Louisiana governor Bobby Jindal said he wants priorities for the BP (NYSE:BP) oil spill cleanup to come from the bottom up, and not from the top down.
Jindal defined what he was talking about, saying, "What we suggest is that they allow each parish to come up with their own detailed plan, parish by parish."
Some of this came from the typical ineptness of the federal government and its multi-layered bureaucracy, which in the recent case of Tropical Storm Bonnie, evidently removed booms and other equipment used to fight oil far too soon before the storm hit the area, according to parish presidents.
This was where a lot of the contention in the meeting revolved around, that the local and regional people in the area now what's best for them, and not the federal government.
Jindal is right in his suggestion. Each region does know what's best for them, and they're the ones with everything at stake. That makes them think through their decisions and the reasons behind it much more efficiently, thoroughly and accurately, than their federal counterparts.
Federal government front man Thad Allen, evidently wouldn't have none of that, rather stating the many government agencies would cooperate closely and "jointly" work on cleaning up the coastal areas.
Jindal defined what he was talking about, saying, "What we suggest is that they allow each parish to come up with their own detailed plan, parish by parish."
Some of this came from the typical ineptness of the federal government and its multi-layered bureaucracy, which in the recent case of Tropical Storm Bonnie, evidently removed booms and other equipment used to fight oil far too soon before the storm hit the area, according to parish presidents.
This was where a lot of the contention in the meeting revolved around, that the local and regional people in the area now what's best for them, and not the federal government.
Jindal is right in his suggestion. Each region does know what's best for them, and they're the ones with everything at stake. That makes them think through their decisions and the reasons behind it much more efficiently, thoroughly and accurately, than their federal counterparts.
Federal government front man Thad Allen, evidently wouldn't have none of that, rather stating the many government agencies would cooperate closely and "jointly" work on cleaning up the coastal areas.
Thursday, July 22, 2010
BP (NYSE:BP) Effort to Permanently Stop Leak Threatened by Storms
BP (NYSE:BP) again finds itself under the threat of Gulf storms, as the effort to stop the oil leak permanently could be hindered again if storms are unleashed in the region.
If a storm does come, BP would have to move its ships from the area, keeping them from observing the well, but it would still remain capped, assuming everything goes well for during that time.
Weather forecasters give the storm about a 60 percent chance of turning into a tropical storm by Friday. Even so, it is weakening as it approaches other countries in the Gulf.
If it does drive BP out of the area, the government may have them open the cap to relieve pressure in order to prevent the cap from causing any major underground leaks while a storm is in the region and observation is impossible.
If a storm does come, BP would have to move its ships from the area, keeping them from observing the well, but it would still remain capped, assuming everything goes well for during that time.
Weather forecasters give the storm about a 60 percent chance of turning into a tropical storm by Friday. Even so, it is weakening as it approaches other countries in the Gulf.
If it does drive BP out of the area, the government may have them open the cap to relieve pressure in order to prevent the cap from causing any major underground leaks while a storm is in the region and observation is impossible.
Wednesday, July 21, 2010
Seepage Not from BP's (NYSE:BP) Macondo Well
The oil seepage that had everyone worried and fearful is a false alarm as far as it being connected to the BP (NYSE:BP) Macondo Well. Government representative, Thad Allen, said the seepage is coming from a nearby abandoned well, and is not as a result of the containment cap or pressure related to it.
Two wells that are less than two miles from the Macondo well are one of the culprits. One isn't in production and the other is an abandoned oil well; one of approximately 27,000 abandoned wells in the Gulf of Mexico.
Allen also spoke to the five leaks that are close to the broken well, saying they should be understood as drips, and shouldn't be interpreted as suggesting instability in the well.
Two wells that are less than two miles from the Macondo well are one of the culprits. One isn't in production and the other is an abandoned oil well; one of approximately 27,000 abandoned wells in the Gulf of Mexico.
Allen also spoke to the five leaks that are close to the broken well, saying they should be understood as drips, and shouldn't be interpreted as suggesting instability in the well.
Tuesday, July 20, 2010
BP (NYSE:BP): Pressure Rising with New Containment Cap
Even though stories have been circulating about a leak in the Macondo well, the fact that the pressure continues to rise is an indicator the well isn't leaking.
This is why the company has been looking for the pressure to continue rising to close to 8,000 pounds a square inch, as it would bring the conclusion there isn't a leak.
If the well wasn't rising in pressure, or the pressure was low, it would indicate a leak in the well, and the need to take further action to plug it.
The latest figures had the well pressure at close to 6,800 pounds a square inch, a good number going forward, which implies the integrity of the well is being retained, and/or there are no leaks at other parts of the well.
This is why the company has been looking for the pressure to continue rising to close to 8,000 pounds a square inch, as it would bring the conclusion there isn't a leak.
If the well wasn't rising in pressure, or the pressure was low, it would indicate a leak in the well, and the need to take further action to plug it.
The latest figures had the well pressure at close to 6,800 pounds a square inch, a good number going forward, which implies the integrity of the well is being retained, and/or there are no leaks at other parts of the well.
Friday, July 16, 2010
Anadarko (NYSE:APC), Transocean (NYSE:RIG) Soar on BP (NYSE:BP) Stopping Gulf Oil Leak
Investors scrambled to invest in Anadarko (NYSE:APC) and Transocean (NYSE:RIG) at the end of the trading day Thursday, on the news BP (NYSE:BP) stopped oil from leaking into the Gulf of Mexico, having successfully closed the valves with their new containment cap.
BP was up over 7 percent at the end of trading. Transocean was next, up by $2.34, or 4.47 percent. Anadarko Petroleum was right behind them, gaining $1.50 a share, or 3.15 percent.
Anadarko continues to rise after trading, as did BP, while Transocean pulled back.
BP was up over 7 percent at the end of trading. Transocean was next, up by $2.34, or 4.47 percent. Anadarko Petroleum was right behind them, gaining $1.50 a share, or 3.15 percent.
Anadarko continues to rise after trading, as did BP, while Transocean pulled back.
Tuesday, July 13, 2010
Testing Begins on New BP (NYSE:BP) Containment Cap
After placing the 150,000 lb. containment cap over the oil well leaking in the Gulf of Mexico, BP (NYSE:BP) has began testing the new cap to see if it can do the job of stopping the oil from leaking into the Gulf.
The tests area a double-edged sword, in that the news could be bad news because it could confirm the flowing oil can't be contained, or of course it could be good news that it can be. The tests will make that determination.
BP began with seismic testing, and later on in the day has plans in place to test the well's integrity.
"When the data says that we need to open up the well we'll do that," he said. "When the data says that the well can be shut in we'll do that," said BP Senior Vice President Kent Wells.
The testing offers other uncertainties as it relates to time, as testing could be completed today, or stretch out for two days or longer.
Even if the cap can't successfully completely stop the flow of oil, it will be an improvement over the prior cap, slowing down the oil, and will also all collection vessels on the surface to disconnect and reconnect quicker in case of bad weather, helping to keep more oil from escaping into the Gulf.
The tests area a double-edged sword, in that the news could be bad news because it could confirm the flowing oil can't be contained, or of course it could be good news that it can be. The tests will make that determination.
BP began with seismic testing, and later on in the day has plans in place to test the well's integrity.
"When the data says that we need to open up the well we'll do that," he said. "When the data says that the well can be shut in we'll do that," said BP Senior Vice President Kent Wells.
The testing offers other uncertainties as it relates to time, as testing could be completed today, or stretch out for two days or longer.
Even if the cap can't successfully completely stop the flow of oil, it will be an improvement over the prior cap, slowing down the oil, and will also all collection vessels on the surface to disconnect and reconnect quicker in case of bad weather, helping to keep more oil from escaping into the Gulf.
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.
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.
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.
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.
Attempts to Save 70,000 Gulf Turtle Eggs Close to Starting
Efforts to save about 70,000 turtle eggs from what is considered almost certain death for them if they are allowed to hatch and swim out into the oily water.
The U.S. Fish and Wildlife Service will attempt to coordinate the plan, which will call for heavy manual labor in order to save some of the eggs, which are scattered throughout about 800 nests buried in the sand along Alabama and Florida Panhandle beaches.
Nothing on this scale has ever been attempted, and there's no doubt the medicine could be very harsh on the turtles, as many are sure to die in transport.
The process was described in this way: "...the eggs will be carefully placed in specially designed Styrofoam containers, like coolers, along with sand and moisture to mimic the natural nest. The containers will then be trucked about 500 miles east to a temperature-controlled warehouse at Florida's Kennedy Space Center."
For those turtles which hatch and survive, they'll be placed on an individual basis on the east coast of Florida, where they'll be able to swim out into the Atlantic ocean, where there are no oil deposits from the spill in the Gulf.
Collecting the turtle eggs is scheduled to begin in about 9 to 10 days.
The U.S. Fish and Wildlife Service will attempt to coordinate the plan, which will call for heavy manual labor in order to save some of the eggs, which are scattered throughout about 800 nests buried in the sand along Alabama and Florida Panhandle beaches.
Nothing on this scale has ever been attempted, and there's no doubt the medicine could be very harsh on the turtles, as many are sure to die in transport.
The process was described in this way: "...the eggs will be carefully placed in specially designed Styrofoam containers, like coolers, along with sand and moisture to mimic the natural nest. The containers will then be trucked about 500 miles east to a temperature-controlled warehouse at Florida's Kennedy Space Center."
For those turtles which hatch and survive, they'll be placed on an individual basis on the east coast of Florida, where they'll be able to swim out into the Atlantic ocean, where there are no oil deposits from the spill in the Gulf.
Collecting the turtle eggs is scheduled to begin in about 9 to 10 days.
Tuesday, June 29, 2010
BP (NYSE:BP) Oil Hits Mississippi for First Time
The Mississippi mainland has been hit by Gulf oil for the first time, causing tourists to leave the area. Thick, brownish looking oil, along with tar balls, made their way to the Mississippi shoreline.
Major tourist attraction and gambling casino mecca Biloxi also had its first taste of oil, and it has frustrated local officials who say it's almost impossible to reach the government, let along get its help.
Jackson County official John McKay said, "This is the most frustrating process I have experienced. We have asked and asked for an easier process. It's unfortunate that we have to call all day long to get somebody out here the following day."
State and local Mississippi officials continue to complain about the slow response to the migrating oil, with very little in the way of any cleanup efforts at all directed their way.
Major tourist attraction and gambling casino mecca Biloxi also had its first taste of oil, and it has frustrated local officials who say it's almost impossible to reach the government, let along get its help.
Jackson County official John McKay said, "This is the most frustrating process I have experienced. We have asked and asked for an easier process. It's unfortunate that we have to call all day long to get somebody out here the following day."
State and local Mississippi officials continue to complain about the slow response to the migrating oil, with very little in the way of any cleanup efforts at all directed their way.
Saturday, June 26, 2010
Will BP's (NYSE:BP) Increased Capture Capacity End Spill?
If BP (NYSE:BP) has some luck on their side, next week when they increase their ability to capture oil from the leaking oil well in the Gulf of Mexico, they'll be able to manage the flow for the first time it started leaking into the Gulf.
A lot has to fall in place, and the most important is whether that increased capacity will be enough to cover the amount of oil continuing to empty into the Gulf.
Estimates will have to be fairly accurate for that to happen, and if they are able to cover those projections, for the first time an estimate as to the liability concerning the spill will probably be able to be made; at least as to how the Clean Water Act goes, which could result in billion of dollars in fines, depending on how BP's role in the accident is defined.
The other problem and potential frustration is if they are able to collect the vast majority of oil spilling, and then storms arrive which undo a lot of that progress for a significant period of time.
If they are able to put the new system in place, at least they'll be able to relatively quickly attach and detach to and from the system, which would allow less oil to continue being released.
At this time meteorologists have said it could be the worst storm season in years, and three major ones could hit the Gulf in a major way.
A lot has to fall in place, and the most important is whether that increased capacity will be enough to cover the amount of oil continuing to empty into the Gulf.
Estimates will have to be fairly accurate for that to happen, and if they are able to cover those projections, for the first time an estimate as to the liability concerning the spill will probably be able to be made; at least as to how the Clean Water Act goes, which could result in billion of dollars in fines, depending on how BP's role in the accident is defined.
The other problem and potential frustration is if they are able to collect the vast majority of oil spilling, and then storms arrive which undo a lot of that progress for a significant period of time.
If they are able to put the new system in place, at least they'll be able to relatively quickly attach and detach to and from the system, which would allow less oil to continue being released.
At this time meteorologists have said it could be the worst storm season in years, and three major ones could hit the Gulf in a major way.
Thursday, June 24, 2010
BP (NYSE:BP) and Cost of Clean Water Act
The accurate measurement of the amount of oil flowing in the Gulf is vital to BP (NYSE:BP) (LON:BP), as for every barrel of oil that leaks into the waters, they could be fined $4,300, according to Clear Water Act penalties.
What determines whether or not BP will be fined is if they are charged with gross negligence. If so, the fine could be imputed on them, although if it got so costly they couldn't afford to pay it, it would be irrelevant, and could drive them to bankruptcy.
Assuming the upper end of government estimates of 60,000 barrels a day being released into the Gulf, and capture rates of a little over 27,000 (at this time), that would leave about 33,000 barrels a day they could be fined for.
That means on a daily basis, the cost to the company could be over $142 million, and that doesn't include the $20 billion in the escrow fund or any litigation costs.
The cost of doing business has skyrocketed as well, with insurance and credit default swaps surging in price.
As a growing number of people are realizing, a lot of the outrage needs to be contained, and if the only focus is to extract as much as they can from the company, there will be no company left to pay it.
It is in the best interests of everyone for BP to survive and thrive, otherwise they won't be able to handle the costs related to the disaster.
What determines whether or not BP will be fined is if they are charged with gross negligence. If so, the fine could be imputed on them, although if it got so costly they couldn't afford to pay it, it would be irrelevant, and could drive them to bankruptcy.
Assuming the upper end of government estimates of 60,000 barrels a day being released into the Gulf, and capture rates of a little over 27,000 (at this time), that would leave about 33,000 barrels a day they could be fined for.
That means on a daily basis, the cost to the company could be over $142 million, and that doesn't include the $20 billion in the escrow fund or any litigation costs.
The cost of doing business has skyrocketed as well, with insurance and credit default swaps surging in price.
As a growing number of people are realizing, a lot of the outrage needs to be contained, and if the only focus is to extract as much as they can from the company, there will be no company left to pay it.
It is in the best interests of everyone for BP to survive and thrive, otherwise they won't be able to handle the costs related to the disaster.
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