BP Insanity: Negotiating Their Own Punishment
If the Obama Administration passes a bill to stop new offshore drilling permits in the Gulf of Mexico, BP asserts they may fall short of the $20 billion oil spill compensation payments they agreed to pay its victims.
When BP agreed to set aside $20 billion for Gulf Oil Spill clean up and victim compensation, the Obama Administration also permitted BP to pull those funds exclusively out of the revenue made from their Gulf of Mexico operations.
If new offshore drilling permits are no longer available to BP, particularly in the Gulf of Mexico, their revenue from Gulf… Continue reading
BP Oil Spill Investigations
According to a BP internal investigation to be released within the next week or so, engineers working on the Deepwater Horizon Oil Rig when it exploded misinterpreted well data that clearly warned of the impending blowout.
Their satisfaction with the test results not only led to eleven deaths, but to major damage of Gulf States and the largest oil spill in history.
When the pressure tests were approved, workers on the rig began replacing drilling fluid with seawater, a much lighter substitute. Natural gas unknowingly leaking into the pipeline could not be stopped by the lighter seawater. The natural… Continue reading
Disappearing Oil: Do You Believe in Magic?
You might have noticed recent claims from BP and the US Government that clean up of the BP Oil Spill is basically finished and troubles are coming to an end.
