You will pay is what is being told to BP (NYSE:BP), Transocean (NYSE:RIG), Halliburton (NYSE:HAL), and Cameron (NYSE:CAM). This demand is coming from 11 East Coast states that have already told BP they put the full responsibility of the damage from the oil spill disaster onto their shoulders.
Connecticut's Attorney General, Richard Blumenthal said, "even without oil actually reaching the Connecticut shoreline, this massive oil spill could still impose damage and destruction to the entire Atlantic coastline." Marine life and birds are likely to be "severely damaged."
Blumenthal added, "Connecticut and a coalition of states are putting BP and affiliated companies on notice that we will not pay the price for their monumental failures." This request seems a little premature considering there has yet to be any damage or destruction done.
Meanwhile, the containment cap that BP is using to contain the oil on Sunday captured 14,570 barrels of oil. While using a secondary containment system to burn off oil, burned 8,720 barrels on Sunday. Between the two systems there is a daily average of 28,000 barrels being captured.
Showing posts with label Oil Spill Disaster. Show all posts
Showing posts with label Oil Spill Disaster. Show all posts
Monday, June 21, 2010
Monday, June 14, 2010
Democrats Pressing BP (NYSE:BP) on Special Account
While no one seems to believe BP (NYSE:BP) will renege on their commitment to clean up the Gulf oil spill and take care of any legitimate claims, that doesn't seem good enough for Democrats, who for some reason are pressuring BP to set up a special account of $20 billion.
This is one of those things that hopefully won't happen. In the current Obama administration, they don't want to let the opportunity of any crisis passing without taking advantage of it, and that looks like what the Democrats are again attempting to do.
why this is so is it's going to be a general account, and the Democrats don't like the idea that BP will pay out only "legitimate" claims.
You can already see these redistributionists greedily eyeing the assets of BP and using them for any number of clownish and unrelated things outside of the oil spill.
Once the Democrats got this general fund set up, they could take it and spend it just about any dubious way they wanted with the most tenuous reason being asserted.
Why Obama and the Democrats want a special account created so badly should only send up red flags everywhere. They just want another $20 billion they can throw around to their special interests, while spending just enough on the cleanup to satisfy those watching them.
BP has been settling a lot of claims, and they continue to do so while already spending billions to battle the effects of the oil spill, like the millions they've been giving to Louisiana to build the berms or islands to battle the oil from coming to shore.
This is nothing more than a big government power play to extract more money from BP and to allow them to spend the money how they want, as if the Democrats can be trusted to spend money in general, as we've seen over the 18 months since they've been in power and are financially destroying the country.
This is one of those things that hopefully won't happen. In the current Obama administration, they don't want to let the opportunity of any crisis passing without taking advantage of it, and that looks like what the Democrats are again attempting to do.
why this is so is it's going to be a general account, and the Democrats don't like the idea that BP will pay out only "legitimate" claims.
You can already see these redistributionists greedily eyeing the assets of BP and using them for any number of clownish and unrelated things outside of the oil spill.
Once the Democrats got this general fund set up, they could take it and spend it just about any dubious way they wanted with the most tenuous reason being asserted.
Why Obama and the Democrats want a special account created so badly should only send up red flags everywhere. They just want another $20 billion they can throw around to their special interests, while spending just enough on the cleanup to satisfy those watching them.
BP has been settling a lot of claims, and they continue to do so while already spending billions to battle the effects of the oil spill, like the millions they've been giving to Louisiana to build the berms or islands to battle the oil from coming to shore.
This is nothing more than a big government power play to extract more money from BP and to allow them to spend the money how they want, as if the Democrats can be trusted to spend money in general, as we've seen over the 18 months since they've been in power and are financially destroying the country.
Sunday, May 30, 2010
Top Kill Failed, Wildlife Fatalities Continue Thanks To BP (NYSE:BP)
As the devastating news came Saturday evening that BP's (NYSE:BP) "top kill" attempt failed, this only means continued disaster to the delicate ecosystems that the oil spill is already destroying. Not to mention the wildlife and sea life that this will continue to devastate for years to come.
Among these are the Gulf of Mexico's 8,300 species, from the smallest plankton to the birds that live, breed, and eat from these waters. There are also numerous animals on the verge of extinction that the crude oil could wipe out all together, such as the Atlantic blue fin tuna and the Kemp's ridley sea turtle, to name just a couple.
Paul Montagna, professor of ecology, said, "instead of creating a typical spill, where the oil goes to the surface and you can scoop it up, this stuff has been distributed throughout the water column, and that means everything, absolutely everything is being effected."
As if the oil isn't enough, the toxic chemicals being dispersed a mile below the surface, are changing the composition of the oil entirely. The effects of this are preventing the oil from breaking down, as well as changing the consistency to being much oilier and much gooier.
"It's probably going to be one of the worst disaster we've ever seen," said Montagna.
Among these are the Gulf of Mexico's 8,300 species, from the smallest plankton to the birds that live, breed, and eat from these waters. There are also numerous animals on the verge of extinction that the crude oil could wipe out all together, such as the Atlantic blue fin tuna and the Kemp's ridley sea turtle, to name just a couple.
Paul Montagna, professor of ecology, said, "instead of creating a typical spill, where the oil goes to the surface and you can scoop it up, this stuff has been distributed throughout the water column, and that means everything, absolutely everything is being effected."
As if the oil isn't enough, the toxic chemicals being dispersed a mile below the surface, are changing the composition of the oil entirely. The effects of this are preventing the oil from breaking down, as well as changing the consistency to being much oilier and much gooier.
"It's probably going to be one of the worst disaster we've ever seen," said Montagna.
Thursday, May 27, 2010
MMS Steps Down, BP (NYSE:BP) Oil Spill Worst In History
It is official, BP (NYSE:BP) is the worst oil spill in U.S. History, this is by the governments task force findings of new estimates of the oil flow. The estimation by the task force is three times more than what was being estimated.
This estimation was given by the scientific team of President Obama who were given the job to determine the accurate amount of oil flowing from the Gulf oil spill. Their original estimate was between 12,000 and 19,000 barrels being lost of oil daily. This is much higher than what the U.S. Coast Guard and BP kept insisting on, 5,000 gallons a day being lost.
The new estimate is no comparison to what was originally estimated. The new oil spill estimate is up to 798,000 gallons daily.
The most conservative estimate, since the April 20th fuel oil spill disaster would be a total of close to 17 million gallons deposited into the ocean. The high end of the estimate, would equal to a total of 29.5 million gallons.
This surpasses the Exxon Valdez Disaster which spilled a total of 11 million gallons of oil.
This estimation was given by the scientific team of President Obama who were given the job to determine the accurate amount of oil flowing from the Gulf oil spill. Their original estimate was between 12,000 and 19,000 barrels being lost of oil daily. This is much higher than what the U.S. Coast Guard and BP kept insisting on, 5,000 gallons a day being lost.
The new estimate is no comparison to what was originally estimated. The new oil spill estimate is up to 798,000 gallons daily.
The most conservative estimate, since the April 20th fuel oil spill disaster would be a total of close to 17 million gallons deposited into the ocean. The high end of the estimate, would equal to a total of 29.5 million gallons.
This surpasses the Exxon Valdez Disaster which spilled a total of 11 million gallons of oil.
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