A BP (NYSE:BP) executive adamantly insists that there's no better dispersant for the pollution cleanup. Not to mention the dispersant that the EPA is now demanding be replaced, was approved by the Unified Command, the national guard, as well as the EPA.
It is an approved product and is effective in the pollution cleanup. Doug Suttles, BP's chief operating officer stated on Good Morning America, "it's making a difference in this fight to try and keep this stuff from coming to shore."
Suttles also stated, BP intents to continue looking for a better alternative but, "right now we cannot identify another product that is available that's better than Corexit." This statement leaves many wondering if BP will comply with the deadline the EPA has given it.
BP said in a statement to ABC News, the chemical is "one of the most well studied dispersants." It's choice of the use of Corexit was based partially on being able to "get a sufficient supply to meet our needs on a short notice."
Friday, May 21, 2010
BP (NYSE:BP) Pollution Cleanup Continues, Cover up Denied
BP (NYSE:BP) had estimated that the fuel oil spill from the oil pipeline was around 5,000 barrels a day. The U.S. government and some scientist have doubted and questioned this figure as the pollution cleanup continues.
BP oil has said that some of the third party estimates on the daily loss from the oil spill are inaccurate and are adamantly denying a cover up. A spokesman from the BP oil company said Friday, "it was only ever meant to be a rough estimate." This statement was prompted by the accusations by U.S. lawmakers accused them of hiding the true and full estimate of the spill.
BP has also stated that there are several ways to measure the oil that is leaking. The damage to the pipe has distorted the diameter by 30 percent, although this flow has been reduced by an additional 10 percent due to the pipe trapped inside the riser.
"Thus, some third party estimates of flow, which assume a 19.5 inch diameter, are inaccurate," BP said. Plus, there is data showing that 50 percent of the plume formed by the oil leak is natural gas not oil.
BP oil has said that some of the third party estimates on the daily loss from the oil spill are inaccurate and are adamantly denying a cover up. A spokesman from the BP oil company said Friday, "it was only ever meant to be a rough estimate." This statement was prompted by the accusations by U.S. lawmakers accused them of hiding the true and full estimate of the spill.
BP has also stated that there are several ways to measure the oil that is leaking. The damage to the pipe has distorted the diameter by 30 percent, although this flow has been reduced by an additional 10 percent due to the pipe trapped inside the riser.
"Thus, some third party estimates of flow, which assume a 19.5 inch diameter, are inaccurate," BP said. Plus, there is data showing that 50 percent of the plume formed by the oil leak is natural gas not oil.
Thursday, May 20, 2010
NovaGold (AMEX:NG) CEO Says Company Good for Three Years
NovaGold (AMEX:NG) CEO and President Rick Van Nieuwenhuyse said earlier in the month that the company has reversed its setbacks over the last three years and is now set financially for the next three years, referring to the financing secured by the gold miner.
Much of the financing required by NovaGold was secured through investment from hedge fund Paulson & Co. and Quantum Partners, which brought them $175 million to help with their capital needs.
Another strategic and important source of financing came from Electrum Strategic Resources in the early part of 2009, which allowed NovaGold to retain its interest in important assets of Donlin Creek and Galore Creek. They also had enough to deal with operational issues at its Rock Creek project, which they should be able to comply with regulations and get it back up and running.
Although the company is going through a correction related to the overall gold price correction, it is close to increasing production and getting going on all cylinders, which should make shareholders happy, and the company very profitable.
Much of the financing required by NovaGold was secured through investment from hedge fund Paulson & Co. and Quantum Partners, which brought them $175 million to help with their capital needs.
Another strategic and important source of financing came from Electrum Strategic Resources in the early part of 2009, which allowed NovaGold to retain its interest in important assets of Donlin Creek and Galore Creek. They also had enough to deal with operational issues at its Rock Creek project, which they should be able to comply with regulations and get it back up and running.
Although the company is going through a correction related to the overall gold price correction, it is close to increasing production and getting going on all cylinders, which should make shareholders happy, and the company very profitable.
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