BP‘s capping of the formerly oil spewing well in the exploded and sunk Deepwater Horizon off the coast of Louisiana, has now been holding strong for three days, and tests conducted by BP have determined that there has been no additional damage to the well since the capping; early on it was feared that the [...]
Although pressure readings are gradually rising inside the newly capped well, there are still no signs of new leaks. However, officials have been worried that oil may be escaping from somewhere as the pressure readings do not seem to be as high as they should be for a fully plugged well. doclix_pid = 16680; doclix_cid [...]
Apart from the obvious areas of the Gulf States‘ economy, such as fishing and offshore energy production, that will be affected by the Deepwater Horizon spill, analysts expect that a number of other, less obvious areas will be affected as well. Among these are casinos, lodging, real estate, and governments. On the whole the spill [...]
The seemingly inexhaustible supply of oil coming from the Deepwater Horizon is still showing no signs of stopping; at the same time, BP launches a new effort to put a cap on the well; however, Coast Guard representatives warn that capping the well is not as easy a task as it may sound. “It’s not [...]
Since the explosion of the Deepwater Horizon, a number of estimates, seemingly varying from day to day, about the exact volume of oil that is spilling from the destroyed tanker into the Gulf of Mexico, have come and gone; estimates as low as 1000 barrels a day and as high as 60,000 barrels a day. [...]
On Tuesday, President Obama was criticized for his ban on deepwater drilling by oil executives. Their beef with the ban, aside from the loss in profits their respective companies stood to lose, was that there were not enough alternative sources of oil available to justify a ban of deepwater drilling. According to Steven Newman, president [...]
It seems to be the general consensus that Tony Hayward could be out of a job as CEO of BP once the Deepwater disasterhas finally been resolved. Apparently this because he as “antagonized” the American public to the point that he would be a liability for the company in the future. Couple this with the [...]
Anadarko, a company that is part owner of the blown oil well, has accused BP of “reckless decisions and actions” that caused the explosion and subsequent spill. Anadarko CEO Jim Hackett has said that “The mounting evidence clearly demonstrates that this tragedy was preventable and the direct result of BP’s reckless decisions and actions.” What [...]
On Thursday, BP chief executive Tony Hayward visited Capitol Hill to account for his companies involvement in the Deepwater Horizon oil spill, and furthermore to be grilled by members of congress wishing to express their outrage over the ecological disaster. Amid constant aggressive questioning, Hayward continued to maintain that he was not personally responsible for [...]
BP chief executive Tony Hayward, the man, besides perhaps Barack Obama, who is most associated with the Gulf of Mexico oil disaster, is due to be grilled by congress regarding the causes of, as well as who is to take responsibility for, the spill that has been called an “unprecedented” ecological crisis. If this fact [...]