Disasters

"Estimate of Spilled Oil Goes Up, and BP Stock Price Goes Down"

"The stock price of BP plunged more than 15 percent Wednesday to a 14-year low as it became increasingly clear that the amount of oil spewing out of the Deepwater Horizon well is substantially greater than the company or the federal government initially estimated." BP stock opened down another 4 percent today.

Source: Wash Post, 06/10/2010

"AP IMPACT: BP Spill Response Plans Severely Flawed"

"BP PLC's 582-page regional spill plan for the Gulf, and its 52-page, site-specific plan for the Deepwater Horizon rig are riddled with omissions and glaring errors, according to an Associated Press analysis that details how BP officials have pretty much been making it up as they go along. The lengthy plans approved by the federal government last year before BP drilled its ill-fated well vastly understate the dangers posed by an uncontrolled leak and vastly overstate the company's preparedness to deal with one."

Source: AP, 06/09/2010

"Rate of Oil Leak, Still Not Clear, Puts Doubt on BP"

"On Monday, BP said a cap was capturing 11,000 barrels of oil a day from the well. The official government estimate of the flow rate is 12,000 to 19,000 barrels a day, which means the new device should be capturing the bulk of the oil. But is it? With no consensus among experts on how much oil is pouring from the wellhead, it is difficult -- if not impossible -- to assess the containment cap’s effectiveness."

Source: NYTimes, 06/08/2010

Pages

Subscribe to RSS - Disasters