British Petroleum Says Blown-Out Gulf Well Is in ‘Static Condition’!
Posted By thestatedtruth.com on August 4, 2010
Well plugged…..Let’s hope so.Â
ON THE GULF OF MEXICO — In a significant step toward stopping the worst offshore oil spill in U.S. history, BP said Wednesday mud that was forced down its blown-out well was holding back the flow of crude in the Gulf of Mexico and it was in a “static condition.”
There is a new “hard†estimate on the amount of oil that was leaked. The number is 205,800,000 gallons. That is 4.9mm brls. If you applied a fine of $4,300 per brl., it comes to $21b.
There will be a fine. Using the $4,300 number may be overstating things. But there is no reason to expect the Administration to be lenient either. A slap on the wrist is the most unlikely outcome.
Say it is $20b. There is another $10b that has been committed. And then there are the direct costs. It could get to $40b.
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