BP Oil Spill Update

As the public grows increasingly alarmed at the environmental dangers posed by the oil spill in the Gulf of Mexico, British Petroleum officials are preparing to try a procedure that’s never been performed. BP will attempt dropping a 98 ton steel container over the oil spill in order to funnel the oil to a ship, the Deepwater Enterprise. BP officials concede the operation may not work since its never been attempted in deep water. The container and dome are to be placed over the well’s leaking riser pipe 1,500 meters underwater, capturing a mixture of oil and water that will be separated once funneled onto the ship.
In the meantime, the oil from the BP spill continues to migrate toward Gulf coast communities in Mississippi, Louisiana, and the Panhandle of Florida.
Yesterday, BP CEO Tony Hayward informed US Senator Bill Nelson (D-FL) that the economic impact would clearly top the $75 million cap imposed on oil companies after the 1989 Exxon Valdez spill.
Attorneys General from 5 Gulf Coast states are drafting a letter to BP officials demanding clarification concerning company statements that it will pay for “legitimate” claims. As the environmental disaster continues, Gulf Coast fishermen are preparing for the worst. Many will suffer a devastating economic loss due to the oil spill.