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Friday, July 02, 2010

BP Spill Developments

1. Live video of the LMRP cap shows it loose and bobbing. This could be the result of wind and sea action topside or it could be that the thing is getting ready to come apart. BP has been asking a lot of that cap. As a result of the cap's wavering, collection and flaring of oil and gas have been reduced. Hopefully, when wind and seas calm down the thing will settle into place more securely. If not, we can expect the leak to worsen considerably.

2. The E.P.A. has issued a new directive to BP about waste management. I have no idea what this directive entails but I'm sure it includes a ton of bureaucratic gobbledygook that won't help clean up the Gulf.

3. The House of Reprehensibles passed legislation removing the cap on financial damages that oil companies or other energy providers would have to pay in the event of an accident. I'm all for punishing these Darth Vader corporations but if there are no caps on damages how will these companies get insurance? If they can't get insurance, how will they be able to hire workers to look for oil? If they can't look for oil, how will we get gasoline or heat our houses? Oh well, I was always a big proponent of the horse and buggy and I'll be the first to welcome back the age of sail.

~seabgb

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