Saturday, July 10, 2010

BP Readies New Plan to Contain Oil Leak

[oilCAP.sub]
BP said in a letter to the federal government's spill recovery coordinator Friday that it would commence work on a new containment cap because there was a good weather window even though it means more oil will flow into the Gulf temporarily.


The letter came in response to Ret. Coast Guard Adm. Thad Allen's demands that BP outline its plans. BP projected it could finish the new-cap operation in five days if it doesn't encounter any unexpected hurdles. Its contingency plan puts the finish time as nine days from commencement of the work. If all goes well, the new system could stop the flow of oil into the Gulf, which has despoiled the fragile coast, rendering some fishing area off limits and soaking untold numbers of sealife in toxic crude.
However, removal of the cap in place now before another collection vessel is brought into full operation would mean significantly more oil would gush into the Gulf as work on the new containment system progresses.

Ben Casselman has details. Plus, behind the rally in stocks and World Cup Preview.
BP declined to comment on the contents of its letter.

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