BP keeps lowballing Oil spill estimates

[Puppycow]

Was BP covered for this by underwriters?

They self-insure. Not unreasonable as they probably have more money than most mere insurance companies.

 

[Puppycow]

Estimates of Oil Flow Into Gulf Jump Higher

A government panel raised its estimate of the flow rate from BP’s damaged well yet again on Tuesday, declaring that as much as 60,000 barrels a day could be gushing into the Gulf of Mexico.

Live spillcam videos (multiple angles)

 

[bit_pattern]

US may fight Gulf oil spill for years, says Obama

 

[BenBurch]

Obama was pretty clear that he would be making demands on BP for money that would be out of their hands as a sort of escrow for this thing.

Of course they could say "no." But if they did, not only would the whole apparatus of government come down on them like a ton of bricks, but the public backlash would make what we have seen to date look like mild dissatisfaction.

And he is right about years; Shellfish will not be edible for a generation, for example.

 

[Without Rights]

So, the amount of oil being captured is now up to 15,000 bbl/day and it's still not all of it.

CNN reports at least 35000 and as much as 60,000 barrels per day.

http://www.cnn.com/2010/US/06/15/oil.spill.disaster/index.html?hpt=T1&iref=BN1