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Story Archives: When will oil stop flowing?


When will oil stop flowing?
posted Thursday, June 24th, 2010 @ 1:01 pmE-mail Story E-mail Story | Print Story Print Story 
Word on the street is that the reason the oil continues to flow in the Gulf is because BP wants to recover the oil from one of the most significant oil finds in history. Could it be that the $20 billion set aside for loss claims by BP is nothing in the scheme of the annual income that a functioning well could produce...$230 billion yearly is a "guesstimation" by some in the know.

Wells can have a life of just say five years and do the math. According to a University of California scientist, Ira Leifer, the cut and capped pipe led to a free flowing pipe that is releasing 100,000 barrels daily, not the 15,000 a day estimate released by BP. What is the name of the game we are playing here? We are so horrified about our Louisiana wildlife, wetlands, fishermen and merchants who are suffering due to this disaster. The new BP relief wells are not to be completed until August. That saves BP so that they finally access the oil.

BP is supposed to pay $3,000 per barrel of oil which should be incentive enough to stop the spillage problem.
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