7b

In my reader this week, I have been following the oil spill in the gulf. I was reading in my BP reader that BP began this weekend replacing the existing lower marine riser package. What does this mean for the gulf? It is basically the containment part of the oil spill. When all is said and done, the total volume of oil collected or flared by the containment systems is approximately 749,100 barrels. In additional information, As of July 10, almost 105,000 claims have been submitted and more than 52,000 payments have been made, totaling almost $165 million. The cost of the response to date amounts to approximately $3.5 billion, including the cost of the spill response, containment, relief well drilling, grants to the Gulf states, claims paid, and federal costs. On June 16, BP announced an agreed package of measures, including the creation of a $20 billion fund to satisfy obligations arising from the oil and gas spill.

With technology being so great, it is hard to believe that they can not completely stop the oil spill. It really just boggles my mind.

There you have it folks!!!