BP Holdings Madrid Warning News

BP Holdings Madrid Warning News

Posted in the Business News Forum

Since: Nov 12

UK

#1 Jul 1, 2013
BP Report Says Gulf Oil Spill Was Only Half As Big As Government Claims

http://www.forbes.com/sites/christopherhelman...

How much oil spilled from of BP ‘s blown out Macondo well in 2010? The government has estimated that the total came to 4.9 million barrels. But a report authored by a British engineer hired by BP has found that the total volume is more like 3.3 million. When taking into account the 800,000 barrels that BP managed to capture just as it gushed out, the government figures 4.1 million barrels actually escaped into the Gulf of Mexico. BP’s hired engineer calculated just 2.46 million barrels.

The figures come from a 209-page report by London petroleum engineer Martin J. Blunt, a professor at Imperial College in London. This is believed to be the first time that BP’s internal flow rate estimates have been made public.

The tally of barrels will be a huge factor in just how many billions of dollars BP ultimately has to fork over to satisfy Clean Water Act penalties. In the worst case scenario, if a U.S. District Court judge finds that BP was grossly negligent in causing the spill and uses the government’s spill figures, BP could be out as much as $17.6 billion. Blount’s figures would reduce that hit almost by half.

Realated:

http://www.slideshare.net/chelogaard/bp-holdi...

Since: Nov 12

UK

#2 Jul 1, 2013
We cannot point fingers and hold anyone as responsible because each and every one of us is to blame. We all use coin money, we all use copper wires and steel in our daily lives, in our cars, in our homes, in our schools. We have created a demand for these and other metals such as gold and platinum. There are still many samples and it will take many time, energy and effort just so I could enumerate them all here. So what we should do is rethink of ways on how to make better solutions for responsible mining.

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