Posted on 06/28/2010 12:43:07 PM PDT by La Enchiladita
With each day that passes, the rate at which BP is spending money on the Gulf of Mexico oil spill grows.
The company said Monday it has now spent $2.65 billion on its operations in the Gulf, a rate of $100 million per day over the last three days. [Read the press statement here.]
This figure has grown steadily since the spill began. In late April, when the oil flow from the leaking Macondo well was thought to be just 1,000 barrels a day, BP was spending just $6 million a day and had deployed just 275 vessels to skim oil from the surface of the Gulf. By early June the rate of spend had grown to around $40 million a day, 2,600 vessels were skimming oil and increasingly elaborate methods were being deployed subsea to attempt to cap the well.
Over the weekend, as spending hit $100 million a day, the number of vessels helping with the clean-up had grown to 5,000 and a flotilla of expensive drill ships gathered on the surface far above the well head, as BP implemented plans to capture 90% of the leaking oil and continued drilling two relief wells.
(Excerpt) Read more at blogs.wsj.com ...
A good leader would be helping the Gulf and BP get back to prosperity. Not our socialist leader.
BTTT
If BP goes belly up (which is certainly a possibility) the entire Gulf Region is, as the late George Carlin would say, at the “St. Louis Home for the totally f - - - -d!!
“A good leader would be helping the Gulf and BP get back to prosperity.”
Oh, you mean like our government used our tax dollars and credit to help the Banks, Wall Street and GM get back to prosperity?
Or are you talking about some other type of Socialism where you want to see the Federal Government step in and save BP with tax payer dollars?
Looks like BP’s gamble of attempting to save a million dollars on April 20th did not pay off.
That’s the gist of the article. BP is running scared. This has opened them to fraudulent claims from some of the clean-up “helpers:” http://www.guardian.co.uk/business/2010/jun/24/bp-cleanup-contractors-pay-fraud
How can they spend so much money and not suck up any oil with all of the waiting tankers being safety checked by the EPA and the Coast Guard?
Out of $100 million per day, you’d think a liitle of that money could buy some life preservers to get the tankers out of hock.
“Looks like BP’s gamble of attempting to save a million dollars on April 20th did not pay off.”
Post of the day, but wait, there’s more:
Think of all the regulation they have brought down not just on themselves, but every other energy producer. They have given the government the excuses they need to have all of us living my firelight in the coming years, at least when the wind ain’t blowing and sun ain’t shining.
I suppose you prefer the type of fascism where the Federal Government steps in and takes billions from a private company thru fiat?
I never said the Federal Gov't should provide BP money either. Stop putting words in my mouth. There's many, many ways to promote prosperity other than subsidies.
I’m sure you don’t want to sound like you support this administration’s stance of punishing big business but that’s what it looks like.
A side effect of this, though, is that the “small people” are being punished too as they lose their livelihoods. The U.S. government does have jurisdiction over the waters in question and, therefore, a responsibility.
They have played a role in sandbagging some of the better private efforts to help.
“I never said the Federal Gov’t should provide BP money either.”
Well then, how to you suggest that the cost of the entire Gulf clean-up, the rehabilitation of the Louisiana wetlands and the lost income of all those people and businesses along the Gulf Coast is financed?
Should BP pay the cost, the American tax payer or some other entity?
Who is it that you believe should be paying to return the Gulf and its coastal areas to conditions prior to 4/20/10 and to provide money to those who lost who lost business and work income due to the oil spill?
before this is over BP will be bankrupt and the taxpayer will be stuck with the cleanup. In other words, BP will do to the US taxpayer what they did to GM bondholders.
BP should pay, and they are paying. They have said they will pay the entire cleanup cost and pay claims for lost income, damage, etc. I have seen no hesitation at all on BP’s part for taking responsibility for this.
The government can help in other ways though, such as waiving the Jones act and allowing ships from other countries to come in and help with removing the oil. They can bring in more skimmers, more people, more boats. The government is certainly not doing everything they can to help BP minimize the damage or their cost. In that way, they are indeed punishing BP and in my opinion, trying to bankrupt them.
But aren’t they too big to fail?
It has been publicized that the Gov't was LAX in maintaining standards which is why the head of MMS was fired.
Well, if the Gov't messed up then they SHOULD carry some of the cost. This is not socialism. If the Gov't is setting standards where drilling in SAFER locations is not allowed, then the Gov't should be liable when accidents happen because of stupid regulation. BP should, of course, carry some of the cost as well, but if they are losing $100 million a day soon the money will just not be there.
In addition, there are courts thru which the Gulf states can work through to recover monies lost which would be a more just way than thru dictates from on high from a socialist Gov't which loves to wreck Western prosperity via attacks on energy companies.
And how much would it have cost to dig ONE well in Alaska?
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