Gulf of Mexico oil spill worse than expected
A number of experts have stepped forward to suggest that initial indications regarding the amount of oil flowing from the damaged BP pipeline could be wrong, with as much as 40,000 barrels a day entering the sea, which is twice the initial forecast by BP. Experts believe that the company failed to realise the extent of the damage to the pipeline in the early days and as such the response may well have been different if the "real figures" were known.
This is not only becoming a major problem for BP but there is now political friction between the US government and the UK authorities with Pres. Obama and David Cameron expected to talk over the weekend. It will be interesting to see whether David Cameron steps up to the mark to defend BP and British interests because many believe he has been too slow to step forward in support of the UK.
There is no doubt that mistakes have been made with regards to the Gulf of Mexico oil spill but there is also no doubt that the US authorities have been very "hands-on" with regards to oil exploration licences in the past. Time will tell whether this particular issue will change the structure of the oil industry going forward.
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