BP plc’s (NYSE: NBP) plan to pump heavy mud into the leak caused by the Deepwater Horizon disaster, known as “top kill” appears to have failed. The oil company had hoped that the project, begun two days ago, would stanch the flow of crude that began 40 days, and has become the largest oil spill catastrophe in US history. By many estimates the leak is now producing 25,000 barrels a day.
The COO of BP announced late in the day that the procedure had not worked. It is not clear what else the company can do beyond drilling relief wells which could take 60 to 90 days. And, if that does not work, nature will have to take it time as the current source of oil empties itself–which could take months or ever years. The Gulf of Mexico would become the home to the largest oil slick in history, one that would takes years to clean up
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
