With government estimates for daily oil leakage upped to as much as 40,000 barrels a day and BP plc (NYSE: BP) claims only capturing about 15,000 barrels, the rush to drill relief wells has become more important.
According to the NOAA,
Work on the first relief well continues and has currently reached a depth of 13,978 feet. The second relief well is at 8,576 feet. The target depth for the wells is around 18,000 ft which should be reached in August. The relief wells should stop any remaining oil and gas flow from the well into the Gulf of Mexico.
But, the slick is spreading rapidly and threatens a longer part of the coast of Florida.In the nearshore zone, onshore (SE/SSE) winds are forecast to continue through Friday at 10 knots or less. Persistent southwesterly winds last week resulted in northward movement of the oil towards the Mississippi/Alabama barrier islands and westward movement along the Florida Panhandle
BP’s chairman meets with Obama on the 16th and UK PM Cameron plans to talk with the US president to tell him to call off the bad PR dogs that have turned American public opinion against the huge oil. Good luck
Douglas A. McIntyre
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