BP - The Oil Spill Clock is Ticking.

From Wikipedia:

The Deepwater Horizon oil spill (also referred as BP oil spill,^[5] Gulf of Mexico oil spill, and Macondo blowout) is a massive ongoing oil spill and oil gusher in the Gulf of Mexico that started on April 20, 2010. The spill followed a blowout that caused an explosion on the Deepwater Horizon offshore drilling rig, which then sank off the coast of Louisiana.^[2] Eleven rig workers are missing and presumed dead; the explosion also injured 17 others.
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BP has fabricated a containment tank to seal the oil leak in the bottom of the Gulf of Mexico. This attempt failed, because of an ice slush formation that disallowed flow to a recovery vessel.

 The oil spill is huge,  and an explosion that finally sunk the oil rig.

MSN Money has reported: "BP’s current liability for the massive oil spill is capped by law at $75 million. Senator Robert Menendez (a Democrat from New Jersey) has other ideas, however: He is co-sponsoring a measure that would lift the liability limit to $10 billion -- yes, that’s with a ‘b’ -- and would do so retroactively, so it could apply to the April 20 spill."      

This was an unprecedented event.  


I watched the House and Senate hearings, who questioned BP,  
Transocean Ltd, and Halliburton officials.  This is a very technical industry, I do think the congress subcommittees is out of the league here.  Think about this.  If BP does not know what is going on, how can the House or the Senate know anything about what happened.




I do not think BP has  a clue how this happened.  Whats worst, BP does not seem to have a clue how to stop this spill.  

I predict,  many people are "out for blood". Including Senators and  members of the House. All the coastal states that are affected by this spill will sue. Fishermen, hotel chains, beach communities will sue. There will be a long list.  No one will truly win, accept maybe the lawyers.