Title:Oil Spill's Blow to BP's Image May Eclipse Costs
Author:Clifford Krauss
Date Published:April 29, 2010
Source:The New York Times
Weblink:http://www.nytimes.com/2010/04/30/business/30bp.html
Summary:This article discusses the problems that the Gulf Coast oil spill has caused BP oil's image. This spill potentially can cause the company hundreds of millions of dollars, even eventually trumping the 1989 Exxon Valdez spill that cost Exxon Mobil more than $4.3 billion. Not only will BP's owner, Tony Hayward, have to pay for compensatory payments, his company will have to deal with longterm consequences. This article speaks of the lawsuit against BP and the company Transocean, also responsible, and what they will need to do in order to turn around the plummeting company that has, since the spill, dropped 7.5% and who pays around $6 million a day.
Title:BP's Oil Spill 'Hive' Buzzes With New Ideas to Stop Leaky Well
Author:Stanley Reed
Date Published:May 08, 2010
Source:Bloomberg Businesseeek
Weblink:http://www.businessweek.com/news/2010-05-08/bp-s-oil-spill-hive-buzzes-with-new-ideas-to-stop-leaky-well.html
Summary:This article discusses what the BP's crew is planning on performing to stop the leaking oil from the Gulf Cost well spill on April 20th. They have recently put a 40 foot-high dome over the oil that will contain about 85% of the flow. There will then be a mile long pipe to controllably extract the oil to the surface. They are also trying to block the pipe using anything, like golf balls and other debris, to prevent oil from rising. The company has also tried to temporarily fix the three parts of the leaking pipe. By covering the existing pipe with another bigger pipe, they can run antifreeze and sea water around to freeze the pipes. The most effective attempt, however, is the use of robotic machinery, which have recently installed a valve, that has stopped one of the three leaks. The last plan is to permanently build a relief well that will intersect the existing, leaking well and be used to insert cement to forever plug the well. This is, however, said to take as long as 3 months.
Title:Obama Under Fire as Oil Spill Crisis Continues
Author:Craig McMurtrie
Date Published:May 17, 2010
Source:ABC News
Weblink:http://www.abc.net.au/news/stories/2010/05/17/2901160.htm?section=world
Summary:This article talks about the criticism of Obama for his actions towards the BP oil spill. Obama began to criticize the two companies, Transocean and BP about their irresponsibility with their oil well. This contradicts Obama's actions, where he has blamed Bush for the government's slow reaction to the spill. It took Obama 3 days to downplay the spill, 9 days to talk about it publicly, and 2 weeks to actually get to the site. This spill is a natural disaster that is testing Obama's true worth.
Title:Gulf Oil Spill Isn't Just Damaging to BP
Author:James Herron
Date Published:May 17, 2010
Source:The Wall Street Journal
Weblink:http://blogs.wsj.com/source/2010/05/17/gulf-oil-spill-isnt-just-damaging-to-bp/
Summary:Not only does the Deepwater Horizon oil spill affect the BP oil company, the entire oil industry is suffering. Plans such as Shell's new idea to drill near Alaska are being deferred and not signed until the BP spill is solved. Also, Obama is posing higher and tougher regulations for oil companies in the future that will cots the oil industry. Thus, the BP oil disaster will cost them millions in environmental and economic damage, as well as will severely limit the oil industry in the future.
Title: A Month In, Outrage of Gulf Spill Grows
Author:Kevin McGill and Vicki Smith
Date Published:May 21, 2010
Source:The Associated Press
Weblink:http://www.google.com/hostednews/ap/article/ALeqM5gIXWYBTpLtSay Jtg41LKXpxSxVPAD9FR7DN80
Summary: This article discusses the deep outrage of locals and Americans due to the BP oil spill and the lack of action towards the solution. It took BP a month to create one solution that only works to contain 5% of the oil. The next solution is said to be finished in 3 months, meaning that oil will be leaking until August. On Louisiana shores, it has only been sheen oil and tar balls coming up on the shores, however, in the marshes off shore, a paint-like texture of oil is blanketing habitats. This article highlights the rage in people due to the late recognition of this massive disaster. Scientists believe that this spill will be far worse than the Exxon Valdez spill in 1989. The BP disaster has already leaked 6 million gallons of oil, which is more than half the amount of oil spilled in 1989. These marshes are only witnessing a touch of the oil's hard hit soon to come.
Live footage of one BP oil leak
Only a couple of seconds of this video and the effect is the same...
