Gulf of Mexico Oil Spill - 2010 July Updates

There is Currently Seepage from the Gulf of Mexico Oil Spill Site...What Does that Mean?

Meg G.
The Gulf of Mexico oil spill was contained at least temporarily last week when an oil cap was placed on the leaking well. This was great and welcomed news for the Gulf region who has been sweating it out ever since the oil spill started around April 20th when the Deepwater Horizon rig exploded. The aftermath has lead to over 90 days of oil spilling into the once pristine waters of the Gulf.

The containment cap is still a temporary fix and it's still uncertain how the fix will hold up in the event of a hurricane. This is why it is absolutely necessary to complete work on the relief wells so that the leaking well can be permanently sealed.

Many grew anxious last week when it was announced that testing on the oil cap would be suspended and also the drilling on the relief wells would be suspended. The suspension of testing only took place so that engineers could make sure that the wellhead would withstand the pressure contained by the BP Oil Spill.

Now, there are indications of some form of seepage from the Gulf oil spill area. According to the Washington Post, "Given that there is apparent seepage it's currently unknown whether the source is a broken casing or whether the seepage comes outside the well casing from the reservoir itself. A potential remedy is to use the relief well to cement both inside and outside the well casing in hopes of stopping any flow. The probability of success is uncertain but it's still the best option for now."

Many are holding on, praying that something will be able to be placed permanently to stop the spilling well. There are a lot of variables that could affect recent successes - from weather to further damage along the line carrying the oil.

Even though work continues on the relief wells, they still are not completed. These are dubbed the best way to seal the well, and it's also not 100% certain that this will work as planned.

Still yet, everyone is sweating it at this point. According to the Associated Press, the waters are looking better, as "Only a colorful sheen and a few long streams of rust-colored, weathered oil were apparent in an area covered weeks earlier by huge patches of black crude." This is promising.

Even when a permanent stop is in place, there's still a long way to go before the region can honestly say that they are back to a normal way of life. Hopefully the spill will be cleaned up and allow the seafood industry to once again flourish and also leave the beaches relatively unscathed.

Source:

Washington Post
The Associated Press: "Some oil spill events from Sunday, July 18 2010"

Published by Meg G.

Meg G. is a financial professional. During her previous life, she ran a contracting business with her husband. Now, she likes to share late breaking news, financial advice, and do-it-yourself tips with her d...  View profile

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