Oil Spill Gulf of Mexico 2010 Update

Day 88 of the BP Gulf of Mexico Oil Spill; No Sign of Leaking Oil

Meg G.
The BP Gulf of Mexico oil spill crisis is in its 88th day, and currently there is no sign of leaking oil into the Gulf. Of course, this doesn't mean that the nightmare is over - it could mean we have only just begun. Pressure in the line isn't as high as experts expected. This could indicate that the oil reservoir is depleted after 3 long months of spewing into the water. You can also see a video which confirms that there is no oil flowing into the Gulf of Mexico.

It also could mean that there is a leak somewhere else in the line, which could make it explode causing a truly uncontrollable leak into the ocean waters of the Gulf of Mexico. This is the situation that must be avoided at all costs - even if it means allowing a portion of the oil to seep into the waters.

There is a continuing debate over whether or not offshore drilling is appropriate to continue on. "Drill Baby Drill" attitudes are colliding with clean energy activists who tout the Gulf oil spill as a prime example of why we need to give up our dependence on oil.

Without the oil from the Gulf, our nation would face big oil shortages. 30% of the production of domestic oil is from the Gulf of Mexico, which accounts for about 8% of our nation's consumption. The current moratorium is only on new exploration for oil wells - it's not going to end offshore drilling in its entirety.

The oil spill will be fixed, but it will cost BILLIONS of dollars. The effects will be felt for decades, and it will have an impact on the lives of each and every American - even if they've never set foot in the Gulf.

Source:

Associated Press

Politifacts

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

1 Comments

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  • explode?7/17/2010

    Hey Einstein, where's the oxygen going to come from to cause an explosion? Let me guess, you failed 8th grade chemistry?

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