-- Posted Friday, 28 May 2010 | Digg This Article | | Source: GoldSeek.com
Rick’s Picks
Friday, May 28, 2010
“Phenomenally accurate forecasts”
We may all be breathing a sigh of relief by the time you read this, but it remained uncertain at press time whether British Petroleum’s efforts to plug a massive oil leak in the Gulf of Mexico would succeed. Earlier in the day, the company began pumping a heavy fluid called “mud” into the damaged well, but the process was temporarily halted because the high-powered flow of oil and gas from the well was causing too much of the mud to escape.BP said such delays had been expected but that they hoped to resume the sealing operation by late tonight.The effort came amidst reports that oil has been gushing from the well at a rate much greater than what BP had first estimated. The company originally said that about 5,000 barrels of oil were escaping per day, but the latest estimates suggest that the true number is somewhere between 12,000 and 19,000 barrels. Converted into gallons, that implies that as much as 760,000 gallons of oil per day are flowing into the Gulf.
Last week, we linked at Rick’s Picks a very scary article from rense.com that said the “top kill” procedure being used to plug the well was the world’s last hope to get the disaster under control.The author, who sounded like he knew a thing or two about drilling platforms, explained that abrasive material contained in the gushing oil could eventually widen the well-hole so that virtually unlimited quantities of oil and explosive methane would be released into the water and atmosphere. We would strongly suggest that you read the article to understand what is at stake if BP’s effort fails. The only alternative at that point would be to drill an additional well to relieve the pressure.This procedure is already under way, but it will still take another two months to complete. During that time, nature could take a catastrophic course on its own, according to the author, who was identified only by the initials “SHR”.If BP reports that the “top kill” attempt has failed, it will be grave news indeed for Planet Earth.
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