"The stock price of BP plunged more than 15 percent Wednesday to a 14-year low as it became increasingly clear that the amount of oil spewing out of the Deepwater Horizon well is substantially greater than the company or the federal government initially estimated." BP stock opened down another 4 percent today.
As the Gulf oil spill continues to spread and become a growing concern to more parts of the US, these key tools will help you tell and illustrate the story.
As BP increased the amount of oil it siphoned to the surface from the leaking Gulf well, it became clear that the total amount leaking was greater than previously admitted.
"BP PLC's 582-page regional spill plan for the Gulf, and its 52-page, site-specific plan for the Deepwater Horizon rig are riddled with omissions and glaring errors, according to an Associated Press analysis that details how BP officials have pretty much been making it up as they go along. The lengthy plans approved by the federal government last year before BP drilled its ill-fated well vastly understate the dangers posed by an uncontrolled leak and vastly overstate the company's preparedness to deal with one."
"The government and university researchers confirmed Tuesday that plumes of dispersed oil were spreading far below the ocean surface from the leaking well in the Gulf of Mexico, raising fresh concern about the potential impact of the spill on sea life."
The changes affect only new drilling areas and may include greater consideration of environmental impacts, more public review, fewer "categorical exclusions" from environmental review, and more.
In 1981, EPA labeled the 26-acre Price's Pit landfill in New Jersey as the most serious environmental problem in the U.S. Thirty years later, a permanent remedy is just beginning and residents nearby are wondering about their long-term health problems.
"On Monday, BP said a cap was capturing 11,000 barrels of oil a day from the well. The official government estimate of the flow rate is 12,000 to 19,000 barrels a day, which means the new device should be capturing the bulk of the oil. But is it? With no consensus among experts on how much oil is pouring from the wellhead, it is difficult -- if not impossible -- to assess the containment cap’s effectiveness."
"BP, the very company responsible for the oil spill that is already the worst in U.S. history, has purchased several phrases on search engines such as Google and Yahoo so that the first result that shows up directs information seekers to the company's official website."
"Pennsylvania regulators halted work Monday at dozens of unfinished natural gas wells being drilled by the company whose out-of-control well spewed out explosive gas and polluted water for 16 hours last week."
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