BP Gulf well pretty much sealed up

The defective, 300 ton blow-out preventer was pulled yesterday and replaced with a working one. A permanent bottom plug will be put in next week, but that’s just belt and suspenders – this sucker’s dead. As I’ve said before, BP’s management blew this one, and the company’s shareholders will lose billions of dollars, far in excess of whatever cost savings the management sought by cutting corners, but the engineers did an incredible job solving the problem – I am awed.

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One response to “BP Gulf well pretty much sealed up

  1. Priapus

    In two years, it’ll be an asterisk. Dividend will come back, bankruptcy is off table, Oqaedas foot is off the throat, and whatever payments will be over 20 years. Buy the stock, before the Chinese do. Silly, Rham wagged the dog while Rome burned. Joke.