Monday, July 19, 2010
Seep Could Spell Trouble for Gulf!
So it looks like BP has detected leakage near the oil spill site just three days after they supposedly plugged the hole. This means that the oil well itself maybe dysfunctional. It's very possible that Matt Simmons was right and that the wall of the well has been compromised. Simmons argued that the oil spill site was too small to explain the large amount of oil leaking into the Gulf of Mexico. Simmons is the founder and chairman emeritus of Simmons & Company International. He's also an advocate of the Peak Oil theory. Whether you believe in Peak Oil or not, the facts about this well are hard to ignore. The pressure is the well is not as high as it should be and there is something wrong with the well. It the oil well is damaged, BP's options could be very limited. The problem with a damaged well is that once you have a crack at those extreme depths, the pressure will expand the crack and make the leak worse by the day.
Read more about it...