Friday, August 6, 2010

BP wants to drill in Gulf again

They don't have much shame, do they?

BP PLC (BP-N41.330.651.60%) said Friday it might someday drill again into the same lucrative undersea pocket of oil that spilled millions of gallons of crude, wrecked livelihoods and fouled beaches along the Gulf of Mexico.

“There's lots of oil and gas here,” chief operating officer Doug Suttles said at a news briefing. “We're going to have to think about what to do with that at some point.”

The vast oil reservoir beneath the blown well is still believed to hold nearly $4 billion worth of crude, and until Friday BP had not indicated any plans to cash in on that potential windfall. With the company and its partners facing tens of billions of dollars in liabilities, the incentive to exploit the wells and the reservoir could grow.

From the Globe. So it seems they need that oil... so they can pay for the mess they made drilling for oil in the same darn place. Does that make sense?


Ixion said...

There's no such thing as pride when that much money is on the line.

The only spoiler here is whether the US Govt. decides to pull BP's exclusive licence to drill in the Gulf and give it to some other corporation.

One way or the other, someone’s going to drill there.

nitroglycol said...

Oh, I'm not surprised that they want to drill there again; indeed I'd be shocked if the didn't. You'd think, though, that one of their PR consultants would have advised them against talking to the press about wanting to do so.