Wednesday, June 16, 2010
The sheer volume of oil being released into the Gulf of Mexico each day is far greater than either BP or the Obama administration initially estimated.
According to numbers released by a government panel on Tuesday as much as 60,000 barrels a day could be spewing into the Gulf. This is roughly 2.5 million gallons of oil a day, a staggering amount equal to one Exxon Valdez spill every four days.
BP is capturing only 15,000 barrels a day.
The newly revised estimate is far worse than the 5,000 barrels a day that the Obama administration and BP reported in the weeks following the April 20th oil rig explosion which killed eleven workers.
In other news, BP agreed today to set aside $20 billion dollars in an escrow account to pay damage claims to people and business who live in the Gulf region.