A drilling moratorium seemed inevitable following the oil spill within the Gulf of Mexico 2010. The drilling ban has been loudly criticized by the oil industry. But the drilling moratorium could eventually be canceled due to the cooperative effort of four oil companies. A rapid oil spill response system is being funded by $1 billion committed by Exxon Mobil, Chevron, ConocoPhillips and Royal Dutch Shell. Meanwhile, a procedure called a “static kill” could be attempted by BP that could permanently plug the ruptured well this weekend. But the procedure may be postponed by an approaching tropical storm.
Deep water oil spill response system
The oil industry got a loud wakeup call from the oil spill within the Gulf of Mexico 2010 and also the drilling moratorium. While it has poured billions of dollars drilling for oil in ever-deeper waters, oil spill-response and cleanup technology has not advanced much in decades. The New York Times reports that the first $1 billion can be spent developing the equipment for underwater systems to contain deep water well accidents. Participating oil companies expect the system will be able to operate as deep as 10,000 feet and capture 100,000 barrels of oil a day.
Oil companies expect system will end drilling moratorium
The oil spill response initiative is the oil companies’ best hope to get the six month ban on deep water drilling lifted as soon as possible. The Wall Street Journal reports that the system resembles the one developed by BP during 3 months of trial and error following the Deepwater Horizon exploded April 20 . The Marine Well Containment Business is a non-profit venture set up to develop the system, which could be ready to deploy within 18 months.
Approaching storms increase urgency of oil spill containment
A procedure called a “static kill” could permanently seal the BP oil leak this weekend. CNN reports that the static kill involves pumping mud into the well to force oil back to the reservoir below. Officials from BP have said the “static kill” option could succeed where similar attempts have failed because pressure in the well is lower than expected. Meantime, work on the relief well that is intended to be the permanent fix at the end of the month continues. Time is of the essence, because a tropical storm heading to the gulf from the Caribbean could disrupt operations for 10 to 14 days.
Citations
nytimes.com
wsj.com
cnn.com
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