Oil spill- Bp caps the oil leak

by: funso Oke
       It was a good news soon we found out that Bp was able to stop the oil gushing out the the Golf of Mexico, It took almost 3 months to do it but finally Bp got it right, and this is a good news for the presidential office of president Barack Obama. Mr president has been criticized of not putting enough pressure on bp as a result many people questioned his leadership as the head of state. With a nation of many opinions it will be hard for anyone to deal with a situation like this, even a minor home plumbing takes days to deal with but, here bp had a situation  of a plumbing gone wrong in a deep Golf of Mexico where the oil drilling was taking place. The implanted pipe and well that was suppose to contain the oil being drilled from beneath the golf busted and it cost the major oil leakage that we have ever seen in a long time. As a result it disrupted many businesses, that has its business source from the Golf of Mexico. Many livestock were affected as well, soon we learned that the new cap placed my bp stopped the leak, it was a great relief to every one, at least we know our shore and beaches are safe from crude poisoning.  Bp announced that the newly placed cap will undergo some pressure test later in the night to ensure that it will work for quite a while, at least the cap was expected to hold the oil pressure till sometimes late  august while a relief well is been drilled to collect all the oil. We expect the news to help bp stock price to raise.

BP damage Claim

Bp has set aside 20 billion dollars to settle any claims due to damages caused by the oil leak, with millions of business that are affected, many fisher men, lobster fishing farmers, cruise boats etc, many of these businesses are loosing thousands of money daily when they are not operating, they have equipment rent expenses, they are purchased goods are rendered useless, no income to pay employees, loss of jobs etc. Will the  20 billion compensation funds be enough to cover all damage expenses? last report about the business affected on cnbc news station has reported that many of these businesses that filled claims are not satisfied as Bp was unable to grant them enough funds to cover the debt they have acquired.