Has BP’s top kill already failed? Waiting for after Obama Gulf tour to announce?

oh boy. Sounds like BP knows Top Kill failed and they are waiting for Obama to finish touring the Gulf before they let us know Saturday a.m. that it failed and that we have to wait til AUGUST to stop the leaking…God Bless the Gulf Coast

NakedCapitalism:

(…)BP stopped pumping “mud” for more than 16 hours (the material gushing out of the leaking riser didn’t stop during that time).

Basically, BP has failed in trying to drive enough “mud” down the well to provide enough weight to tamp down the oil gushing out. It didn’t work.

Indeed, BP’s “re-starting” Top Kill really means that Top Kill Version 1.0 was tried and failed, and now BP will try Top Kill Version 2.0 – adding “junk” to the mix.

Unless BP can get very lucky and plug the holes with miscellaneous junk, Top Kill 2.0 won’t be any more effective than Operation Sombrero.

As the Guardian explains:

Doug Suttles, BP’s chief operating officer, insisted that the operation was going to plan, but admitted: “What we do know is that we have not yet stopped the flow.”

He said BP engineers would soon use additional materials to try to plug the well, suggesting heavy mud deployed so far would not work on its own.

And the Guardian’s oil spill blog (a great resource which I just discovered) notes:

6pm CDT: Doug Suttles makes an appearance on CNN ….

Asked by CNN what had happened, Suttles said: “Too much of the mud is exiting the riser as opposed to going down the well bore.” This could be fixed in several ways, including the infamous “junk shot”, using a more viscous mud type, or finally restarting pumping at very high rates.

***

7.30pm CDT: The Washington Post has more details on BP’s stop-start top kill process, and mentions that BP is considering a “junk shot” tonight:

Doug Suttles, BP’s chief operating officer, said that on Wednesday the company had blasted high-pressure mud into the leaking well two times, trying to force the oil down in a procedure compared to using one firehose against another.

After doing it twice, Suttles said, the company stopped about midnight Wednesday, and spent Thursday assessing the plumes still shooting out of broken machinery. He said that company officials believed the two efforts had probably made some progress.

“I think some people believe it has. Some people believe it’s less obvious it has,” Suttles said. “What we do believe we’ve done is successfully pumped some mud, some of this drilling mud, into this wellbore.”

But, Suttles said, oil was still coming out, despite these efforts: “What we do know is that we have not yet stopped the flow.”

He said the company would try the procedure again Thursday evening and might add chunkier debris such as rubber balls to the mix in hopes of clogging the leaking pipe. That procedure is known as a “junk shot.”

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May 28, 2010. Tags: , , , , , , . Economy, Obama Administration, Politics, Popular Culture, Unemployment Statistics. 1 comment.

Update: The Rickster: Market Mover Thursday: Weekly Jobless Claims…continuing claims rise to 6.662 million…

Heeeere’s Rickster, telling it like it is:Vodpod videos no longer available.

Data is in, weekly slightly lower but the continuing claims are still climbing:

Rick Santelli had a great segment this morning on this BS rally built on absolutely nothing, will get it up asap…

CNBC:

The number of U.S. workers filing new claims for jobless aid fell 12,000 last week, Labor Department data showed on Thursday, while so-called continued claims rose to a fresh record as the recession battered employment.

Initial claims for state unemployment insurance benefits declined to a seasonally adjusted 631,000 in the week ended May 16 from a revised 643,000 the prior week, the Labor Department said…

..The number of people staying on the benefits roll after drawing an initial week of aid increased by 75,000 to a more-then-forecast 6.662 million in the week ended May 9, the most recent week for which data is available. Analysts estimated so-called continued claims would be 6.65 million..

May 21, 2009. Tags: , , , , . Economy, Labor Department, Music, Politics, Uncategorized, Unemployment Statistics, Wall St. Comments off.

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