OK, So Now We Know The New Gulf Oil “Fix” Isn’t Doing Jack

So this weekend, BP successfully inserted a catheter into the leak at the Deepwater Horizon, marking the first time there’s been any progress in stemming the disaster.

So how much of a success is this?

Well, according to a BP exec quoted by Platts, the tube is collecting mover then 1,000 b/d, which probably means somewhere in the range of 1001-1002 b/d.

Basically, this is a drop in the bucket.

At the low end of estimates, that’s 20% fo the daily flow (which some have estimated at 5,000 b/d). At the other end, it’s just a tiny fraction of the 70,000 b/d that could be flowing into the gulf.

We’re not sure if this is a baseline and if this could collect more, but for now, this situation is nowhere near solved.

Read more: http://www.businessinsider.com/ok-so-now-we-know-the-new-gulf-oil-fix-isnt-doing-jack-2010-5#ixzz0oKZZ5X94