BP oil spill update: BP places the cap over broken oil pipe

BP has put a cap over the leaking oil well. U.S. Coast Guard told that BP has made a positive attempt to control the worst oil spill in the country’s history. The cap, the latest device that has never been
used in such deep waters is expected to contain the oil out blow.
However, Coast Guard Admiral Thad Allen expressed his concern that how
this method will work and to what extent it will mitigate the release of
oil into the environment.

But, BP’s Chief Executive Officer Tony Hayward had told reporters in Houston that it will be known in 12 to 24 hours whether the plan has succeeded in limiting the gushing. And the White house authorities
called the fixing of cap to the leak as an “important milestone.”

BP, the London-based company has used shears to fix the leak after a
diamond-saw blade was got stuck. The diamond-saw blade was used to cut
and make a tighter fit for the cap.

While, the worst ever spill has affected at least 140 miles of coastline
and it has blocked drilling in the Gulf and closed a third of its
fishing areas. But the officials did not disclose the current estimated
volume of the spill. According to its computer modeling, The National
Center for Atmospheric Research has estimated that oil from the spill
may reach Florida’s Atlantic Coast within weeks and may move towards
North Cape Hatteras and North Carolina. However, President Obama will be
back to Louisiana coast today to a****s the latest efforts to counter
the spill.

Meanwhile BP has been billed $69 million by the U.S. government for
cleanup efforts. And it has big flow in the market also as its shares
have fallen 34 percent since the Deepwater Horizon rig exploded.