You are here: Home » News »

BP May Re-Tap Reservoir, Citing “Lots of Oil”

08/06/2010 5:01 pm 0 comments

Source: AP / CBS

BP PLC said Friday it might someday drill again in the same undersea pocket of oil that gushed millions of gallons of its crude into the sea, crushing livelihoods and fouling beaches and wildlife habitat along hundreds of miles of Gulf of Mexico shoreline.

“There’s lots of oil and gas here,” Chief Operating Officer Doug Suttles said at a news briefing. “We’re going to have to think about what to do with that at some point.”

The vast oil reservoir beneath the blown well is still believed to hold nearly $4 billion worth of crude. With the company and its partners facing tens of billions of dollars in liabilities, the incentive to exploit the wells and the reservoir could grow.

Retired Coast Guard Adm. Thad Allen, the government’s point man on the spill, said he had no information on BP’s future plans.

To read this article in its entirety visit CBS News.

Sphere: Related Content

BP Wants To Stop Paying Gulf Oil Spill Victims

Source: AP / CBS News New Orleans - BP is arguing that most victims of last year's Gulf oil spill should ...

BP Loses Laptop With Gulf Residents’ Claims Data

Source: AP / CBS News New Orleans - A BP employee lost a laptop containing personal data belonging to thousands of ...

BP Claims Could Be Under $20 Billion

Source: Aaron Smith / CNN Money Total claims against BP could end up being less than the $20 billion the ...

BP To Accept Some Blame, But Not All

Source: Spencer Swartz / The Wall Street Journal BP PLC's report on its investigation into the Deepwater Horizon disaster will ...

Cap On BP’s Ruptured Oil Well To Be Removed

Source: CNN Crews are expected to try to remove the blowout preventer on BP's ruptured well in the Gulf of ...

BP Fund-Seekers Might Have To Waive Right To Sue

Source: Ian Urbina The New York Times / MSNBC.com Washington — People and businesses seeking a lump-sum settlement from BP’s ...

22-Mile-Long Oily Plume Found Near BP Well Site

Source: MSNBC.com A giant plume of oily water — at least 22 miles long, more than a mile wide and ...

Plumes Of Gulf Oil Spreading East On Sea Floor

Source: CNN A new report set to be released Tuesday renews concerns about the long-term environmental impact of the Gulf ...

Safe Seafood? Shrimpers Worry As Season Opens

Source: Cain Burdeau and Kevin McGill / AP / MSNBC.com Shrimpers trawling Louisiana waters Monday in the first commercial ...

Spike Lee Bashes US Report On Vanished Gulf Oil

Source: AP / Yahoo News Beverly HIlls, Calif. – Filmmaker Spike Lee is calling a "lie" a U.S. government report that ...

BP Wants To Stop Paying Gulf Oil Spill

BP Loses Laptop With Gulf Residents’ Claims Data

BP Claims Could Be Under $20 Billion

BP To Accept Some Blame, But Not All

Cap On BP’s Ruptured Oil Well To Be

BP Fund-Seekers Might Have To Waive Right To

22-Mile-Long Oily Plume Found Near BP Well Site

Plumes Of Gulf Oil Spreading East On Sea

Safe Seafood? Shrimpers Worry As Season Opens

Spike Lee Bashes US Report On Vanished Gulf

More from the Roland S. Martin Blog

Politics Washington Watch
Rep. Clyburn Pushes The Clyburn Amendment To Help The Poorest Of The Poor (VIDEO)

Rep. James Clyburn joined Roland Martin on the set of Washington Watch to discuss the Clyburn Amendment. This amendment was created to help the poorest of the poor across the United States. MR. MARTIN: Is there anything specific the President and Congress can do to target African-Americans when it comes to this high unemployment number? REP. CLYBURN: Yes, there is, and we – you’ll find it in the rule development part of the so-called “stimulus bill.” I- — was – [...]
Read more →
News
WASHINGTON WATCH: Rep. James Clyburn On Feb. Job Numbers, African-American Unemployment, Bipartisan Jobs Bill (VIDEO)

New employment numbers came out Friday showing the economy continues to recover and continues to add jobs at a pretty healthy pace. There were 233,000 private-sector jobs created in February. That’s two, solid years of private-sector job growth. The unemployment rate was steady at 8.3 percent. Black unemployment was 14.1 percent, up half a percentage point from last month. Big job gains came in healthcare, business and professional services, as well as restaurants. The jobs problem and the upcoming election [...]
Read more →
Commentary Sports
ROLAND S. MARTIN: Props To NCAA For Banning Connecticut From March Madness

By Roland S. Martin Editor-in-Chief RolandMartinReports.com March Madness is usually a wild and crazy time on the campuses of the nation’s big-time college basketball programs as fans wait in line for days for tickets to see their favorite collegiate do battle in the NCAA postseason tournament. But if you’re a Connecticut Huskie fan, you’d better hope your team can have a magical run in the Big East tourney and qualify for an automatic bid because when it’s time for [...]
Read more →
Media Politics Roland Martin On CNN Video
Getting To The Polls: Is There An Enthusiasm Gap Amongst Republican And Democratic Voters?

Donna Brazile, Roland Martin, Ari Fleischer, Erick Erickson, Jessica Yellen and Anderson Cooper analyze voter turn out and if there is an enthusiasm gap amongst the GOP and Democrats. Sphere: Related Content
Read more →
Media Politics Roland Martin On CNN Video
Gingrich Has Problems With Women Voters, They Don’t Trust Him (VIDEO)

Roland Martin, Erick Erickson, Donna Brazile, Ari Fleischer and Anderson Cooper discuss Mitt Romney, Newt Gingrich, their wives and Gingrich’s problems with women voters.
Read more →
Commentary Sports
ROLAND S. MARTIN: Football Power In Texas Has Shifted To Houston

By Roland S. Martin Editor-in-Chief RolandMartinReports.com I hate the Dallas Cowboys. No, I don’t dislike them. I flat out cannot stand anything about the Dallas Cowboys. The year they went 1-15, I was ticked they won that one game. When they played in those three Super Bowls in the ’90s, I rooted hard for the opposition. Hell, I hate them more than the Ku Klux Klan! That’s why I take great pleasure in seeing the transfer of power in the [...]
Read more →
Politics
Herman Cain Tops Mitt Romney In Latest CBS/NYT Poll

Source: Corbett B. Daly / CBS News CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto. Businessman Herman Cain is now atop the field of Republican White House hopefuls, squeaking past former Massachusetts Gov. Mitt Romney in the latest CBS News/New York Times poll. Cain garnered 25 percent support of Republican primary voters in the poll released on Tuesday, compared to Romney’s 21 percent. To read this article in its entirety [...]
Read more →
Politics
Rick Perry: Obama Birth Certificate ‘A Good Issue To Keep Alive’

Source: Luke Johnson / The Huffington Post Texas Gov. Rick Perry said the birther issue was worth “keeping alive” in a CNBC interview Tuesday morning. “It’s a good issue to keep alive. It’s fun to poke at him,” said Perry, according to host John Harwood. Perry also spoke evasively about President Barack Obama’s birth certificate in an interview with Parademagazine published over the weekend. When asked if he believed the president was born in the United States, he said, “I have no reason to think [...]
Read more →
Video
What Did You Think Of The GOP Debate? (VIDEO)

CNN’s T.J. Holmes caught up with some folks just after the Las Vegas GOP debate ended. WATCH: Sphere: Related Content
Read more →
Video
Poverty Rises For Blacks In Omaha (VIDEO)

CNN’s Thelma Gutierrez reports on the disproportionate rate of poverty among African-Americans in Omaha, Nebraska. WATCH: Sphere: Related Content
Read more →

← previous next →

Trending On RolandSMartin.com

More from the Roland S. Martin Blog