Cautious. Not necessarily optimistic.
Apparently, BP has stopped the leak. Well the leak on the valve that is… recent reports have indicated that a “seep” has been located on the ocean floor near the well. The seep could mean one of two things: we have a environmental disaster on our hands that would be near impossible to contain or control, or the seep is a natural occurrence that is little cause for alarm.
The ocean floor seep was suspected when pressure on the valve cap was lower than expected, raising concern there was a leak somewhere else in the well bore; if this the case, the valve cap will have to be reopened to prevent complete environmental annihilation and will create a situation extremely difficult to fix. And underground leak could let oil and gas escape uncontrolled through the bedrock and mud under the ocean’s surface.
The most concerning of all, for me, is that BP has an interest in keeping the valve cap closed until the relief well is completed. If the valves are reopened, 100% of the oil will be captured by ships on the surface, allowing the oil flow to be measured, a number on which government fines will be based. But if BP keeps the valves shut, the fine will have to be based on previous estimates which were most likely lower than the real number. I’d bet the farm that BP is willing to take that little risk.
