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BP Oil Spill

The BP oil spill, also known as the Deepwater Horizon spill, occurred in late April 2010 when a oil well exploded in the Gulf of Mexico and killed 11 people. The disastrous spill gushed millions of gallons of oil into the Gulf and is considered an environmental catastrophe and one of the worst offshore oil spills in U.S. history.

887 Questions

Who is BP?

BP = British Petroleum, an oil company

When was the oil in the Gulf of Mexico formed?

Well, it hasn't finished forming but it started millions of years ago.... most of it's formed though... into a usable stuff..... and most probably got that way thousands of years ago.

Why does the listed company will exist agency problems?

The primary reason for the divergence of objectives between managers and shareholders has been attributed to separation of ownership (shareholders) and control (management) in corporations. As a consequence, agency problems, or principal-agent conflicts exist in the firm.

A sample financial hardship letter?

State your name, address and loan number and date. Address what changes in your life have brought you to this hardship briefly (divorce, loss of job, medical condition, death of partner, job relocation, etc.) & why you are having financial trouble paying your mortgage.

State your income & expenses monthly and it should show you can not meet your mortgage obligation monthly.

State whether you are looking for a loan modification or to do a short sale of your loan.

Sign and date it and send it to your mortgage contact, email or fax it with a return receipt acknowledgement request. Google sample letters but include the above key points in a 1 page document.

Where can you find samples of financial hardship letters?

Samples won't do you much good when you don't know the psychology behind writing these letters. In fact, many people shoot themselves in the foot by following online samples.

Your best bet is to learn what the lenders are looking for and to familiarize yourself with the new government programs, and show a) why you qualify for the program you're requesting approval for, and b) why you will be able to make the resulting payments.

Answer

Although there are such letters offered for a small fee by businesses that supply legal forms, these letters have little if any affect when presented to a creditor.

Hardship letters are generally reserved for student loans. Such a letter must be accompanied by substantiating documentation of a permanent physical or mental condition that renders the debtor from ever having the ability of repayment. However, even under cited circumstances it has become extremely difficult to be granted a hardship dismissal of federal student loans.

Be that as it may an example would be similar to:

Dear Sir or Madam,

This correspondence is a request for the amending of (name of debtor(s)) account# xxxxxxx, on grounds of hardship.

I/We, wish to request a reduction of the amount of repayment to $xxxxx (per week/month).

This change is requested from day/month/year to day/month/yr.

(Include details of the reason for the request and disposable monthly income vs. expenditures.)

I/We, ask that you consider this request as a matter of urgency.

Thank you for your assistance in this matter.

Respectfully,

(Signature(s))

The debtor should change the wording to fit individual circumstances. Such correspondence can do no harm, but neither is it likely to be of much help.

Where can you find a sample hardship letter to help you write to a creditor who has repossessed your vehicle?

Answer

Go to www.nolo.com for answers to most everyday legal questions, including sample letters.

You will get more out of it if you find a book you like there and either buy it, or get it at your library. It has a great step by step manual WITH ALL FORMS (!!) to file for bankruptcy, for instance.

Answer

Here's a link to one I found: http://www.foreclosurebeat.com/a_hardship_letter_020804.htm

Answer

Debtors who STAY in contact with Lenders dont usually need this. The lenders are AWARE of your payment records to them and others. Their confidence in you is built by CONTACT and exchange of info. Telling a lender of your hardship will do little if anything good AFTER they have repossessed your collateral. Money TALKS and Everyone else WALKS. Good Luck with your letters.

What was the cause of the oil spill in the Gulf of Mexico?

There are a number of investigations ongoing that will address this issue. BP has stated that there is not a single cause to this accident, but a series of unlikely events that caused the accident.

The issues to be investigated will be: (1) the cementing in of the tapered liner, (2) the well integrity test after the cementing in (3) the decision to use a foamed cement, lightened by nitrogen for the liner (4) the decision to displace the drilling mud with sea water after the integrity tests (5) possiblity of hydrocarbon influx from the formation back through the double valved float collar, and into the well bore (6) the possibility of hydrocarbon influx from the formation between the last cemented casing and tapered liner string, and entry through the seal assembly (7) causes for the BOP failure to actuate (8) the causes for the failure of the emergency disconnect fo the marine riser (9) why gas was able to flow into the engine room and catch fire.

In sum, I don't know the answer to your question, but in the end, there has to be changes done, so hopefully accidents will not occur in the future. New information will be available after the well is plugged and the blow out preventer stack can be retrieved.

How does the oil spill in the Gulf of Mexico effect the environment?

It doesn't; at east not yet. Most oil is transported by the Gulf of Mexico stream, which is taking it into the Gulf states (Louisiana, Mississippi, Alabama) and then bordering Florida's coast into the Atlantic Ocean.

This doesn't mean however, that Mexico is safe: with the hurricane season any cyclone could hit the oil spill, "transporting" the oil into far and away lands, including Mexico.

Did BP cause the 2010 oil spill in the Gulf of Mexico?

BP announced that it has spent or committed to spend about 350 million dollars, so far. (see links) It is too early to know the final cost of clean up and effects on its exploratory drilling plans.

Is Mexico affected with the oil spill?

The oil spill has alot of gallens pooring into the water every second and minites.i think we should help because this can effect are water that we drink.

When did the oil spill in Mexico occur?

There have been two major oil spills in the Gulf Of Mexico:

2010 April 20 : BP Deepwater Horizon (Macondo Blowout) Oil spill.

1979 June 3: Ixtoc I oil spill.

Minor spills:2004 September 16: Taylor Energy wells. Hurricane Ivan caused leaks to 26 wells near Louisiana.

1990 June 8: Mega Borg SE of Galveston. Explosions in a tanker's pump room caused fire and oil spills while transferring oil

2007 October 23: Kab 101 - Storms caused damage to Kab 101 causing collisions, leaks resulting in evacuation of oil rigs.

2010 July 27: Barataria Bay, Louisiana. Boat clips abandoned oil line, causing oil to spurt into the air.

The BP oil spill was initiated by a methane leak which ignited and exploded on the oil rig. The valve gave out on April 20th, 2010 but the oil rig ship sank two days later (April 22nd, 2010). The oil leak was mostly stopped on July 15, but the spill continues to exist.
April 20th 2010 72days ago i think from July 1st 2010

How much oil spilled into the Gulf of Mexico so far?

Major Spills:

June 3, 1979 : Ixtoc I oil spill. 454,000 - 484,000 tonnes.

April 20, 2010: BP Deepwater Horizon (Macondo Blowout) Oil spill. 492,000 - 627,000 tonnes.

Minor Spills:September 16, 2004: Taylor Energy wells. Hurricane Ivan caused leaks to 26 wells near Louisiana. 62 - 96 tonnes.

June 8, 1990: Mega Borg SE of Galveston. Explosions in a tanker's pump room caused fire and oil spills while transferring oil 16,500 tonnes.

October 23, 2007: Kab 101 - Storms caused damage to Kab 101 causing collisions, leaks resulting in evacuation of oil rigs. 1,869 tonnes.

Total:964,000 - 1,130,000 tonnes of oil

6.6 million - 8 million barrels of oil

275 million - 335 million gallons of oil

1.05 billion - 1.27 billion litres of oil

This answer is based on a using today's date, 09/21/2010. Make your own calculations for dates in the future.

Answer:

The gusher is estimated by the quasi-official Flow Rate Technical Group to be flowing at 35,000 to 60,000 barrels of crude oil per day (wikipedia.org). There are 42 gallons in a barrel, so that's 1.5 to 2.5 million gallons per day.

BP has stated that it is impossible to precisely know the amount of oil that is flowing. There is no place on the well to install a gauge. However, a task force has been established to estimate the volume of oil spilled in the gulf.

See related link.

Did anyone die in the oil spill in Gulf of Mexico?

This depends on which oil spill is referred to. See related questions.

115 people managed to escape into lifeboats, but unfortunately 11 People died in the fire and explosion from the BP oil spill in the gulf of mexico. 2 People later died in related spill related incidents.

Does oil spill affect cozumel?

Cozumel is far away from this spill and the movement has been in the eastern direction (towards the panhandle area of Florida). So, this spill does not affect Cozumel, Mexico.

How do you find Outsourcing Companies in India?

People are outsourcing India because countries such as the US, have computer companies hire employees in India to solve the customer's problem. India makes a lot of money when the US hires employees from India.

What is heavier oil or water?

Light Oil is a blend and can vary from 880 to 920 kg/m3

Heavy oil is normally 920 kg/m3

What is an embargo on oil and other supplies?

According to this online encyclopedia: An embargo is usually enacted in order to force another nation to do something or to stop doing something. MrV ban the publication of (documents), as for security or copyright reasons; "embargoed publications"

How the oil spill affect land?

The most common spill is from pipeline breaks. Many other sources of spills occur. Oil and gasoline storage tanks have leaked oil, harming the groundwater.

A blow out from a land rig can result in fire and toxic gas (H2S) released to the atmosphere, and cause injury or death to rig workers.

Crude oil spills can harm birds, mammals and vegetation. The spilled oil may remain in the soil for a very long time as it is very expensive to remediate oil soaked earth.

A land base oil spill does not spread quickly over large areas like some marine spills. For this reason, there is not the same awareness that land spills impact the environment.

See related links.

What does density have to do with oil spills?

Oil varies considerably in density. Some oil is so thick that it sinks in water. However, it is very uncommon for an oil well to produce very heavy oil.

A light oil will have higher rates of evaporation, which means that some of the oil will be lost due to evaporation when it is on the surface. For evaporation, the density or really the composition of the oil is an important factor. Water temperature, air temperature, hours of sunlight, and wave action are additional factors. Loss by evaporation was considerably higher in the BP oil spill than in the Alaskan oil spill (Exxon-Valdez spill). Note that the Alaskan spill, the oil was low density.

BP used controlled burns to destroy some of the oil. If the oil was heavier and there was more wave action, this might not have been possible.