Friday, September 3, 2010

Blowout Preventer on Failed Well in Gulf of Mexico Waters Removed

The failed blowout preventer atop the Macondo Well was removed today

By Nicholas Moroni

BP was able to remove the failed blowout preventer after a robot was submerged unto the seafloor to retrieve the 50-foot, 300-ton device, The Associated Press reported today.

The device is important to Justice Dept. investigations that will be udertaken to understand why the device did not seal the well after the April 20th explosion.

Hundreds of lawsuits have already been filed against the potentially liable companies, and lawyers will be watching the findings, as many more could follow.

For its part, BP claimed it has already spent $8 billion in the gulf - throughout the saga, the company has pledged to take "full responsibility." It has also agreed to pay into a $20 billion escrow fund for spill victims.

The New York Times reported today that BP announced that recently proposed legislation that would deny the compnay drilling permits in the gulf could impede its ability to pay into the fund.

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