Now that BP’s Top Kill attempt has failed, and it’s dawning on people that the leak really could go on until August (provided the relief well works, which is no 100% guarantee, which is why they’re drilling two of them), here’s what’s going to happen.
First, expect BP to be “off the job” in the coming days. Having BP run the show has been a disaster for a couple of reasons. One is that Obama has to defend the company’s actions, and two is that BP is HORRIBLE at PR, waiting hours to give updates that everyone is clamoring for. Watch for the military to take over, though using BP’s resources and of course BP’s dime.
Next, the so-called “nuclear option” is about to get a lot of attention. In this case, of course, nuclear option is not a euphemism. It’s the real idea that the best way to kill this thing is to stick a small nuke in there and bury the well under rubble. Supposedly it’s been done in Russia, and by the middle of the coming week, it will be all over cable news, as pundits press The White House hard on whether it’s being considered and why not.
BP will probably get slaughtered in London trading on Monday. Apparently London has the day off, as well. So watch out for an ugly Tuesday.
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