$1 billion investment by four companies to handle future underwater oil spills:
Reported by: Anza crwenewswire Mideast correspondent.
The recent deep water oil explosion in the Gulf of Mexico has proved the inefficiency of the oil industry. Apparently, the oil industry wasn’t found to be well equipped to control the oil spill. Supervisory bodies now want a pre-planned spill handling plan for any sudden underwater oil spills. The oil company’s share price has declined due to its inefficiency.
Exxon Moil, Chevron, Shell and Conoco Phillips have put their hands together to form a new company to respond to offshore spills in an effective, pre planned and efficient manner. These four companies have decided to start with $ 1 billion. The investment is expected to result in the well organized equipment to reach to the oil pouring site within the shortest possible time.
“Ultimately we are exploring the changes and reforms that need to be made in deepwater safety standards, spill response and containment,” Bromwich (Director of Bureau of Ocean Energy Management) said in a statement. “But steps like these move in the right direction.”
It took three months to stop the well from pouring out oil, British Oil even dropped a heavy metal containment box over the sudden stream, and shot garbage to block the way for oil but it was useless. At last a cap system may be working well. A small cap previously was not working so was replaced with a new cap which proved somehow successful. No one knew whether the equipments would work under the water. Now Exxon has promised to test all the equipments and make them ready so that they can be used successfully at the time of any emergency.
The companies say that the system they are planning would be able to capture 100 thousand barrels, and would be able to solve problems found up to 10,000 feet underwater. Let’s hope that this joint venture saves the already weak nature of mother earth.
The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.
Tags: 10 000 feet underwater, 100 thousand barrels, Bromwich, Chevron, Conoco, Exxon, Shell
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