Friday, October 8, 2010

Blowout Preventer from BP (NYSE:BP) Oil Spill Still Sitting Around

One of the key pieces of evidence related to the BP (NYSE:BP) oil spill, the blowout preventer, is still sitting around after being lifted from the bottom of the Gulf of Mexico after the explosion on the Deepwater Horizon oil rig.

Cameron International (NYSE:CAM) produced the blowout preventer which failed to stem the flow of oil and gas as it was supposed to do in these types of situations.

It has been a month since the device was moved to a government facility to be examined, but in its usual incompetence, has done nothing to examine the causes of the failure of the device which is one of the main pieces of evidence in how fines and/or distribution of liabilities will be assessed.

So you have all these lawsuits and claims being made without the blowout preventer having even been examined.

The reason for the delay according to federal officials, is they are waiting for the approval of the procedures they'll use to do the testing. Court records reveal a multi-agency team will make that determination. How long can it take these "brains" to determine something as simple as that?

Testing on the blowout preventer was supposed to have began by October 1, and it's uncertain as to how much more time will be wasted before a determination as to the procedures used will be made.

The device is sitting in a NASA facility in New Orleans.

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