A new estimate from energy investor Tudor Pickering Holt & Co. in Houston says the oil leak could last until Christmas:
http://www.businessweek.com/news/2010-06-02/bp-oil-leak-may-last-until-christmas-in-worst-case-scenario.html BP’s attempts so far to cap the well and plug the leak on the seabed a mile below the surface haven’t worked, while the start of the Atlantic hurricane season this week indicates storms in the Gulf may disrupt other efforts.
“The worst-case scenario is Christmas time,” Dan Pickering, the head of research at energy investor Tudor Pickering Holt & Co. in Houston, said. “This process is teaching us to be skeptical of deadlines.”
Ending the year with a still-gushing well would mean about 4 million barrels of oil spilled into the Gulf, based on the government’s current estimate of 12,000 to 19,000 barrels leaking a day. That would wipe out marine life deep at sea near the leak and elsewhere in the Gulf, and along hundreds of miles of coastline, said Harry Roberts, a professor of Coastal Studies at Louisiana State University.
The so-called relief well being drilled to intercept and plug the damaged well by mid-August might miss -- as other emergency wells have done before -- requiring more time to make a second, third or fourth try, Dave Rensink, President Elect of the American Association of Petroleum Geologists, said.
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The ultimate worst-case scenario is that the well is never successfully plugged, said Fred Aminzadeh, a research professor at the University of Southern California’s Center for Integrated Smart Oil Fields who previously worked for Unocal Corp. That would leave the well to flow for probably more than a decade, he said in a telephone interview.