Page 3 - Containment Device News Today

Says containment device is covering the main leak and that it could start pumping out crude as soon as next week. the spokesman says it could take up to 12 hours for the giant steel and concrete box to settle into the mud at the bottom of the gulf. a mile below the surface. and another two days before the pump can get started. heres a reminder of how this is supposed to work. once this big box is in place. workers are to hook up a pipe to try to divert the oil into tanker on the surface. bp engi...

The place. ranging from $2 billion to $14 billion. we wont know the full cost until all of the leaks are stopped. lets say this containment device works, if that happens, analysts say the clean-up cost would be $1 billion of $2 billion. all right. worst case scenario, the spill lets land. if that happens, clean-up will be much harder because youve got beaches, youve got fishing areas, animal habitats being effected. that would top the highest estimate of $14 billion, tony. >> and then theres the...

Tapping. is this a case of bp and other oil companies, i have to ask you this, for that matter, just going too far into the water and digging too deep? >> well, we are going to find out but i can tell you bp wasnt prepared for this. that containment device being built they never had a plan b if the regulator wasnt going to work. british petroleum has been abysmal on day one since this and the fact they are building it, going to gush for another week and maybe in a week and then if that doesnt wo...

The same time. so they can make the most of what could be a weak casing. >> sean: why dont you explain what they did here so people can understand it? >> what they basically did is they set this containment device especially designed on top of the blow-out protector. it is a big device. it has the ability, sean, to actually ram charge closings to actually shut off the flow of oil and gas from the top of the blow-out protector through the containment device to try to push that oil back into the e...

Latest updates on this topic.

This breaking news, host of varney and company, stuart varney. and the author of why we hate the oil companies, the former ceo of shell oil john hofmeister. welcome back, good to see you. john, last time were you here, were you not confident this would work. what do you think of where we are right now? >> well, i would emphasize the word cautious, sean before the word optimism. this is not a didnt deal. pressures are very, very tough things to deal with. if the casing is weakened or damaged, the...

This breaking news, host of varney and company, stuart varney. and the author of why we hate the oil companies, the former ceo of shell oil john hofmeister. welcome back, good to see you. john, last time were you here, were you not confident this would work. what do you think of where we are right now? >> well, i would emphasize the word cautious, sean before the word optimism. this is not a didnt deal. pressures are very, very tough things to deal with. if the casing is weakened or damaged, the...

The same time. so they can make the most of what could be a weak casing. >> sean: why dont you explain what they did here so people can understand it? >> what they basically did is they set this containment device especially designed on top of the blow-out protector. it is a big device. it has the ability, sean, to actually ram charge closings to actually shut off the flow of oil and gas from the top of the blow-out protector through the containment device to try to push that oil back into the e...

Charles hadlock is live in louisiana. the coast guard still on alert there, right. >> >> reporter: oh, absolutely. any time theres a tropical storm or hurricane in the gulf of mexico or about to enter the gulf of mexico, all eyes are on it, though it appears to be drifting westward. and these situations you can never count out the possibility that the hurricane or tropical storm force winds could shift back to this direction. so, everybody is watching this very closely, along the gulf coast. if ...

But were dealing with the oil and gas industry, rugged industry. oil, iron, steel, but its a very delicate operation. 5,000 feet belows as evidence yesterday morning when one of those rovs bumped into the containment device and closed the vent. that changed the pressures and made everything out of whack. in fact, it made it dangerously, dangerous situation with natural gas coming up one of the hoses up to the ship where gas is being flaired off. that could have been disastrous. bp quickly dispos...