Lmrp Cap News Today

Understand right now. that has taken care of 238,000 barrels of oil. and 460,000 barrels have been siphoned off the leak down at that b.o.p. at the bottom as they use the q4000 and the lmrp cap. but storms in the gulf are delaying the plans to beef up the siphoning operation. they have one floating riser that will be able to work well during a hurricane situation. they also have flexible connections with that q4000 thats also attach add t the moment. bp says it has spent $300 million in just the...

But i indicated to the chairman that throughout this process, as we work to make sure that the gulf is made whole once again that the standard im going to be applying is whether or not those individuals i met with, their family members, those communities that are vulnerable, whether they are uppermost in the minds of -- of all concerned. thank you very much, everybody. >> bp creates a $100 million compensation fund for oil industry workers left jobless. you heard a lot of people refer to the mor...

>> what is bp saying ability the amount of oil theyre able to contain at this point? >> just to be clear, this second containment system is on top of that lmrp cap thats been in place since about the beginning of the month. theyre going to be collecting the oil, but theyre not going to be storing it, theyre going to be burning it. th the reason for that is they cant store it. they dont have a storage vessel on the you are fas right now thats available to collect it .and so the only alternative

Yes, bp is putting aside $20 billion against claims, yes, they will have this separate $100 million fund for the laidoff workers, but essentially, the president was saying if the claims and the liability go beyond that, bp will not be able to walk away. bp will be responsible for the environmental clean-up, apart from these other issues. >> its shocking to a lot of people to know there was a $75 million cap. bp has spent about $1 billion i believe the estimate is in these 56 days now. do you thi...

Realizes the american people are looking for him to get a little bit toughering and i think it probably was sterner than some of the meetings hes had with financial executives and some other leaders of the industry. >> and real quick michael, given what we just heard from the presidents oval office statement and the last visit to the gulf coast, how would you say hes fared this three days that was heavily billed as his chance to get control of this. >> this is corner turning. the fact that bp is...

Announce that bp has agreed to set aside $20 billion to pay claims for damages resulting from this spill. this $20 billion will provide substantial assurance. the claims people and businesses will have been honored. its also important to emphasize this is not a cap. the people of the gulf have my commitment that bp will meet its obligations to them. and bp has publicly pledged to make good on the claims that it owes to the people in the gulf. and so the agreement we reached sets up a financial a...

Meeting that was scheduled for two hours taking four hours. ken feinberg being the guy to run this fund had been basically verbally agreed to. it was just these bigger issues. and in many ways it is. because you heard robert gibbs yesterday on the "today" show saying whatever bp would do would be a down payment. you heard the president today say this is not a cap of how much money they would pay. but we dont have the details of that, finding that out will be interesting. you could tell there is ...

Suppression of the pressure inside the capping stack and basically have reached a static condition in the well that allows us to have high confidence that there will be no oil leaking into the environment and we have significantly improved our chances to finally kill the well with the relief wells when that does occur. >> todays success a sharp contrast to the long list of failed attempts to stop the well forethe first 87 days. you remember that list well. its like a list of greatest hits. the b...

Moved inside. his statement at about 2:30, about 25 minutes from now here in washington. and then robert gibbs will brief the press shortly thereafter. >> and why, mike, was the president in the meeting and then leaving? why didnt he stay the duration. and who are some of the other players in that meeting? >> thats a very interesting question. you know, a lot of conservatives on the blogosphere have been criticizing the presidents plan that he was going to spend about 20 minutes inside that meet...

Theyre doing right behind us. this is the plan that bp has published now, what you can see is two strategies. first off, you have on the left-hand side here, this is a free-standing riser. basically, it sits about 300 feet underneath the surface. so that when a hurricane comes through, if a surge passes through, they can quickly disconnect the surface equipment and then move away. unfortunately, because of alex, they have had to push that off a little bit. its been delayed slightly. thats one mi...