Page 17 - Potential Damage News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Relief well will work when it's down, which i anticipate, from what i'm hearing, should be late august, early september. they have to do positions once they get to the depth. i'm sure that will work. it's worked hundreds of times before. but until then, nothing certain. >> shepard: there's no reason to believe this well might are compromised below the gulf floor such that there could be leaks and as you cap it it would squirt out underneath and compromise the floor there. >> i'm not aware of anything that would, that the pipe would be what -- in question. i'm not aware of potential damage. the...

They'll be siphoning out, we're hearing, bp is hoping as much as 85% of that leak up to the surface where they'll be a boat, a ship, waiting for it. they'll be siphoning the oil onto the ship and they'll get it out of here. briefly that's, of course, what we're watching, 5,000 feet underwater and that is what bp is saying will not come without complications, because they've never tried some of this before. some of the other potential damage, they've been placing the chemical dispersants from the air to break up some of the oil way out there. we also know that they're using a couple other proce...

Near those fault lines, people have to at least be aware are vulnerable. >> let's get to an explainer here. how does earthquake insurance work? >> reporter: well, it's not covered under your standard homeowners policy. you have to know that if you live in one of these areas, listen up, because you've got to buy a separate policy to protect you and your home against earthquake. earthquakes are expensive and there's a lot of factors here. let's look at what we're talking about. the age of your home, the older the home obviously the more cost is going to be for the insurance. if you've got a wood...

So you've got a lot of potential damage. you've got a cost that's increasing because more and more buildings are being built in the riskier areas near those fault lines in this country. the older the building, the more vulnerable it is. i want you to take a look at this map of the u.s. and you're going to see the most risky areas. the areas in red, concentrated on the west coast and in the middle of the country where you have the most active risk of earthquakes. california the most at risk. the yellow areas are where there's moderate risk. overall, you've got only about 2% of the earthquakes i...

Storms in the southern indian ocean, so it's not a good scenario no matter how you look at it. >> okay. catherine, thank you. >> you're welcome. >> now to chief white house correspondent ed henry standing by at the white house on the north lawn with the fast moving situation in eastern europe. russia is not backing down. >> good evening, bret. not a nuclear standoff so it may not be a full on cold war but this is a battle over cold hard cash in terms of potential damage to russia's economy and the relationship is getting frosty. just one month after president obama declared he's not engaged in...