BP Lays Out Latest Oil-Recovery Scheme

So, British Petroleum rolled out a new and ambitious oil-recovery plan on Monday, claiming it will increase its capturing capacity to at least 40,000 barrels a day by month’s end. This is just too little, too late for all those oiled-up pelicans, however. — KA

The Wall Street Journal:

BP, which said further enhancements will increase the collection capacity to as high as 80,000 barrels a day by mid-July, submitted its latest plan after Mr. Watson, the federal government’s second-in-command for the spill response, told the company Friday its previous plan was insufficient and gave BP a 48-hour deadline to come up with a revised approach.

The BP-owned well has been leaking for nearly two months, raising the risk of environmental and economic devastation in the region. U.S. President Barack Obama and much of the American public have expressed outrage over BP’s inability to stem the disaster, which has already cost the company $1.6 billion and is likely to result in many billions more in costs for cleanup, covering claims and litigation.

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