BP’s shares tanked 5% today as news spread that seepage had been detected near the oil wellhead that it was purported to have capped. While such seepage is minimal compared with the plume of oil that had been spewing from the well up until a few days ago, it certainly isn’t a good sign. Worst case scenario, it means that oil and gas may seep out of the sides of the well and breach the sea bed itself, rather than simply escaping from the well head as it had been doing.

On the hopeful side of the issue is the fact that such seeps are common in the oil-rich Gulf of Mexico, and this  may simply be one that was occurring naturally near the capped well head. BP, the Gulf Coast, and environmentally concerned citizens all over the world are hoping for the best in a situation which has, up until now, been all about the worst that could happen.

Tags: bp oil, bp oil seepage, bp oil spill, deepwater horizon, gulf coast

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