whatever litigation motives the company might have for not getting that accurate flow rate count, which will be provided when the relief wells go through, this is more of a business question, would those be outweighed by the loss in stock value each day of the spill, not to mention the risk of somehow getting caught further with something else going wrong? i think right now bp s more worried about cash than they are their stock price frankly. every day that they have the well flowing without the entire volume being measured is a day they can argue that the volume is much less than what we think it is. if they get a cap put on that contains the entire flow, all of a sudden, they ll be forced into a hard number. and as we know all of the fines are based on a per-barrel discharge. that turns into a gigantic
as always, great thanks for your time tonight. as promised, let s bring in former oil and gas executive you, bob cavnar, who writes about the industry for huffington post. on his own website the daily hurricane. bob, good evening. good evening, keith. what was your take-away from the news today about the sudden new updated, improved estimate for finishing the relief well? keith, i think there are several things going on here. one, i believed for the last several weeks that mid-july was the time frame they would be ready for the kill, were it not for a storm or some other situation come up. since there hasn t been a storm that s shut them down, they really have made enough progress to do the kill by mid-july. the fact they re pushing their date up finally is one, they re facing the reality they re within a couple hundred feet. since they re being pushed to put a tighter cap on, they want to get that well killed before they have to put the cap on. whatever litigation motives
bob cavnar, who now writes about the industry for huffington post and his own website, the daily hurricane. good evening. good evening, keith. what was your take-away from the news today about the sudden new updated, improved estimate for finishing the relief well? keith, i think there are several things going on here. one, i believed for the last several weeks that mid-july was the time frame they would be ready for the kill, were it not for a storm or some other situation come up. since there hasn t been a storm that s shut them down, they really have made enough progress to do the kill by mid-july. the fact they re pushing their date up finally is one, they re facing the reality they re within a couple hundred feet. since they re being pushed to put a tighter cap on, they want to get that well killed before they have to put the cap on. whatever litigation motives the company might have for not