Archive for July 19th, 2010

BP oil cap may not have stopped leak

Guardian: Concerns are mounting about the new cap over BP's damaged Gulf of Mexico oil well after engineers detected seepage and a possible methane gas leak on the seabed. Admiral Thad Allen, who is in charge of the US government's response to the disaster, has written to BP demanding answers to "undetermined anomalies at the well head". US scientists grilled BP engineers last night about how the site is being monitored. Allen gave BP permission to keep the containment cap closed for ...

US fears Gulf seabed oil seepage

BBC: The US fears oil may be seeping from the ocean floor near the stricken Gulf of Mexico oil well. The official in charge of the clean-up, Thad Allen, said if a substance leaking from the seabed was found to be methane this might mean oil was also leaking. US Oil Spill Damage assessment Alaska heals from 1989 spill Which way forward for BP? Ways BP has tried to stop the leak He ordered BP to submit a plan to reopen the capped well if the seepage was confirmed, so ...

Hedge funds accused of gambling with lives of the poorest as food prices soar

Guardian: Financial speculators have come under renewed fire from anti-poverty campaigners for their bets on food prices, blamed for raising the costs of goods such as coffee and chocolate and threatening the livelihoods of farmers in developing countries. The World Development Movement (WDM) will issue a damning report today on the growing role of hedge funds and banks in the commodities markets in recent years, during which time cocoa prices have more than doubled, energy prices have soared ...