Top Kill Approved to Proceed by US Government
A statement has been issued by the lead US government co-ordinator, Rear Admiral Mary Landry, for BP to proceed with "Operation Top Kill."
Top kill is the latest attempt by BP to plug the burst oil pipe that is pumping tens-of-thousands of barrels of crude oil into the waters of the Gulf of Mexico. The operation involves pumping a mud-like substance down into the leaking oil well in the hopes that enough pressure will be exerted to reverse the flow of oil.
BP says there is a 60 to 70% chance that top kill will be successful. If the pressure of the mud being pumped into the well is too high there is a chance that the well could be further ruptured and the leak could get worse.
Here's an explanation and more details of Operation Top Kill.
Energy Boom content is for informational purposes only and is not intended to be advice regarding the investment merits of, or a recommendation regarding the purchase or sale of, any security identified on, or linked through, this site.