Friday, June 11, 2010

BP oil spill: let us break it down for you


Over 50 days ago, on April 20th, 2010, the Deepwater Horizon drilling rig (a mobile offshore drilling unit designed to drill underwater wells for oil extraction) exploded due to a high pressure in the well, leading to what experts now think may be one of the largest oil spills in history.

With news reports every day updating citizens on new estimates of oil spilled, who's blaming who, which politician is offering his two-cents, which celebrity is offering his new technology, why they went wrong, and who is in trouble, it can be near impossible to figure out what's happening.

Over the next few days, I'll be writing some posts about:
2) What are the business implications?  What are the political implications?  And, most importantly perhaps, how are these intertwined?
3) What's going to happen and how can we help?

I'll split it out over a few days so it's not like reading a novel but all we can say with certainty is that this event could be a major turning point - but of what?  (We don't quite know... a turning point for big corporations?  For small business?  For President Obama?)

Even more than a month later, there's quite a bit of conjecture, so, as always, your feedback is appreciated.

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