This is a hit-and-run diary, as I cannot flesh out a great deal of background and am about to head out the door. Looked for recent diary and didn't find one -- thought I could spark the conversation ?
Please check out link below the great orange curlicue...
The court says in a statement posted Wednesday on its website that each company will be fined 500 million reals, or about $244 million, for each day they fail to comply with the suspension.Guess what? It started again.
About 155,000 gallons of oil crude began seeping from cracks in the ocean floor at the site of a Chevron appraisal well in November. Chevron has placed the amount of oil that leaked at 110,000 gallons.
Dang it, this sounds familiar. 110k gallons, huh? I'm waiting for the next 'correction.'
(Thank you in advance to anyone who cares to fix/add tags)
5:13 PM PT: Now reported by Reuters:
"* Failure to comply carries fine $245 mln/day fine
* Transocean could lose $3.5 mln/day in leases on 10 rigs
* Transocean rigs about 10 pct of South America drill fleet"
Decision came from an appeal to a federal court that, in April, had refused the injunction request. Also from Reuters, "...the injunction could force state oil company Petrobras, BP Plc , and U.S. independent oil company Vanco to suspend drilling operations in nine other Brazilian fields that use Transocean rigs."
Nothing to see here, folks. Merely 1000x smaller than Deepwater Horizon event.