I'm not pedantic enough for this forum.

Firstly, I'm not sure that's the case - I'll bet BP end up pay up many billions of dollars for this. Oil companies typically self-insure for many costs, so there may not be insurers to fall back on.

But, if the law were capped at 75 million liability (would be interested to see if that was actually so?), why would BP be obliged to pay more? That's the whole point of setting liability limits... the law (State? Federal?) has considered the whole risk scenario, and set X as the limit that it believes oil companies will absorb before they just end up offering less for licence rights.

So, as always a balance between risk and reward, for the oil companies and the taxing States.

But I think BP has had quite enough bad press recently, after the Texas explosion and now this, that it would not be a wise decision to start trying to limit its clean up liabilities to $75 million - with 70+ boats and countless aircraft and helicopters on station, 4,000 beach crew 'volunteers' who BP are paying $10/hr, add in the costs of shutdown drilling on other wells, plus thousands of salivating American lawyers waiting to be fattened, I reckon that $75 million is about 2 hours of BP's costs.

The dome may not work
http://www.cbc.ca/world/story/2010/0...ment-dome.html

The dome may not work... first time.

BP going to try a second dome, will take until the end of the week to get in place. http://www.cbc.ca/world/story/2010/0...pill-0510.html

BP could always check with The Right Honorable Mr Brown (best be quick) and see if there is a chance of using the Millennium Dome.

They are trying all sorts of things. The BBC are reporting some plan involving firing bits of tyre and old golf balls at the BOP to get it working. The risk being it breaks and the leak gets 10 times worse.

This story has slipped down the news recently even though this has the potential to be the biggest story for a generation.

I saw that too. It made me think of the "chicken cannon" on whatever that CBC comedy show was.

Metaphorically, what they need is a little Dutch boy with a big finger and the ability to hold his breath for a really long time. Failing that, I believe the Junk Shot is firing stuff down the pipe into the BOP to clog it up rather than at the thing.

These will help also.

No sense leaving them on the shelf.

supposing, nothing works?

I love enigmatic punctuation like that.

I am not sure they can give a reasonable estimate yet of how much could leak out. They are claiming that it will take another 2 months or so in order to dig the relief well, so it could potentially take a while. Hopefully they can get the 2nd cap to work.

I'm, happy for you.

Hopefully indeed. What a mess.

Apologies for not posting anything more erudite.