Any potential/existing investor in BP needs to read the just-published article "BP oil spill trial's second phase, starting Monday, will play key role in deciding massive fines" in the NOLA Times (best source for BP trial news, btw).
This article lays out what the evidence against BP is expected to be better than anywhere I've read.
I will leave the editorializing to others, and just say, the people need to read this article. It shows how BP lied and how that relates to the oil disaster and how BP is going down.
I just wish Judge Barbier would hurry up and release his orders!!
I read it. The article mainly shows incompetency of government officials involved with the spill. The officials lacked logical thinking skills, common sense, knowledge of reservoir engineering and physics. E.g. they did not understand the difference between flow rates used to test a mathematical model and actual oil flow rates at the wellhead. Although the two have nothing in common they used them interchangeably. Furthermore the article shows the government was not genuinely interested in minimizing oil flow after the explosion. They wanted to see BP immediately cap the well with brute force, likely resulting in massive fractures that would have caused a much larger spill. Had the plan of these government official been implemented, Macondo would still be spewing oil into the Gulf today. But were these officials really this incompetent or did they have a "hidden" agenda? Even today, the same officials remain keenly interested in creating the largest spill possible, either imagined, lied or actively created in order to collect the highest fines possible. Fortunately, BP engineers ignored all government pressure and implemented their own well thought out and in the end successful plan.
BP knew the top kill wouldn't work because it had estimated the flow rate internally at around 50,000 BPD. When the top kill failed, BP blamed it on mechanical trouble - another lie. BP thought it could lowball the flow rate and get away with it. And it almost did. But when it was putting the cap on the blowout preventer, the government made BP add a oil flow monitor. That proved the BPD rate was almost 50,000. So BP is at plan "B" which is to say, oh, well, sure, in June the rate was 50,000 BPD, but it was much lower before that because all that cement slowed it down.
Puh-lease. It's a litany of lies. And I'm betting Judge Barbier will agree.