The Big Picture: Why Is It So Hard to Stop the Oil Gusher, and Why Was Such Extreme Deepwater Drilling Allowed in the First Place?The government failed to properly ensure that BP used adequate safety measures, BP and their contractors were criminally negligent for the oil spill, and BP has tried to cover up the problem. See this.
But why hasn't BP stopped the leak?
Some people assume that BP hasn't stopped the oil leak because it's people are wholly incompetent.
Others have asked whether BP's $75 million liability cap is motivating it to stall by taking half-hearted measures until it's relief well drilling is complete.
But there is another possible explanation: the geology at the drilling site makes stopping the leak more difficult than people realize.
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The oil and gas industry and the United States government both face tremendous challenges to explore discover, appraise, develop, and exploit vast new hydrocarbon reserves in waters deeper than 6000 feet in the ultra-deepwater of the Gulf of Mexico. Yet these new reserves of hydrocarbons are needed to offset the economically detrimental, long-term decline in production from within the borders of the United States
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If successfully developed, the new play concept would fill an essential gap in the overall strategic defenses of the United States by decreasing the gap that results in the nation's dependence on foreign oil and gas reserves in this volatile and hostile, post 9/11 world. However, the successful production of oil and gas from this new carbonate play concept requires much more cost-efficient evaluation and appraisal technologies than exist today to economically conduct exploration, appraisal, and development activities. These new technologies must be developed before production can be practical in the ultra-deepwater operating environment.... The Ultra-Deepwater and Unconventional Gas Trust Fund of the DOE has as its mission to cut costs and time-to-market not incrementally, but radically, so that the United States can optimally utilize these strategic hydrocarbon reserves. The DOE, with extensive industry,academic and non-governmental assistance, developed an Offshore Technology Roadmap ...,
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The U. S. Energy Bill of 2002 has allocated significant resources to fund innovative industry, academic, and national laboratory research initiatives to develop the new technologies necessary to explore and produce these new ultra-deepwater reserves economically. The purpose is not only to impact the national defense, but also to regain our international technological leadership in the deepwater, recently lost to the Brazilians, Norwegians, and Europeans.
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Congress, never a big friend to energy interests, has acted to create the Ultra-deepwater Trust Fund that would add an astounding $200 billion by 2017, if successful at developing the new production technologies required.
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http://www.zerohedge.com/article/big-picture-why-it-so-hard-stop-oil-gusher-and-why-was-such-extreme-deepwater-drilling-allow
Much more good stuff in the article.