Some spill update info...

First:

http://www.cbsnews.com/stories/2010/...n6577858.shtml

That said, there is, or apparently, was more oil at Orange Beach, but local
reports are that it is all or mostly cleaned up. Much of Alabama's "coastal"
state waters have been closed, but all of Mobile Bay, etc., remains open. Most
Florida water remains open, as does Mississippi water. Florida's closure goes
into effect tomorrow. The area of closure isn't large:

http://www.pnj.com/article/20100613/...scambia-County

There have no significant signs of oil in the MS Sound "inland" coast of MS, and
very little on the barrier islands that I've seen or heard about.

One ironic note - the reports are that boycotts against BP stations are
affecting more locals than anything. I haven't heard how many are "company"
stores, but apparently, a large number are simply locally-owned businesses (or
at least non-BP owned) who simply carry the BP branding and fuel and all are
obviously local employers. Since at least some are under contracts, they cannot
simply switch to another branding. I'm not suggesting that folks do not boycott
BP products, just that they consider what the true impact is before doing so.
I'd guess, but do not know for certain, that such boycotts will affect the
innocent much more than BP, but ???

The amount of "lawyer advertising" is growing daily as is the ridiculousness of
some of the claims. While there are certainly people who are entitled to and
deserve compensation, some of this cannot possibly be sustained against BP. For
example, I've heard that due to the moratorium, there are hundreds of crew
boats, etc. sitting idle, and the workers are, of course, not earning. It is
looking like the Fed will be "asked" to kick in with that, and if past
experience is ANY indication of future performance, that alone will be a
disaster.

A lawyer acquaintance whose firm was one of the primary plaintiff firms against
BP in the refinery explosion has ramped up bigtime. While I don't begrudge his
desire to take potential money-makers, the naked greed is pretty troubling. One
thing I reminded him is that many of those he is attempting to gather up are in
primarily cash businesses and while I'm sure they all keep copious documentation
and report even penny, it is going to be a, um, challenge to get big bucks for
someone who only made a few thousand dollars in each of the last X years. While
asbestos, etc., may have taught these guys a lot, it also taught defense firms
and the courts a lot, too, and this could get VERY weird and ugly and the
potential for a hosing of US taxpayers is looming large.

TC,
R