Kobs & Philley, PLLC are reporting that the oil slick is nearing the beautiful white sandy beaches of the Florida panhandle. This means that the oil slick is nearing Pensacola and Perdido Key, FL for the first time. Officials in Florida are reporting that the oil sheen is about 9 miles off the coast of Pensacola beach, which is a summer hot spot. If the oil slick hits the panhandle, it would be a devastating blow to tourism and industry in not only Florida, but also Alabama and Mississippi.
Meanwhile, BP is still trying to plug the hole leaking oil from the bottom of the sea floor. BP has been trying for six weeks to block the seafloor well or divert the oil, but all attempts to date have failed. BP's latest efforts involve utilizing a set of tools similar to an oversized deli slicer and garden shears to break away the broken riser pipe so that its engineers can then position a cap over the well's opening. Needless to say, this is the worst oil spill in the history of the United States, and has already had catastrophic effects on the seafood industry and the ecosystem.
BP's stock fell as news of a criminal probe stemming from the disaster surfaced. In fact, British-based BP PLC shares were down 3 percent Wednesday morning in London trading after a 13 percent fall on Tuesday. BP has lost $75 billion in market value has been lost by BP since the oil spill started on April 20, 2010 following a fatal explosion on the deepwater rig Horizon.