Oil rig in Gulf of Mexico sinks, leaking oil and gas a huge worry

A burning oil rig stationed in the Gulf of Mexico near Louisiana sank Thursday, raising the risk of an oil spill to a very high level.

Gulf of Mexico - The oil rig had been on fire since Tuesday, when an explosion occurred. Eleven workers out of the crew of 132 are still missing after the explosion. The rig is called Deepwater Horizon, and the fire on the rig has already seen the release of oil into the ocean, and it is feared that as much as 7,400 barrels of oil a day could be released now that the rig is inoperable. Owned by Transocean, and leased to BP for the cool rate of half a million a day, Deepwater Horizon sank Thursday morning. The search is still ongoing for the eleven missing crew members, although the outlook for finding survivors is not good. BP and Transocean were served with notice Thursday they are being sued for negligence. The suit was filed by a family member of one of the missing men. The rig was nine years old and cost $600 million to build. Transocean said the well was still flowing, and had said it was cleaning up the oil slick that has developed on the ocean surface. Natural gas is also flowing from the well and contaminating the ocean. While it has not been possible to thus far stop the oil leak, a robot provided by BP has been deployed underwater to try to stop the leak. If the well is not able to be capped by the robot, BP said it is ready to try to drill

"... a “relief well” intersecting the original well. Mud and cement could then be injected inside to cap it. Such an operation, however, could take weeks or even months."

BP has also said it has crews on site, deploying booms as well as skimming surface oil. BP's Group Chief Executive said,

"We are determined to do everything in our power to contain this oil spill and resolve the situation as rapidly, safely and effectively as possible. We have assembled and are now deploying world-class facilities, resources and expertise, and can call on more if needed. There should be no doubt of our resolve to limit the escape of oil and protect the marine and coastal environments from its effects."

The National Oceanic and Atmospheric Administration expects that favourable weather conditions will keep the hydrocarbons from moving to land, but some upcoming weather is causing concern for the agency. Should the oil be moved by winds to shore, the consequences will be far worse. According to Transocean's press release, the company

"... is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide."

Families of the missing eleven men are hoping for good news. A crew member told the investigating Coast Guard that a smaller blast occurred a few hours before the big explosion. An expert said the risks are increased when companies drill deeper and deeper for oil, telling Business Week that the drilling might have caused a "blowout." UPDATE, April 23, 2010: Coast Guard Rear Admiral Mary Landry announced this morning on the show, Good Morning America that there is no oil leaking from the well. The eleven men unaccounted for still have not been located.