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RMS: BP Oil Well Site Has 40% Chance Of Being Hit by a Storm

One catastrophe risk management firm said there is more than a 40 percent chance that by the end of August, at least a tropical storm will pass over

By Chad Hemenway | Updated on June 29, 2010

NU Online News Service, June 30, 11:45 a.m. EDT

One catastrophe risk management firm said there is more than a 40 percent chance that by the end of August, at least a tropical storm will pass over the spot where the Deepwater Horizon oil rig operated by British Petroleum once drilled into the Gulf of Mexico floor.

In a recent report, Risk Management Solutions (RMS) analysts also concluded there is a 15 percent chance that by the end of July, a tropical storm or hurricane will pass within 100 miles of the Macondo oil well BP was using before an explosion in April sunk the rig and killed 11 workers. The well continues to spew oil into Gulf.

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