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It's Official - Another BP Failure - Efforts To End Flow From BP Well Are Over, Coast Guard Says

Tyler Durden's picture





 

From Bloomberg:

BP Plc has given up trying to plug
its leaking well in the Gulf of Mexico any sooner than August,
laying out a series of steps to pipe the oil to the surface and
ship it ashore for refining, said Thad Allen, the U.S.
government’s national commander for the incident.

Undersea robots began sawing away damaged pipe today,
preparing for the first of those attempts, Allen said today at a
press conference in New Orleans. The new strategy, which is
subject to disruption by tropical storms and hurricanes, will
continue until relief wells being drilled can plug the damaged
well from the bottom, he said.

That will happen no earlier than August. BP on May 30 said
its “top kill” attempt to plug the well with mud and rubber
scrap had failed.

BP will try to install a snug-fitting “top cap” over the
gusher within 24 hours to 48 hours once the robots complete
severing the pipe. To get a good seal, BP needs a clean cut at
the top of the blowout preventer, a five-story stack of valves
that failed to prevent an April 20 blowout that killed 11 people
and started the spill, Allen said. Should the jet of oil and gas
drive the cap aside, another cap designed to let more oil escape
will be tried, Allen said.

“We’re talking about containing the well,” Allen said.
“We don’t want to restrict the pressure or flow down that well
bore because I don’t think we know the condition of it after the
top kill.”

Relief Wells

The drilling of a second relief well resumed May 30, Allen
said. It had been suspended for several days as BP and
government officials, including Energy Secretary Steven Chu,
weighed whether to use the rig that was drilling it to install a
second blowout preventer atop the damaged one. BP decided not
to, Allen said.

The odds of success for installing the oil-capturing system
are better than the 60 percent to 70 percent chances the company
gave for the top kill attempt that failed May 29, BP Managing
Director Robert Dudley said on NBC’s “Today” show. Cutting the
pipe may temporarily boost the flow of oil into the Gulf by as
much as 20 percent, Dudley said on CBS’s “Early Show.”

BP fell the most in 18 years in London trading today after
top kill failed to plug the worst oil spill in U.S. history. Top
kill was an effort to pump fluids into the well to hold back the
oil and gas long enough to allow a cement seal to stop the flow.
BP is now trying to capture the oil, estimated by government
scientists last week at 12,000 barrels to 19,000 barrels a day,
while it drills two relief wells to permanently stop the leak.

‘Risks Are Lower’

“This is a lower-risk activity than what we were doing
with the top kill,” Dudley said of the cap. “We’ve gone down
this path because the risks are lower. The engineering, while
not simple, is certainly simpler than what we were trying with
the top kill.”

Video on BP’s oil-spill website showed a circular saw
making preliminary cuts on a smaller pipe that’s part of the
riser, the cluster of lines that once extended from the well to
the drilling rig, said Jon Pack, a BP spokesman. Shears were
already grasping the riser, he said.

BP fell 63.35 pence, or 12.8 percent, to 431.45 pence at
3:39 p.m. in London, the biggest drop since 1992. The company
has dropped 34 percent since the Deepwater Horizon drilling rig
exploded on April 20.

Disappointed Hopes

“The market had hoped they’d get it under control and they
haven’t,” Peter Hitchens, an analyst for Panmure Gordon UK Ltd.
in London, said today in a telephone interview. Hitchens rates
the stock at “buy” and owns none. “Clearly, the damages and
costs are going to go up.”

President Barack Obama will meet today with the co-chairs
of his oil-spill commission and then give a statement, according
to a schedule provided by the administration.

BP plans “in a couple of weeks” to reverse the system of
pipes and hoses that injected mud into the well for top kill,
achieving another route to storage on the surface, he said. As
part of the top-kill effort, BP had to remove a tube from the
riser that was capturing as much as 6,100 barrels a day from the
well.

Engineers also are working on a free-standing riser pipe to
be installed later this month that would allow tankers to take
on oil, Dudley said. That equipment would include a quick-
disconnect coupling so tankers could depart ahead of a
hurricane, Dudley said on CNN today. Hurricane season starts in
the Gulf today.

Changing Winds

Southwest winds predicted this week would push oil from the
well to a wider area of the U.S. coast, the National Oceanic and
Atmospheric Administration said in a May 31 statement on its
website.

“Results indicate that oil may move north to threaten the
barrier islands off Mississippi and Alabama later in the
forecast period,” the agency said. As of yesterday, the Unified
Area Command in Robert, Louisiana, reported oil along 100 miles
(161 kilometers) of Louisiana coastline.

BP has spent $990 million on the spill response, according
to a statement today. The company has paid $39.4 million in
damage claims as of May 31, the unified command for the spill
response reported yesterday. BP reported 30,619 claims and has
denied none, it said.

BP needs the equivalent of a lottery win to succeed with
its first attempt with a relief well, David Rensink, president-
elect of the American Association of Petroleum Geologists, said
in an interview.

Permanent Seal

The relief well aims to intercept the damaged hole at an
angle thousands of feet below the seabed and permanently close
it with heavy mud and cement. The method is the surest way for
BP to end the largest oil spill in U.S. history, yet initial
failure is “almost a certainty,” Rensink said.

“What you’re doing is trying to intersect a well bore that
is probably roughly a foot across with another well that is
about a foot across,” he said. “It’s a hit-or-miss sort of
thing. Ultimately the relief well will work. It’s just a matter
of time, of continuing to poke at it until you intersect it.”

 

 


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Tue, 06/01/2010 - 13:34 | Link to Comment Turd Ferguson
Turd Ferguson's picture

This is such an absolute disaster, it makes me want to puke every time I think about it.

Tue, 06/01/2010 - 13:42 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

http://www.msnbc.msn.com/id/37438997/ns/business/

Read further down, when it starts talking about the "flotels".  Yeah, that's a fantastic idea as hurricane season begins.  What the fuck are they thinking?

Tue, 06/01/2010 - 14:17 | Link to Comment Cursive
Cursive's picture

With the current economic depression, there is actually a glut of storage containers worldwide.  So much so, in fact, that brokers have begun selling them to people.  We are going to see a lot more "creative" use of storage containers.

http://www.containersforsale.co.uk/

There are better websites than this, it was just the first one I found.

Tue, 06/01/2010 - 14:44 | Link to Comment ZerOhead
ZerOhead's picture

They are awesome... For around $2,000 I get them delivered and convert them into on site environmental remediation systems for our problem properties with air strippers and GAC carbon fitlration units. They lock up tight and keep the curious out.

Tue, 06/01/2010 - 14:48 | Link to Comment bombdog
bombdog's picture

Here's a good one... more novel uses for a container

http://en.rian.ru/video/20100526/159164595.html

Tue, 06/01/2010 - 14:59 | Link to Comment WaterWings
WaterWings's picture

Yep. China and Russia don't need to sneak nuclear armed subs past our navy...it's all hidden in plain sight.

Tue, 06/01/2010 - 14:21 | Link to Comment WaterWings
WaterWings's picture

Hooray! Local farmers know that salt water can ruin crops further inland - oil is lighter than water...hmm. Slippery roads? Oil soaked vegetation and wood leading to massive fire hazards? Coastal Superfund Zone declared? BP is still using dispersant (4X more toxic than oil - ordered to stop by EPA weeks ago) to keep oil off surface...chemical rains...where will these people live? How many years to recovery, if ever? FEMA tent cities set up around the country? How long will it take locals to decide they can't live there anymore? Will they wait to the last minute? Will the gov't continue to lie/obfuscate/drag feet? The point of no return has passed and the oil is still flowing.............

Tue, 06/01/2010 - 14:26 | Link to Comment Cursive
Cursive's picture

I'm 2 hours inland and I'm pissed/worried.  The "oil rain" theory, which may be bogus, is some scary shit.  It is difficult to remain constructive on our formerly fine country when the level of incompetence is this high, the incompetence is abetted by authority and the citizenry is asleep.

Tue, 06/01/2010 - 14:30 | Link to Comment WaterWings
WaterWings's picture

BP tells the Coast Guard what to do. Literally. No media allowed to fly below 3000 feet. Citizens threatened with arrest. I'm almost ready to buy a ticket down there and run around on the beach...call up local media, "Get ready for a show!"

Tue, 06/01/2010 - 14:36 | Link to Comment Thoreau
Thoreau's picture

I'll bring the Mossberg and ride shotgun!

Tue, 06/01/2010 - 14:42 | Link to Comment Hephasteus
Hephasteus's picture

I'll bring the cigars and help catch us all on fire.

Tue, 06/01/2010 - 15:00 | Link to Comment WaterWings
WaterWings's picture

We'll swing by and grab Velo - give her a raincoat and a fire extinguisher.

Tue, 06/01/2010 - 15:07 | Link to Comment sushi
Tue, 06/01/2010 - 14:47 | Link to Comment WaterWings
WaterWings's picture

Heh heh heh.

Tue, 06/01/2010 - 14:37 | Link to Comment Cursive
Cursive's picture

You've probably already seen this, but Mish posted a great on-the-ground blogger video on Sunday.

http://globaleconomicanalysis.blogspot.com/2010/05/bp-abandons-top-kill-more-images-failed.html

Tue, 06/01/2010 - 14:47 | Link to Comment ZerOhead
ZerOhead's picture

Top Kill is dead! Time to try Bottom Kill!

Long live the Quicksilver Bullet!

Tue, 06/01/2010 - 15:17 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

“We’re talking about containing the well,” Allen said. “We don’t want to restrict the pressure or flow down that well bore because I don’t think we know the condition of it after the top kill.”

Bottom Kill is all they can hope for at this point. The statement I cut and pasted above is very telling. There has never really been a good discussion on why "Top Kill" was so dangerous. And while I'm not an expert, it appears that since they didn't know the conditions inside the well nor the BOP, Top Kill could have caused more damage and instability to an already unstable system.

From what reading I've done. while BP hasn't come out and said it, that well below the sub-sea surface was severely damaged and they can't plug it even with a second BOP. And this was finally recognized when the Top Kill failed so completely. They now understand the well casing has been compromised and it's all "stall and contain" until they can try to plug it from the bottom.

Let us be clear here folks. Plugging from the bottom may not work considering the pressures down there and the porosity of the field. ZerOhead, didn't you say something like 30% at one point? Has anyone figured out how much cement they will need to pump into the field below the old well to plug this baby when the surrounding rock has a 30% porosity at that pressure? Oh my God.

Tue, 06/01/2010 - 16:23 | Link to Comment ZerOhead
ZerOhead's picture

30% is the number CD. But most of the strata above the reservoir are impermeable shales with only a few areas of porosity according to the drillers (when drilling mud 'disappears' during drilling it is actually entering these areas often causing more hydraulic fracturing... AKA fracing... or fracking) Mind you that they barely perforated the reservoir formation as best as I can recall.

Top kill... and anything that results in increasing pressure on the clearly compromised well casings and under the BOP... is dangerous since at any time the oil pressure may just 'POP' the BOP and wellhead off or result in the oil finding it's own path to the surface outside of the casing (ie. seabed leakage... very very bad!). The oil is not merely in the riser (small pressure cross section)... but underneath the entire wellhead casing (much larger diameter = much more force than the system was designed for)

I'll get you guys the well layout again...

Thar she be..

http://www.theoildrum.com/files/GOM%20Oil%20Spill%20Figure_2a.jpg

A 36 inch diameter means the oil pressure of around 8,000 PSI (numbers courtesy of Thad Allen..)

means let's see... 36/2 (radius) =18... then squared = 324... then times Pi = 1,018 sq inces... times 8,000 PSI equals...

Eight million one hundred and forty four thousand pounds of upward pressure on the BOP of course one has to subtract the weight of the water column above it to come out with a final answer of...

Just over 6 million pounds of upward pressure on the BOP and wellhead! Ouch!

Tue, 06/01/2010 - 16:26 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I'm aware of the non porous cap over the field and the fact the well didn't penetrate too far into the field. I guess what I was thinking was what makes them think that they will be able to fill the "pores" in the field with the heavier mud and cement fast enough to overcome the natural movement towards the lower pressure area created by the open well?

I understand the well isn't completely open, that it is somewhat restricted by whatever cement pieces are blocking the well, combined with the partially closed rams. But they have said they don't wish to apply any more pressure from the top so the bottom kill ain't getting any help form above.

But with a 30% porosity, the oil has many paths to the well. They are going to need to hit very close to the bottom of the old well with the new well. Is drilling tech that good that they can hit the spot that close after drilling that far? What's the margin of error for hitting a spot that far down?

Tue, 06/01/2010 - 16:45 | Link to Comment ZerOhead
ZerOhead's picture

You do not need to fill the 'pores' just match the pressure of the oil producing reservoir and you are good to go!

Tue, 06/01/2010 - 17:11 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"I see" said the blind man. Of course, its the pressure differential they're dealing with, not the total pressure of the field.

Thank you kind sir for the education. In effect, they will be giving the old well a prostate problem and squeezing the well shut by applying just enough pressure with the mud and cement around the area of the old well penetration to stop the flow in the field.

One final thought. Won't they have the same problems with the new wells as the old well. I'm not talking about the sloppy drilling job or the finishing of the old well. I thought there were basic problems with the geology and pressure, which was the very reason they were drilling on the edge of the field.

Tue, 06/01/2010 - 17:43 | Link to Comment ZerOhead
ZerOhead's picture

Correct.

If they attempt to intersect the leaking well by drilling horizontally through the reservoir (original plan.. ie. production well... hint hint...) they could make things much worse by radically increasing potential oil flows. If they drill to intersect just above the reservoir formation and succeed in breaking through to the leaking well (big if) then the pressure on the well will drop by a factor of two... or half pressure. So they still are not out of the woods but it gives them more options.

Tue, 06/01/2010 - 22:29 | Link to Comment ColonelCooper
ColonelCooper's picture

Okay. I'm a pipeliner, not a driller, and I'm expecting to get the shit junked out of me.  Or at the very best, maybe somebody can tell me why this idea is out of the question:

We focus on "top-hat" style bandaids.  Why not something more along the lines of "top-catheter"?  Imagine something along the lines of a heli-coil, cross bred with an easy-out and a thread tapper.  It would need to be tapered to a slightly smaller O.D. than the I.D. of the casing.  This of course would be hollow, and taper into a riser pipe which could then be hooked onto in order to siphon the flow.  I doubt that any type of threads cut into the well would hold up to the pressure if it was attempted to valve it off, cap or blind it, but if the threads could stand the pressure increase from the slight bottleneck at the taper, it might work as a siphon until the relief wells are done??????

I understand this restriction would increase the head pressure at the well, and that is a major concern.  I know that every engineer under the sun is working on this, and it has probably already been discussed and dismissed. (maybe it's too dumb to even have been discussed) But.....  maybe it's like when the power goes out and the whole neighborhood  sits in the dark thinking that somebody else called the power company.

Wed, 06/02/2010 - 13:13 | Link to Comment ZerOhead
ZerOhead's picture

It would be great if that could be done... without the water in the mix there will be no hydrate formation.

Problem is the 21 inch riser is junked. You will require to cut away to a 100% uncompromised and circular portion of the riser first which may not be possible. Then you have to build a tap and die set for the same. That done you have to apply torque that these ROV's can't produce on a totally horizontal plain.

Not saying it can't be done... just that it will be extremely complicated... but it's nice to see you're not afraid to think. Welcome to the club!

The lower marine riser package will work I believe... it won't stop the flow and is susceptible to storms and leakage but it should get most of the oil under control.

And then we will soon find out EXACTLY how much oil is leaking!!! :)

Tue, 06/01/2010 - 15:18 | Link to Comment Dr. No
Dr. No's picture

I was thinking about your mercury shot: I dont think it will work.  How do you deliver it?   I dont know if you can pump mercury so you would have to lower a 1000ft column of mercury into position and then dump it in? It would need to be all-in-one shot to counteract the oil PSI (6000+?)  Also, I am not sure if the capilary action of the mercury will support itself in the tube (tube diameter?) since the mercury is heavier than oil.  

 

If I am completely wrong, I will go back to drafting my plans for world domination and leave it to the engineers.

Tue, 06/01/2010 - 15:49 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Um, could I sneak a peak of those plans? :>)

Tue, 06/01/2010 - 16:39 | Link to Comment ZerOhead
ZerOhead's picture

Yup... posted the way to do it back at the last thread... hang on...

 

It's all dependant on flow velocities in the lower pipes and risers... and to make those calculations we require the REAL numbers!... but it's not quite as simple as I am making it out. It will immediately reduce the flow from the moment it is injected but there are big challenges once the pool of mercury builds up above the 7 inch tapered riser. (Think of a cylindrical 'tube' of mercury building up on the inside surface of the pipe... where flows are slower due to frictional resistance and eddies at the taper... while the crude moves through the center)

 

While the oil gushes through the centre until that 'structure' becomes unstable due to the increasing weight of injected mercury... The velocity/pressure of the  oil will initially prevent the mercury from descending further until the accumulted mass approaches 100K Kg. At that point it will suddenly descend down the 7 inch tapered riser and literally slam into the reservoir rock inducing severe fracing. If it holds (which it won't since much of the mercury like previous drilling mud will 'dissappear' into the porous reservoir rock) then you are OK. The way around this problem is actually two-fold and while lengthy it's very simple... but I'm not sure anyone here wishes to hear how it can be done.

 

If they did I would tell them to inject only half of the mercury at first which will remain suspended by oil pressure/flow while placing pressure downward slowing the oil.... then with the pressure at the BOP reduced by over half actually... try a modified junk shot again... if it works the mercury will settle to the bottom of the string since the flow will be yet again reduced. If the junk doesn't plug just add more mercury reducing pressure until it does. If the mercury accelerates too fast it can be controlled by opening a valve on the second mudport to let the flow of escaping oil to briefly increase thus taking the Ooomph out of the hit when it descending column of mercury reaches the reservoir formation. Then just slowly inject the remaining mercury and once things stabilize send down a small amout of concrete to make a plug. Once it cures make a larger plug on top... rinse and repeat presto-chango no leak!

 

Oh well... I'm just an idiot kitty but thanks for the vote of confidence Dr. No!

Looks like I've lost Dr. No! Oh Nooooooooo! :)

The methodology with the proposed 'test' is back at the other thread!

Tue, 06/01/2010 - 18:10 | Link to Comment LeBalance
LeBalance's picture

Ummm...why are some considering mercury, its just about the single most toxic element in the periodic chart.  I just spent the last six months detoxing from being poisoned with the stuff.  /argh!/

Tue, 06/01/2010 - 19:27 | Link to Comment ZerOhead
ZerOhead's picture

Elemental mercury has low bioavailability. Methyl mercury on the other hand is a real bitch. And dental amalgam (silver and mercury) is in the mouths of half of Americans.

Plus it's going to stay in the hole for a gazillion years... or until BP pumps it back up again with the last slurps!

Tue, 06/01/2010 - 14:48 | Link to Comment sushi
sushi's picture

Any pictures of the giant condom they are going to use to cap this thing? If BP has trouble finding the XXXL they need I could lend them one of mine.

Tue, 06/01/2010 - 15:30 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

This is sadly a much better idea than what I've seen so far coming from BP.

Tue, 06/01/2010 - 14:50 | Link to Comment WaterWings
WaterWings's picture

Oh, damn. Local authorities have not yet determined if the deaths of wildlife is related to the spill. Just like those workers were still "missing" (and not officially "burned alive") for three or four days.

Tue, 06/01/2010 - 15:46 | Link to Comment DaveyJones
DaveyJones's picture

It's probably just suicide

Tue, 06/01/2010 - 15:53 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

It's so sad that those four words could speak such truth with such volume regarding our collective insanity and the effect we have on all living things on this earth, excluding of course the humans.

Tue, 06/01/2010 - 16:03 | Link to Comment DaveyJones
DaveyJones's picture

you never miss a message, thanks. I started to watch the video on the Mish link above and I just kind of lost it with a weird wave of anger and sorrow. What the fuck is wrong with us?

Tue, 06/01/2010 - 14:55 | Link to Comment Turd Ferguson
Turd Ferguson's picture

Thanks for the link. The video from the biologist is terribly sad. 

Tue, 06/01/2010 - 13:43 | Link to Comment AnAnonymous
AnAnonymous's picture

Too bad you dont puke everytime you think about it.

You could have helped to reduce the oil spill.

Tue, 06/01/2010 - 14:18 | Link to Comment Turd Ferguson
Turd Ferguson's picture

Huh?

Tue, 06/01/2010 - 14:30 | Link to Comment Votewithabullet
Votewithabullet's picture

Fucking que?

Tue, 06/01/2010 - 14:33 | Link to Comment molecool
molecool's picture

The dispersent they use probably contains acidic components to break up the oil.

Tue, 06/01/2010 - 14:08 | Link to Comment Noah Vail
Noah Vail's picture

Tyler, you need to double check sources before you post this stuff as your rate of error is getting pretty high.

From AP, 12:10 CST:

Coast Guard Adm. Thad Allen is saying that BP is in the middle of its first major pipe cut in the company's latest bid to contain the oil spewing into the Gulf of Mexico. Allen, the national incident commander, said Tuesday that it could be as many as three days before oil can be contained and siphoned to the surface. BP has another major cut to do before a cap can be lowered on to the leak

Same Guy, totally different comments. There's more bullshit flowing than oil. and most of it is from the hate oil crowd.

Tue, 06/01/2010 - 14:19 | Link to Comment JJP
JJP's picture

Is that the same coast guard that said the first attempt was working

Tue, 06/01/2010 - 14:27 | Link to Comment Cursive
Cursive's picture

Yes.  And Thad Allen's comments from last week rank right up there with, "Good job, Brownie."

Tue, 06/01/2010 - 14:30 | Link to Comment reading
reading's picture

It's Tyler's fault that Bloomberg is reporting that BP is stopping?  Seriously, there is definitely not more bullshit than oil -- it's been bullshit from the first time they blew that rig sky high.

Tue, 06/01/2010 - 14:33 | Link to Comment sushi
sushi's picture

Bloomberg once again is following ZH's lead:

 


Efforts to End Oil Flow From BP Well Are Over, Coast Guard Says

By Jim Polson

June 1 (Bloomberg) -- BP Plc has decided not to attach a second blowout preventer on its leaking well in the Gulf of Mexico and efforts to end the flow are over until the relief wells are finished, according to the U.S. Coast Guard’s Thad Allen, who spoke at a press conference today.

Last Updated: June 1, 2010 13:41 EDT

Tue, 06/01/2010 - 14:32 | Link to Comment Tyler Durden
Tyler Durden's picture

I am fairly confident 1-800-Bloomberg will promptly address your concerns.

Tue, 06/01/2010 - 13:39 | Link to Comment reading
reading's picture

You have got to be kidding me...what a complete line of bs they have been feeding everyone.

The guy from BP was on this morning saying they expected a 70-80% chance of success with this method. Pretty optimistic for a method that lasted less than 24 hours.

Tue, 06/01/2010 - 13:38 | Link to Comment primus
primus's picture

Yep, they can't cap this bad boy.

The risk of blowing out subsurface is way too great.

I wonder if they are going to proceed with cutting off the riser and getting the LMRP or if that is off the table also?

In other news,

"The shares have now lost more than a third of their value, wiping some $63 billion off BP's value, since the explosion at the Deepwater Horizon oil rig six weeks ago."

A $63 bn blue light special!

Hello, Merger.

Shell, Exxon, Chevron, Conoco and the other super-majors are licking their lips right now.

Read more: http://www.adn.com/2010/06/01/1302626/bp-stocks-plunge-as-next-well.html#ixzz0pcl8xxCY

 

Tue, 06/01/2010 - 13:44 | Link to Comment reading
reading's picture

Aren't they saying they are not doing the LMRP?  

Tue, 06/01/2010 - 13:49 | Link to Comment primus
primus's picture

I thought the LPRM was for containment only? They said they are not going to attach a second BOP. But if all effort are now halted, I guess they decided not to cut off the riser.

Tue, 06/01/2010 - 14:07 | Link to Comment reading
reading's picture

BN 10:29 EFFORTS TO END FLOW FROM WELL OVER, UNTIL RELIEF WELLS

BN 10:29 ALLEN SEES `CONTAINMENT SCENARIO' UNTIL RELIEF WELLS DONE

 

My assumption that the LPRM was off was based on those comments above.

Tue, 06/01/2010 - 14:21 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

And on top of all of this, there is a Cougar on the loose!!!

AL AND TIPPER ARE GETTING DIVORCED!!!!!!!!!!!!!

Oh yes, she will be mine!

Tue, 06/01/2010 - 14:26 | Link to Comment downrodeo
downrodeo's picture

Finally!!!

Now he can get back down to the business of turning every square millimeter of our universe into a taxable, inflatable, wholly-owned commodity. Glory to Al in the Highest!!

Tue, 06/01/2010 - 13:40 | Link to Comment Coldcall
Coldcall's picture

not surprising. The idea that they could carry out that operation remote control with robots was a joke to begin with.

onto plan 2948390...

"daddy, have you plugged the hole yet?"

Obama: "its president to you biatch, and no i havent plugged the motherfucking hole!"

 

Tue, 06/01/2010 - 18:38 | Link to Comment Alienated Serf
Alienated Serf's picture

glen, i thought you aplogized for that. tsk tsk

Tue, 06/01/2010 - 13:45 | Link to Comment silvertrain
silvertrain's picture

 There was a story on Bloomberg on Sunday I think, that said that bp had contacted an agency in Texas,I think, about what do to incase of a MAJOR OIL LEAK ETC in MARCH..I cant figure out how to search Bloomberg for it but im sure someone could look it up..Theres going to be alot more dirty laundry to come of this in the future..They hit a beast down there and it overpowered there ass, and THEY KNEW FROM THE START..Thats  why all of that tension on the rig before it blew up..

Found it,

 http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2YhRIxyAMhI

Tue, 06/01/2010 - 13:41 | Link to Comment Weimar Ben Bernanke
Weimar Ben Bernanke's picture

oh shit..........

Tue, 06/01/2010 - 13:53 | Link to Comment Hansel
Hansel's picture

"Containment Scenario"?  Like subprime?  So the plan is to get the oil fucking everywhere.

Tue, 06/01/2010 - 13:43 | Link to Comment proLiberty
proLiberty's picture

The Claw still has the Grip of Death on the riser.

 

http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/ho...

 

 

Tue, 06/01/2010 - 13:44 | Link to Comment Coldcall
Coldcall's picture

they are just measuring the circumference to see if they can fit Haywards head in it.

Tue, 06/01/2010 - 13:49 | Link to Comment williambanzai7
Tue, 06/01/2010 - 13:57 | Link to Comment proLiberty
proLiberty's picture

Video feed now showing empty ocean. No depth info on the display so can't tell anything more than that.

Tue, 06/01/2010 - 13:48 | Link to Comment DavidC
DavidC's picture

<msacras>Can't be that bad, the market's up today, even FTSE has recovered most of its earlier losses.</msacras>

DavidC

Tue, 06/01/2010 - 13:47 | Link to Comment ptoemmes
ptoemmes's picture

For those who do not know about it, The Oil Drum at www.theoildrum.com has some incredibly interesting and educational - to me - open threads on this disaster.

ToD is to oil and energy and the GoM disaster as ZH is to the "slow motion finance disaster".

Pete

Tue, 06/01/2010 - 13:53 | Link to Comment williambanzai7
williambanzai7's picture

Perhaps "Top Kill" was a code name for metings with bankruptcy lawyers...

HURRICANE BP POLITICAL STORM TRACK (REPOST):

http://williambanzai7.blogspot.com/2010/05/hurricane-bp-political-storm-...

Tue, 06/01/2010 - 13:48 | Link to Comment Tipo anónimo
Tipo anónimo's picture

Time to drop a little note at your neighborhood BP describing why the owner should sell to the 'greater fool', as you are immediately going on a campaign to end their business.

Tue, 06/01/2010 - 13:52 | Link to Comment jkruffin
jkruffin's picture

Transocean's (RIG.N) five-year credit default swaps rose by 38 percent to 347 basis points

Last I saw for BP was 180 and probably higher by now

 

Getting UGLY!

Tue, 06/01/2010 - 13:53 | Link to Comment Xibalba
Xibalba's picture

I have homes in Naples, Fl close to the beach (2blocks).  I can say with a sober face that this will be more devastaing than anyone can even imagine.  That little town was on the brink of actually making a comeback.  I can only assume that there are thousands of small communties that are feeling as angry as mine.  I now have stockpiles of ammo and silver.  Come and get it! 

Tue, 06/01/2010 - 14:22 | Link to Comment depression
depression's picture

If your are planning on staying, then you might want to add a couple of Level A Hazmat suits to your stockpile... just saying

Tue, 06/01/2010 - 15:33 | Link to Comment Muir
Muir's picture

I've lived in Fl for 40y+ and know both coasts very well.

I'm sure you've thought about it; the red tide blooms could be much bigger in the future.

RE values will plummet further Naples-->Venice-->Sarasota (North Port/Cape Coral will not recover)

Tue, 06/01/2010 - 18:41 | Link to Comment Alienated Serf
Alienated Serf's picture

ye residents of florida, abandon all hope. (there was no hope before the spill however)

Tue, 06/01/2010 - 13:55 | Link to Comment Sudden Debt
Sudden Debt's picture

Now everything hang in the balance assuming the relief wells will work!

That only has a 50/50 chance of working!!!

Tue, 06/01/2010 - 14:07 | Link to Comment Hansel
Hansel's picture

Even if the relief wells do 'work', oil will still flow out of the original well.  And in the interim 2 months, oil will continue to gush into the Gulf.  SNAFU.

Tue, 06/01/2010 - 13:58 | Link to Comment Instant Karma
Instant Karma's picture

If there was a Superman he would have fixed it already.

Ergo, there is no Superman.

Disappointing.

Why not stick about 8 big hoses down near the oil leak, suck up all the water into holding vessels, have the holding vessels off load the watery oil onto a second ship which ferries the watery oil to a processing facility to extract the oil.

If you can't stop the spill, suck up near the bottom as much as possible.

 

Tue, 06/01/2010 - 14:18 | Link to Comment downrodeo
downrodeo's picture

yeah, they pretty much suck everywhere; i'm buying a f#(&!ng bicycle to commute w/  

Tue, 06/01/2010 - 14:25 | Link to Comment franzpick
franzpick's picture

A large leak needs a large solution - a controlled sinking of an empty oil tanker with a  compartment open at the bottom that captures the oil, which is then pumped to surface container vessels through mile-long piping-tubing attached to the top.  The pipehead oil engineers won't comprehend this, but the Army Corps of Engineers might, or the Seabees.

Tue, 06/01/2010 - 14:27 | Link to Comment WaterWings
WaterWings's picture

That's the most common sense solution. I couldn't believe I was watching live video of the leak without any active effort other than 1 "sippy straw". More leaks revealed. Massive plumes lurking. More?

This is fantastic!!! Official confirmation that the US public is beyond any hope of releasing themselves from the chains of tyranny. Jefferson, Franklin, Madison, Adams...so proud of us.

http://www.youtube.com/watch?v=dsx2vdn7gpY

 

Tue, 06/01/2010 - 14:00 | Link to Comment bugs_
bugs_'s picture

Temperature going up at the leaks.
They may not have the 60+ days to
finish the relief wells.  Still
giving the optimistic view at this
late date.

Tue, 06/01/2010 - 14:04 | Link to Comment jkruffin
jkruffin's picture

As of 10 mins ago

BP Default Swaps Soar on Gulf Leak as Credit-Risk Indexes Rise

 

The cost to protect BP Plc’s bonds jumped to a record high after efforts to plug the leaking Gulf of Mexico well failed, leading a benchmark credit derivatives index to increase.

Credit-default swaps on BP soared after the so-called top kill attempt using heavy fluids failed to stop the oil flow off the Louisiana coast. BP started cutting the leaking oil pipe today in an effort to funnel crude to a vessel at the ocean’s surface. Contracts on Anadarko Petroleum Corp., Transocean Ltd. and other companies tied to the leaking well also climbed.

Credit-default swaps on the Markit CDX North America Investment Grade Index rose 12.4 basis points to a mid-price of 119.25 basis points as of 12:50 p.m. in New York, according to Markit Group Ltd. The index typically rises as investor confidence deteriorates.

“Investors have ratcheted up their yield requirements for the elevated risk to BP,” said Joel Levington, managing director of corporate credit for Brookfield Investment Management Inc. in New York. “When you look at them from 10,000 feet, you’re still looking at a company that’s expected to make $20 billion in earnings this year. For investors, they have to decide what their time horizon is. There’s obviously a lot of short-term volatility in that name.”

Swaps Soar

Swaps tied to BP soared 70.4 basis points to 171, according to CMA Datavision. Contracts on Transocean, which leased to BP the Deepwater Horizon drilling rig that sunk, climbed 110.6 basis points to 363.5. Anadarko Petroleum, which holds a 25 percent stake of BP’s Macondo well, rose 86 basis points to 250.1. Halliburton Co., the second-largest oilfield contractor and a service provider on the rig, rose 21 basis points to 100.2, CMA prices show

Tue, 06/01/2010 - 14:03 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Fail started 4.20.  Long time gone.

Tue, 06/01/2010 - 14:04 | Link to Comment Stu
Stu's picture

looks like an oil volcano at ABC feed...just damn

Tue, 06/01/2010 - 14:06 | Link to Comment M.B. Drapier
M.B. Drapier's picture

BN 10:29 BP HAS RESUMED DRILLING SECOND RELIEF WELL, ALLEN SAYS

What possible reason was there ever to have stopped?

Tue, 06/01/2010 - 14:25 | Link to Comment Boop
Boop's picture

They were planning, I gather, to put the BOP from that second well onto the blown-out one as part of this latest "fix".

Apparently one can't drill without blow out protection.

Tue, 06/01/2010 - 14:07 | Link to Comment Gully Foyle
Gully Foyle's picture

You girls worry too much. If anything it makes retrieving the oil all that much easier. Soon the GOM will be one big lake of oil that anyone can dip a bucket into.
That's progress baby.

Tue, 06/01/2010 - 14:07 | Link to Comment taraxias
taraxias's picture

One more time with feeling: the leak will stop when the reservoir empties

Tue, 06/01/2010 - 14:26 | Link to Comment depression
depression's picture

At the "official" flow rate, it will take 11 years to empty.

Tue, 06/01/2010 - 14:28 | Link to Comment SheepDog-One
SheepDog-One's picture

Taraxius yep that was the plan from the beginning. 

Tue, 06/01/2010 - 14:52 | Link to Comment ZerOhead
ZerOhead's picture

Or until just after the two new 'production' AKA 'relief' (for BP anyway...) wells are finished... whichever comes first!

Tue, 06/01/2010 - 14:09 | Link to Comment downrodeo
downrodeo's picture

from the NYT:

http://www.nytimes.com/2009/04/08/business/energy-environment/08greenoil.html

“We don’t oppose alternative energy sources and the development of those. But to hang the future of the country’s energy on those alternatives alone belies reality of their size and scale.”

this myth makes up the chains that bind us.

Don't believe me? We have cars that run on compressed air.

http://www.gizmag.com/go/7000/

 

Now, if BP wanted to, they could shift some r&d capital or even lobbying money into something like this. What do they do? They donate 500million to research better ways to create bio-fuels. Yep, that is what I call looking to the future. Makes me fucking sick....

"The EBI also will be dedicated to long-term research into the production of alternative fuels, converting fossil fuels to energy with less environmental damage, maximizing oil extraction from existing wells in environmentally sensitive ways, and finding ways to store or sequester carbon so that it does not get into the atmosphere."

http://berkeley.edu/news/media/releases/2007/02/01_ebi.shtml

 

 

 

 

Tue, 06/01/2010 - 14:27 | Link to Comment Zina
Zina's picture

Bio-fuels no. Solar. Concentrated solar power (CSP) is the future.

Tue, 06/01/2010 - 14:48 | Link to Comment chistletoe
chistletoe's picture

when you look at

the financial disasters

and the oil disasters

 

from a holistic point of view,

it may lead you to suggest donkeys as the most likely energy source for the future ...

Tue, 06/01/2010 - 14:48 | Link to Comment chistletoe
chistletoe's picture

when you look at

the financial disasters

and the oil disasters


from a holistic point of view,

it may lead you to suggest donkeys as the most likely energy source for the future ...

Tue, 06/01/2010 - 14:52 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Not going to read it, but wtf do you think compresses the air?  Compressed air is an energy store, just like a flywheel or a battery, nothing more.

Wed, 06/02/2010 - 10:33 | Link to Comment downrodeo
downrodeo's picture

So glad you asked. Oil is obsolete. How about ->>>>> http://www.permaculture.com/

Tue, 06/01/2010 - 14:12 | Link to Comment Soma
Soma's picture

BP should use bankers instead of golf balls to plug that hole.

Tue, 06/01/2010 - 14:22 | Link to Comment MyFriendMises
MyFriendMises's picture

+1

Tue, 06/01/2010 - 14:13 | Link to Comment earnyermoney
earnyermoney's picture

http://webchat.freenode.net enter #theoildrum and whatever handle you desire for nickname and you get real time chat of people making observations of video.

Tue, 06/01/2010 - 14:16 | Link to Comment demsco
demsco's picture

Come on, lay off them. Don't you think they want this thing plugged? They are getting their asses kicked over this and, frankly, we do not even know if it was their fault. No, we don't know, you think we know, but we don't now do we. It was RIG's ride and HAL's well head, right? RIG's insurance company is going to ante up about $1B that seems like they see RIG as having some culpability. I am not saying BP is innocent and they do have a terrible track record, but at the same time, who really thinks they are trying to fuck this up? You really want to blame someone? How about the President who had to, in his words, approve EVERY decision BP had to make before doing it and they changed the rules in regards to safety right before this thing happened. How about the fact that the environmental assholes do not want to drill on land, where it is significantly safer, or in shallow water because, get this, they are afraid of an oil spill. Guess what? It is easier to fix a spill on land or in a few hundred feet of water than in a mile of water.

 

My point is, this is a fuck up on many levels, not just BP's and for the love of Christ not everything is a crisis. This is just a bad accident and I am sure many people which is would end well.

Tue, 06/01/2010 - 14:21 | Link to Comment bada boom
bada boom's picture

I am sure that BP wants it plugged. 

What about the other majors and Obama?  Nothing like watching your major competitor drown in their own oil. 

Obama might use this spill to push through his cap and trade / green energy bills.

You know what they say, "never let an opportunity go to waste."

Tue, 06/01/2010 - 14:27 | Link to Comment carbonmutant
carbonmutant's picture

 +10

BP is putting everything they have on the line to fix this problem, Which is more than anyone else is doing.

Tue, 06/01/2010 - 14:48 | Link to Comment reading
reading's picture

If they had just put "everything they had" into making sure it didn't happen then we wouldn't be having this conversation.  BP pushed to cut corners, just because others went along for the ride doesn't make it somehow not their fault.

Tue, 06/01/2010 - 15:12 | Link to Comment bingaling
bingaling's picture

+100

Tue, 06/01/2010 - 16:24 | Link to Comment DaveyJones
DaveyJones's picture

So true but they do that because "we" let them. Oil companies tell our leaders when and how to drill, invade, regulate, de-regulate and finance elections.  

Tue, 06/01/2010 - 15:41 | Link to Comment Muir
Muir's picture

Really??!!!

 

____

Two BP refineries not only account for 97% of all "flagrant" violations in the U.S. refining industry, but most of the violations cited were classified as "egregious willful," according to a Center for Public Integrity investigation of Occupational Safety and Health Administration records.

In other words, BP's problems go way beyond the Gulf Oil Spill resulting from the April 20 explosion on the Transocean Deepwater Horizon rig, which killed 11 workers and imperils marine life throughout the Gulf of Mexico.

 

Here's a look at how those violations breakdown:

  • 760 egregious willful
  • 69 willful
  • 30 serious
  • 3 unclassified

OSHA contends that most of those were considered “egregious willful” violations, which means BP committed these with plain indifference to or intentional disregard for employee safety. _------- Now, why don't you and the previous poster that said this was an oportunity for Obama (who is at best inept) compare these stats with ehhh Mobil or Exxon for the same time period?

Tue, 06/01/2010 - 15:16 | Link to Comment seventree
seventree's picture

Of course BP wishes like hell this hadn't happened. They didn't intend it or expect it. All they did was avoid thinking about highly unlikely (but possible) worst case outcomes, rather than take extreme and expensive measures to prevent them.

A drunk driver never intends to run over someone's granny. But he gets in that car anyway. Afterward he is sorry as hell but granny is still roadkill. The point is not what he intended, but that he chose to drive impaired over the expense and inconvenience of leaving his car and taking a cab home.

Tue, 06/01/2010 - 16:29 | Link to Comment DaveyJones
DaveyJones's picture

and the difference? The drunk goes to prison

unless he's a rich sonofabitch then...we're back to the analogy

Tue, 06/01/2010 - 14:17 | Link to Comment Sudden Debt
Sudden Debt's picture

This will destroy offshore drilling.

 

I actually think the gov. will use this excuse to start running their own wells on gov. lands to fight the deficit, and all of this is just a excuse.

Tue, 06/01/2010 - 14:20 | Link to Comment RSDallas
RSDallas's picture

Any chance the White House or "others" and BP set all this up so the Obama administration could turn the US citizens against the oil companies to further his alternative energy & more precisely his CO2 emissions and cap and trade scheme?  Just asking?

Tue, 06/01/2010 - 15:20 | Link to Comment MaximumPig
MaximumPig's picture

YES, because "they" are that fucking smart!!!

Can't you tell by the awesome way "they" are handling the economy, Iran, Israel, North Korea and financial reform???

Tue, 06/01/2010 - 14:20 | Link to Comment Amsterdammer
Amsterdammer's picture

From the Oil Drum:

He (President Obama) said US Energy Secretary Steven Chu was leading a team of "the world's top scientists, engineers and experts" in devising a contingency plan should the "top kill" attempt fail.

Tue, 06/01/2010 - 17:58 | Link to Comment Carl Spackler
Carl Spackler's picture

That administration rhetoric is about as empty as "we're going to balance the budget by..." or "my administration will not be beholden to special interests" or "this administration will be the most transparent..."

It's a con game, and the POTUS is the top artist.

Can not believe a thing they say ala Goldman Sachs.

 

Tue, 06/01/2010 - 14:24 | Link to Comment Zina
Zina's picture

How many months more of oil spill we need to have all the oceans of Earth poisoned?

Tue, 06/01/2010 - 15:13 | Link to Comment Sudden Debt
Sudden Debt's picture

done deal already

Tue, 06/01/2010 - 14:26 | Link to Comment SheepDog-One
SheepDog-One's picture

So, markets up +300 then?

Tue, 06/01/2010 - 14:32 | Link to Comment sangell
sangell's picture

Nola.com article yesterday by Becky Mowbray noted that Obama's drilling moratorium is likely to cost LA. a lot more economically than any fishing industry losses.

Gulf shellfish annual production $650 million

Gulf oil and gas production $52 billion.

What is worse if the drilling moratorium isn't lifted and soon a lot of the drilling rigs and service equipment is going to move to Brazil, Africa or anywhere else offshore work is needed and it will take years to get it back. In a way we were quite fortunate the leak happened when it did as the Gulf was where the action was. BP was able to marshal the resources of RIG and get two deepwater platforms plus all the other ships on a moments notice. A year from now that might not be the case so we'd better not have another blowout.

Tue, 06/01/2010 - 14:38 | Link to Comment bada boom
bada boom's picture

Somehow I don't think they care about Gov Jindal's state.

Tue, 06/01/2010 - 14:33 | Link to Comment dot_bust
dot_bust's picture

I'm actually baffled as to why supertankers haven't been brought in to suck up the leaking oil and mitigate the damage. That's been standard operating procedure for spills like this since time immemorial. 

The only thing that I can think of is that Obama's advisors have been instructed to help overthrow him by steering him away from anything that would lessen the impact of the oil. Remember that it was only a short time after he gave the go-ahead for drill-baby-drill that BP's oil platform exploded. This smells of a set-up.

Of course, if Obama had any brain at all, he'd fire his entire cabinet, seize BP, and bring in all the international experts and resources he could muster. 

 

Tue, 06/01/2010 - 14:51 | Link to Comment Me XMan
Me XMan's picture

Eat your own making until you blow up. That's the game right now.

Tue, 06/01/2010 - 19:38 | Link to Comment Bow Tie
Bow Tie's picture

sounds good, you'd have to be a leader to do that stuff though.

Tue, 06/01/2010 - 14:38 | Link to Comment bingaling
bingaling's picture

Like I said on the last oil post _ They tried to drill this spot twice already both times were disasters /failures - now they are going in for a third time but we wont know til august if the relief well works until at least august .

I have a feeling the second well was already an attempt to relieve the first and now we have this third try where they are trying to drill 2 relief wells . sounds like 2 more holes will be leaking oil into the gulf soon.

Tue, 06/01/2010 - 14:40 | Link to Comment Xibalba
Xibalba's picture

dot,

 

perhaps all the available tankers are parked, already full, off the coast of Somalia

Tue, 06/01/2010 - 14:45 | Link to Comment depression
depression's picture

White House press briefing (6/1/10 2:30 PM):

Question: Why is the President distancing himself from BP ?

Answer (Press Sec. Gibbs): "It's not our well ! "

Tue, 06/01/2010 - 14:48 | Link to Comment Me XMan
Me XMan's picture

Who chanted "Drill! Baby! Drill!"? I think Gov't let BP eating their own making.

Tue, 06/01/2010 - 14:50 | Link to Comment earnyermoney
earnyermoney's picture

Question: Have you returned BP's campaign contributions?

 

Answer Gibbs: "It's not our well!"

Tue, 06/01/2010 - 15:17 | Link to Comment Sudden Debt
Sudden Debt's picture

I guess Sarah will never be president after all...

damn... nice tits....

http://thecount.com/wp-content/uploads/sarah_palin_film_4.jpg

Tue, 06/01/2010 - 14:47 | Link to Comment Jake Lamotta
Jake Lamotta's picture

This situation makes you wonder what the bible talks about in the last days," floods, earthquakes, natural disasters, & BP oil spill due to incompetence".

Wed, 06/02/2010 - 06:07 | Link to Comment Clancy
Clancy's picture

Good on you for keeping up on your Bible study, heretic.

Rev 8:11

And the name of the star is called Wormwood: and the third part of the waters became wormwood; and many men died of the waters, because they were made bitter.

 

Tue, 06/01/2010 - 14:51 | Link to Comment Problem Is
Problem Is's picture

Let me write that headline:

It's Official: Another Obummer Failure -- Efforts To Inset a Spine Over
The Obummer administration continued its do nothing policy on the BP disaster dismissing comparisons to Katrina and Chernobyl.

Administration officials indicate Obummer is hoping propaganda press releases claiming:

1. "Attaboy Kennie" Salazar getting tough with BP executives...
(HA HA HAH ha ha...)...
2. Fabricating and low balling oil leak numbers and...
3. The standard "I'm outraged" statements...

Can fool the Amerikan public one more time until the whole BP thing blows or sludges over...

Tyler, I am telling you...
I have talent for these things...

And my writing is only slightly less absurd than Obummer or the corporate whore media...

Tue, 06/01/2010 - 15:17 | Link to Comment Sudden Debt
Sudden Debt's picture

BECAUSE HE CAN!

Tue, 06/01/2010 - 14:53 | Link to Comment frosty zoom
frosty zoom's picture

put on a sweater.

 

Tue, 06/01/2010 - 14:53 | Link to Comment curbyourrisk
curbyourrisk's picture

So...Obama is pissed off.  Well, whatcha gonna do about it jackass???

Tue, 06/01/2010 - 18:02 | Link to Comment Carl Spackler
Carl Spackler's picture

"Well, we're waiting."

  - Ted Knight as Judge Smails

Tue, 06/01/2010 - 14:59 | Link to Comment midlevex@gmail.com
midlevex@gmail.com's picture

BBC inteviewed oil industry expert who claimed BP could use the Russian nuke technique of shutting down the well and further, it could be done with conventional, non-nuke explosives. Essentially the directed explosive force would crimp and collapse the well. Further claimed BP was not considering employing this technique because they lose any hope of bringing the well to production. Hard to entertain the credibility of this claim as the disaster grows in scope... yet perhaps...

Tue, 06/01/2010 - 15:00 | Link to Comment jkruffin
jkruffin's picture

So now, Obama will threaten Congress to pass the clean green energy bill and get Benny to print another Trillion dollars to fund it.  How convenient.  Welcome to Government 101.

Tue, 06/01/2010 - 16:11 | Link to Comment Inspector Asset
Inspector Asset's picture

That makes since!  What better way to introduce carbon credits and have Ben pay for it.

The public is to stupid to understand Carbon Credits, so the the oil spill(intentional or not) makes it easy to push this bag of garbage(reform) over the tube. 

Whatch for the oil spill story to be used, over and over again, as a reason to pass carbon credits.

Tue, 06/01/2010 - 15:11 | Link to Comment Blues Traveler
Blues Traveler's picture

Change you can lose your mind over.....

CAM, RIG,Mitsui (8031), APC, HAl, BP market cap value loss is monster, over $70 Bill.  Buying opportunity or falling piano?

 

Tue, 06/01/2010 - 15:19 | Link to Comment Sudden Debt
Sudden Debt's picture

Wait for them to have at least 3 green days, and then only then you might concider stepping in.

Only catch the knifes when they've already bounced once on the floor.

Tue, 06/01/2010 - 15:15 | Link to Comment gtown2007
gtown2007's picture

Interesting, found this via www.wallstbeat.com, which is a Digg-like site for finance / investment news.

Tue, 06/01/2010 - 15:16 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

"Corexit EC9500A is mainly comprised of hydrotreated light petroleum distillates, propylene glycol and a proprietary organic sulfonic acid salt.[8] Propylene glycol is a characteristic contaminant of surfactants containing poly(propylene glycol) structures."

What I'd like to know is what the fuck that sulfonic acid salt is, specifically, because many chemical combos in the sulfonic acid line are corrosive enough to eat through metal and are very, very toxic if burned. 

Tue, 06/01/2010 - 15:26 | Link to Comment chet
chet's picture

Remember when CEOs used to resign or be fired when there was a huge value-destroying fuck-up at a corporation?  How quaint.

Tue, 06/01/2010 - 15:28 | Link to Comment Sudden Debt
Sudden Debt's picture

Once huricane season starts, he'll be ready to do so when costs go through the roof

Tue, 06/01/2010 - 16:03 | Link to Comment WaterWings
WaterWings's picture

LOL great point. It took well over a month for Holder to do his job. Can't put CEOs away if no one actually investigates.

Tue, 06/01/2010 - 15:57 | Link to Comment Arthur
Arthur's picture

Now we know why Al Gore has been absent from the BP crisis.

NASHVILLE, Tenn. – Former Vice President Al Gore and his wife, Tipper, are separating after 40 years of marriage 

http://news.yahoo.com/s/ap/us_gore_separation

Tue, 06/01/2010 - 16:06 | Link to Comment Inspector Asset
Inspector Asset's picture

Gives whole new meaning to

"Beyond Pertro"

 

Does any one suspect Banker sabatoge or does everything in this world happen by accident?

Why hasn't this put alot of pressure on the price of oil?  Last I remembered it is a  scrace resource. 

Goldman Sachs took BP public, serves them right! 

 

Tue, 06/01/2010 - 16:10 | Link to Comment metastar
metastar's picture

Top-Nuke Baby!

Tue, 06/01/2010 - 18:02 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

I finally figured out wtf was going on thanks to the Oil Drum MIRC (thanks to the earlier poster of that here).

They're going to try a lower marine riser package (LMRP), which involves first cutting off the riser attached to the blowout protector as cleanly as possible, and then attaching a cap of sorts to it.  How much oil continues to leak out depends on how clean the cut was on the riser, and consequently how good the seal is.

After reading all the data, I was left highly non-confident that they were even going to be able to get the damn thing attached. 

Tue, 06/01/2010 - 20:23 | Link to Comment Buck Johnson
Buck Johnson's picture

The cap and the floating BOP over the old BOP won't work.  One, once they get this riser cut from the top of the head (which is bent to the side mind you), they will have to cap it and the flow from the oil will be pushing the cap like a hurricane even with rover help.  Two, the BOP (blowout preventer) is designed to be on the bottom and using the bottom as support.  So by having the other BOP hanging in mid-ocean trying to control all that pressure with a hose like connection connected to the cap at one end and the 4,900 feet of pipe going to the boat at the other end of the BOP will eventually break one or the other connections.  Because it will have no support just hanging mid ocean under pressure, along with it's weight (moving from side to side) and the pull of gravity to the bottom and the pressure from the oil and gas.  If this was such a hot idea, why didn't they do this instead of using that 10 story dome.

 

It's because they don't know what to do and they are finally at the end of their ropes.  Thats why there are more comments about the relief wells and the possibility of this lasting longer and putting more resources into the clean up.  And the relief wells are touch and go also, because all of these things being introduced have NEVER NEVER BEEN DONE AT A MILE UNDERWATER.  And as they commented that the mud was going between the pipe and the rock of the hole, tells me that the pipe and cement is getting worn down and there is a possibility that the funnel oil hole is getting widened from the oil and gas and rock being shot through the system underground.  If where not careful, the old BOP may fall to one side or in on itself from the widening hole.

Do NOT follow this link or you will be banned from the site!