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"Disappeared" Spilled Gulf Oil Discovered, Found Residing On Bottom Of GOM

Tyler Durden's picture




 

In recent weeks the administration has been fanfaring the tremendous success of discovering far less spilled oil in the GoM than one would expect. The fallacious conclusion dervied from this "fact" by Obama's henchmen is that the oil just went poof and disappeared, with even the president going spelunking in the GoM to prove just how safe it was. Well, we hope he didn't step on the ocean floor, because a new report by ABC discloses that "miles of oil is sitting on the bottom of the Gulf of Mexico." It gets worse: 'Professor Samantha Joye of the Department of Marine Sciences at the University of Georgia, who is conducting a study on a research vessel just two miles from the spill zone [ZH: and must have been one of the +/- 2 US marine scientists who were not put on BP's payroll in the last two months], said the oil has not disappeared, but is on the sea floor in a layer of scum. "We're finding it everywhere that we've looked. The oil is not gone," Joye said. "It's in places where nobody has looked for it." So yes, if one was wondering why the administration is not finding oil... perhaps looking for it where it actually is may help.

More from ABC News (no, not some doomsayer fringe blog):

All 13 of the core samples Joye and her UGA team have collected from the bottom of the gulf are showing oil from the spill, she said.

In an interview with ABC News from her vessel, Joye said the oil cannot be natural seepage into the gulf, because the cores they've tested are showing oil only at the top. With natural seepage, the oil would spread from the top to the bottom of the core, she said.

"It looks like you just took a strip of very sticky material and just passed it through the water column and all the stuff from the water column got stuck to it, and got transported to the bottom," Joye said. "I know what a natural seep looks like -- this is not natural seepage."

In some areas the oily material that Joye describes is more than two inches thick. Her team found the material as far as 70 miles away from BP's well.

"If we're seeing two and half inches of oil 16 miles away, God knows what we'll see close in -- I really can't even guess other than to say it's going to be a whole lot more than two and a half inches," Joye said.

This oil remaining underwater has large implications for the state of sea life at the bottom of the gulf.

Joye said she spent hours studying the core samples and was unable to find anything other than bacteria and microorganisms living within.

"There is nothing living in these cores other than bacteria," she said. "I've yet to see a living shrimp, a living worm, nothing."

The poor president: walking on 2 inches of oil, eating 93 octane shrimp, all just to prove to his gullible voters that all is well. We are starting to fear for his health.

And some more revalations about the administration's disgusting handling of the media circus surrounding the oil spill, via the Associated Press (read the full story at this link):

WASHINGTON – The federal government hired a New Orleans man for $18,000 to appraise whether news stories about its actions in the Gulf oil spill were positive or negative for the Obama administration, which was keenly sensitive to comparisons between its response and former President George W. Bush's much-maligned reaction to Hurricane Katrina.

The government also spent $10,000 for just over three minutes of video showing a routine offshore rig inspection for news organizations but couldn't say whether any ran the footage. And it awarded a $216,625 no-bid contract for a survey of seabirds to an environmental group that has criticized what it calls the "extreme anti-conservation record" of Sarah Palin, a possible 2012 rival to President Barack Obama.

The contracts were among hundreds reviewed by The Associated Press as the government begins to provide an early glimpse at federal spending since the Gulf disaster in April. While most of the contracts don't raise alarms, some could provide ammunition for critics of government waste.

The administration has released details of about $134 million in contracts, a fraction of the hundreds of millions of dollars it has spent so far. BP has reimbursed the U.S. $390 million, company spokesman Tom Mueller said. The government sent BP a new invoice for $128.5 million last week.

The White House is still deciding whether it will bill BP for spill-related trips by Obama and his wife, Michelle, to the Gulf, including the president's flights aboard Air Force One, which can cost tens of thousands of dollars each.

The contracts the government has disclosed so far include at least $5.8 million for helicopter services, $3.2 million for hotel rooms, $1.4 million for boat charters, $33,000 for oil-measuring devices aboard ships, $441,621 for cellular and satellite phone services, $25,087 for toilets, $23,217 for laundry services and $109,735 for refrigerators and freezers.

Yet the government's new contracting data includes errors and vague entries that make it difficult to identify wasteful spending. It spent $52,000 on a boat charter described merely as "marine charter for things," with no further explanation. A separate $90,000 contract for a single 70-pound anchor is listed incorrectly; the contractor told the AP it actually supplied hundreds of anchors.

A White House spokesman, Ben LaBolt, declined to comment on the contracts.

Among all the contracts, perhaps none is more striking than the Coast Guard's decision to pay $9,000 per month for two months to John Brooks Rice of New Orleans, an on-call worker for the Federal Emergency Management Agency, under a no-bid contract to monitor media coverage from late May through July.

Rice told the AP that he compiled print and video news stories and offered his subjective appraisal of the tone of the coverage.

"From reading and watching the media I would create reports," he said. "I reported either positive coverage, negative coverage, misinformation coverage."

The Coast Guard provided the AP with a copy of two of Rice's printouts of news stories but didn't respond to a request for copies of his reports rating the tone of news stories. Rice said he had already deleted them. The AP requested copies of all Rice's reports under the Freedom of Information Act but hasn't received them.

The Coast Guard expects BP to reimburse the $18,000, Coast Guard spokesman Capt. Ron LaBrec said.

The Coast Guard said it didn't ask for competitive bids because it urgently needed the work done. In the newly released federal data, the government didn't disclose Rice's name, instead misidentifying him as "miscellaneous foreign contractors."

Such contracts have caused problems for the government in the past. The Obama administration abandoned a $1.5 million contract in August 2009 with a public relations firm, Washington-based Rendon Group, that assessed work by journalists for the Defense Department before embedding them with troops in Afghanistan. And the Clinton administration in 1995 ordered Energy Department officials to cancel a $46,500 contract with a consulting company, Carma International, that ranked reporters who covered the agency, a practice that the White House concluded was "unacceptable and will not be tolerated."

Rice said he wasn't on duty for FEMA or drawing a government salary when he worked for the Coast Guard. He monitored news coverage for FEMA during the Hurricane Katrina disaster, and a former FEMA co-worker recommended him for the Coast Guard contract, he said.

The head of a public relations firm in Baton Rouge, La., John T. Rice of Common Sense Communications, questioned the wisdom of the government spending $18,000 to track coverage of the spill, particularly in the Internet age when stories can be monitored easily online.

 

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Mon, 09/13/2010 - 13:49 | 578770 NOTW777
NOTW777's picture

derek zoolander school for obamites who cant find oil good

Mon, 09/13/2010 - 16:45 | 579254 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

magic shrimp trick, switcharoo. right, zerØbama ate the shrimp raw, from the bottom of the oil spill floor of the GOM. you shouldn't fear for his health, but for his fate and destiny.

Mon, 09/13/2010 - 13:48 | 578772 redpill
redpill's picture

Out of sight, out of mind.  God bless Corexit.

Mon, 09/13/2010 - 15:12 | 579002 Dirtt
Dirtt's picture

Bite your tongue.  Bless Corexit?

I'm all for satire but the Gulf Of Mexico is worse than sewage.  We are way beyond laughing matters.

Mon, 09/13/2010 - 16:10 | 579136 redpill
redpill's picture

 

Au contraire, the most sinister aspects of the worst sculptures are most clearly visible when exposed with the sharp chisel of dark satire.  We need it now more than ever.

 

Mon, 09/13/2010 - 16:07 | 579162 Battleaxe
Battleaxe's picture

Is the name Corexit supposed to be derived from "Corrects It" or "Core Exit"?

Probably the latter, because once consumed it makes your bowels drop out of your a**hole!

Mon, 09/13/2010 - 16:47 | 579259 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

G R O S S

death by bowel droppage.

Mon, 09/13/2010 - 21:36 | 579746 thesapein
thesapein's picture

My Latin isn't the best, but:

cor = heart

exit = death

Some of us were warned.

Mon, 09/13/2010 - 13:49 | 578776 LoneStarHog
LoneStarHog's picture

The only thing that went POOF! is Matt Simmons.

Mon, 09/13/2010 - 13:50 | 578778 spoutinghorn
spoutinghorn's picture

Isn't unrefined crude a natural substance?  Doesn't crude oil naturally "leak" from the ocean floor?

Mon, 09/13/2010 - 14:01 | 578811 merehuman
merehuman's picture

Gee, doesnt oil just naturally float on top!?

Mon, 09/13/2010 - 14:25 | 578877 Cognitive Dissonance
Cognitive Dissonance's picture

Nice to see you around MH.

That's what the BP shills constantly told us as they bemoaned our stupidity and illogical reasoning skills. Not to mention all the conspiracies we endlessly discussed, like plumes of oil in the GOM and the sea bottom covered in oil.

Personally I would like to water board a few of them with Quaker State 5W-30 to see if they can also eat it like all those microbes they talked so much about.

Mon, 09/13/2010 - 15:13 | 579005 Dirtt
Dirtt's picture

If we aren't going to chop their heads off then perhaps castration is the perfect consolation.

Mon, 09/13/2010 - 16:23 | 579202 goldfish1
goldfish1's picture

Is "chopping off the heads of their offspring" too much dark satire?

Mon, 09/13/2010 - 21:25 | 579730 defender
defender's picture

The reason that the oil sinks is that the lighter compounds are more mobile and water soluble.  As the light compounds mix with the cor-exit (which is covering the outside of the blob) little droplets come off and dissolve/float to the surface.  As more light compounds leave the oil mass, the density increases until the whole thing sinks to the bottom.  The large amount of sand that was in the oil when it came up just speeds the whole process up.

I can't imagine that this wasn't anticipated.  The entire underwater mass that was floating towards Florida is most likely no longer floating.

Mon, 09/13/2010 - 14:05 | 578822 thesapein
thesapein's picture

You didn't read the ABC article. Go read it, then come back, and maybe say something nonsensical. 

Mon, 09/13/2010 - 14:14 | 578847 Joe Sichs Pach
Joe Sichs Pach's picture

When I was in NO (pre-Katrina) everything down there seemed to be immersed in petroleum.  From the smell in the air to the feel of the water it felt like oil was everywhere.  Sure, it's a massive over-simplification, but from what I saw the entire area just oozes oil. 

 

I may not have the expertise of Dr. 'Mandy' on this (http://www.marsci.uga.edu/directory/mjoye.htm) but like CAPTCHA says:

Professor + Oil (typically) = Agenda

 

I don't question for a minute that the oil isn't still out there (where the hell else would it go?) but the place has been leaking oil for a lot longer than we've all been here.  Un-natural seepage or not, my guess is the world will go on....for now.

Mon, 09/13/2010 - 14:45 | 578935 thesapein
thesapein's picture

Ah, the old omnipresent musk of New Orleans... I remember, too. But that was from being at the mouth of the Mississippi, not your 6th sense or hallucinations of a entire city covered in oil.

I would caution against ignoring scientists simply because they work at universities. Private scientists may be better in some ways, but you're handicapping yourself if you ignore any one else with a differing agenda and morality.

Mon, 09/13/2010 - 15:04 | 578987 Eureka Springs
Eureka Springs's picture

 

I went down to NOLA a couple of weeks into it.. stayed with the president of the United Commercial Fisherman, spoke with many fisherman who were out there every day, and we scoured hundreds of miles as close to the shore as possible. To compare the state of ooze and fumes before the spill to what happened during is beyond absurd. As alarming as the toxins in the air and the instant sickness it caused (dispersants or fumes from the volcano itself, or both, I couldn't say) were, the overwhelming show of force from military to every conceivable branch of police, guard, Barney Fife from multiple states and game and fish set up to protect BP and Haliburton was astonishingly fascist.

The very fact we know so little and that anyone could claim what the President claimed ( I don't see it so it's not there) proves what readers here know about the state of both our government and media today.

 

Just like the banksters there should be scores of top of oil men lined up in orange jumpsuits and even more so the government officials who help cover this all up. Cynical as I am I am still amazed at how well this all went for the three - media, gov., corporations.

 

Mon, 09/13/2010 - 15:17 | 579013 ZackAttack
ZackAttack's picture

That place is like a steambath in a sewer 8 months out of the year. The smell of petroleum was likely to be an improvement.  

Mon, 09/13/2010 - 15:17 | 579016 Dirtt
Dirtt's picture

No shit.  If the world were going to stop - moron - don't you think we'd know by now?

Professor + Oil = Agenda?  Yeah. Especially the ones who take money from BP

Scientists + Empirical data = Evidence

Not every human being is a sell out like you.

Mon, 09/13/2010 - 13:50 | 578780 RobotTrader
RobotTrader's picture

More proof that "Peak Oil" is a myth.

Sheesh, its gushing out of control, that one reservoir alone had so much pressure that it took months to cap it.

Now we have huge blobs of it floating underwater in the GOM.

Who knows how many more gushers are out there waiting to be tapped.

Mon, 09/13/2010 - 14:06 | 578830 Internet Tough Guy
Internet Tough Guy's picture

And if a water pipe in your house bursts it's prove that you live on a lake. Silliest arugument4eva. 

Mon, 09/13/2010 - 14:18 | 578857 Shameful
Shameful's picture

 How did all those dead dinosaurs get down under the gulf anyway?  Seems like there must have been a lot of them to make all this oil...

Mon, 09/13/2010 - 18:16 | 579432 Jerome Lester H...
Jerome Lester Horwitz's picture

Better yet, how did all those dinosaurs travel to other planets. Isn't it odd that hydrocarbons are created naturally on other planets and celestial bodies but here on Earth they are created by dead dinosaurs?

http://www.universetoday.com/12800/titan-has-hundreds-of-times-more-liquid-hydrocarbons-than-earth/

http://www.semp.us/publications/biot_reader.php?BiotID=182

Mon, 09/13/2010 - 20:35 | 579653 MichaelG
MichaelG's picture

Those are only very simple ones like methane (1 carbon atom, 4 hydrogens) or ethane (2 C, 6 H), rather than crazy long-chained and/or ringed molecules like you get in crude on Earth. So basically the dinosaurs synthesised the more complex ones in early undersea laboratories before leaving in giant spaceships about 4,000 yrs ago.

Mon, 09/13/2010 - 14:15 | 578849 BorisTheBlade
BorisTheBlade's picture

More proof that "Peak Oil" is a myth.

Struggling to understand the logic, if anything the Gulf Oil disaster is a perfect reinforcement of Peak Oil theory - easily accessible oilfields are drying out and oil companies have to drill underwater in very complex geologic conditions with much higher risks and exploration costs. On top of that, you have a collateral damage in the form destroyed sea life, which is not only a concern for environmentalists, but for all those working in the coastal areas.

All in all, oil is becoming more and more expensive and market price of the barrel of it is just a fraction of the real cost.

Mon, 09/13/2010 - 14:30 | 578893 RecoveringDebtJunkie
RecoveringDebtJunkie's picture

And let's not forget the fact that the entire Macando resoirvoir would satisfy global oil consumption for a whole 12 hours!

Mon, 09/13/2010 - 14:26 | 578879 Zero Debt
Zero Debt's picture

yeah...peak oil "bottomed" out finally...

Mon, 09/13/2010 - 14:27 | 578885 Cognitive Dissonance
Cognitive Dissonance's picture

It's official. RobotTrader has been kidnapped and his/her ZH ID hijacked.

Mon, 09/13/2010 - 14:57 | 578966 BorisTheBlade
BorisTheBlade's picture

It's too bad, I'll miss those graphs and girls he used to post. I don't know what more of the two: http://www.zerohedge.com/article/green-shooting-girls-who-are-less-bad

Mon, 09/13/2010 - 16:57 | 579275 kathy.chamberli...
kathy.chamberlin@gmail.com's picture
by Cheeky Bastard
on Fri, 08/07/2009 - 18:42
#29927

 

not true, look more closely. i have cursed, insulted people, been a bigot and wrote in a foreign language and all my posts are still there ... check again ...

 

graphs, girls and cheeky.

Mon, 09/13/2010 - 18:21 | 579439 BorisTheBlade
BorisTheBlade's picture

yes, Cheeky, probably the best thing that happenned to zh.

Tue, 09/14/2010 - 09:22 | 580345 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

past tense. i want him p r e s e n t tense.

B nice, anyway.

Mon, 09/13/2010 - 14:58 | 578972 RoRoTrader
RoRoTrader's picture

No worry CD, she is all tied up.......I have a pair of scissors and am about to cut the bra straps........too bad I cannot share with you, but this is all mine. HaHa!

Mon, 09/13/2010 - 14:30 | 578894 thesapein
thesapein's picture

I'm not sure I understand what peak oil means. Doesn't it have more to do with the pacing of producers vs consumers and less to do with what's known to exist. The process of finding and extracting oil is taking longer, these days, than the rate at which it is used, right?

And why are we always talking about peak oil and not peak other things, like gold?

Mon, 09/13/2010 - 14:41 | 578928 Cognitive Dissonance
Cognitive Dissonance's picture

Regarding Gold, of all the Gold mined and refined each year, very little is actually "consumed" but is instead hoarded. And much of what is "consumed" is recycled.

It's been estimated that over 90% of all the Gold mined since man starting playing with shinny objects still exists today in the form of jewerly, bullion, coins etc. Can't say the same thing about oil and other commodities that are produced to be "consumed".

Mon, 09/13/2010 - 14:56 | 578967 thesapein
thesapein's picture

Great! We'll never run out of gold!

There's more than enough for everybody?

Mon, 09/13/2010 - 15:15 | 579009 Cognitive Dissonance
Cognitive Dissonance's picture

Didn't say that. All I said was that it isn't "consumed" in the same manner as oil or food. The world's economic system depends upon oil at "reasonable" prices. The world doesn't require Gold to conduct business..........at least not yet.

I've been studying the history of Gold from non traditional sources. Man's attraction to Gold goes back 10's of thousands of years, not the five thousand (back to Egypt) we are taught. There are some interesting theories about Gold being quite abundant deeper down in the earth.

Mon, 09/13/2010 - 17:15 | 579313 thesapein
thesapein's picture

Okay, but that kind of goes without having to say it, for me.

About our ancient history, the Egyptians, Greeks, etc., were post-civilizations that sprang up after rising sea levels and floods wreaked havoc on the greater civilizations that came before. The story is told to us, over and over again, from ancient writings, and now we have geological evidence, underwater "dig" sites, an understanding of ice ages, and, well, a lot of things are coming together to reveal stuff like that the Sphinx's head was originally the same as the leo body and built over 10 thousands years ago.

What's that about more gold below? That one is new to me.

Mon, 09/13/2010 - 19:52 | 579590 tip e. canoe
tip e. canoe's picture

you referring to the Abzu?  if so, that's quite a deep wormhole you jumped into, especially when you consider it's the same area where the homo sapiens evolved.

Mon, 09/13/2010 - 15:16 | 579010 redpill
redpill's picture

In short, yes.  If it is primarily used for ornamental items or a store of wealth, you don't need to have an ever-increasing rate of new supply because you can keep using the same gold.  Even if the face of a rising population, it just means the gold itself becomes more valuable, making it even less likely to be consumed for an industrial or consumable purpose.

That's the primary difference between gold and oil.  Oil is consumed almost immediately, and for a vast array of products.  Once the speed of the consumption conveyor gets going faster than the production conveyor, a demand/supply imbalance can occur very quickly causing rapid price volatility.  We've gotten a bit of a relief since the days of $150 barrel oil because the global economy collapsed and demand went down.  But it's only a matter of time before we re-test the oil price ceiling; it's inevitable.

I think people get confused about Peak Oil and what the more immediate ramifications are.  It's not a matter of the "world running out of oil" that should be on anyone's mind.  There are vast amounts of oil under the ocean and elsewhere that have not yet been discovered.  The problem is that it takes an INCREASING AMOUNT of time and money to get to the new deposits.  This means it is likely the trajectory of oil production has already peaked globally sometime in the last couple of years.  We haven't realized the ramifications of that yet, because global economies have been so weak.  

As western civilization declines and reorganizes, and emerging economies become the dominant source of economic growth, there will be a new struggle for resources, primarily oil.  The process of finding replacements for many of the oil-based products and fuels we buy is going to be a long one, and essentially it hasn't really begun in earnest.  Which means there is going to be a tumultuous period of oil scarcity that will push up prices and create all kinds of problems for various economies. 

The US is in a particularly bad situation, because we are not likely to see very robust growth here any time soon, and yet we will see oil prices rise just the same because there WILL be vigorous growth in other parts of the world that do not have the same demographic challenges, unfunded and unsustainable social program liabilities, and structural sovereign, state, local, and private debt problems we do.

Mon, 09/13/2010 - 15:34 | 579051 -273
-273's picture

Well explained regarding the oil/economic situation. As I guess you know, the Hirsch report outlines what you wrote in more detail. Cheney's energy task force report which is still confidential despite many attempts to free it probably painted an even bleaker picture.

http://en.wikipedia.org/wiki/Hirsch_report

Mon, 09/13/2010 - 17:55 | 579390 Ned Zeppelin
Ned Zeppelin's picture

I actually have a fragment of the transcript of the Cheney Energy Task Force proceeding, but it's only the very end - still, it paints a tantalizing picture:

<inaudible>

"OK, then, it's unanimous - we invade Iraq. Now where's a motion to adjourn to the Tombs for a frosty one?"

"So moved."

"Second."

"All in favor?"

(in unison) "aye"

"Get me the <inaudible> out of here."

 

 

Mon, 09/13/2010 - 17:35 | 579353 thesapein
thesapein's picture

That sounds like the long version of what I was saying on oil, so agreed.

However, about gold, the actual situation is just too obvious for people to notice. If you think about it, peak gold already came and went. This is why it is "horded." Otherwise, it would be trading with silver as an industrial metal and also not be recycled. We'd be seeing it used in electronics, building materials, decor, and less use of the inferior metals. After peak silver is fully realized, silver will also be "horded" and kept on reserve during this production cycle.

Anyone else see big oil reserves as an ominous sign of hording?

Mon, 09/13/2010 - 20:55 | 579675 tip e. canoe
tip e. canoe's picture

"making it even less likely to be consumed for an industrial or consumable purpose."

that is unless the boys of brookhaven have stumbled upon "something wonderful"

http://opa.yale.edu/news/article.aspx?id=7358

 

Tue, 09/14/2010 - 09:29 | 580372 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

more studies to find out, we aren't in control of the universe. carry on, chaps

Tue, 09/14/2010 - 12:15 | 580870 tip e. canoe
tip e. canoe's picture

true dat, but study above may help explain WHY gold has held such an allure across human societies throughout recorded HIStory.

Tue, 09/14/2010 - 14:04 | 581234 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

HERstory

 

When the gold nuclei, traveling at 99.999% of the speed of light, smashed together, the plasma that resulted was so energetic that a tiny cube of it with sides measuring about a quarter of the width of a human hair would contain enough energy to power the entire United States for a year.

powerful stuff

Tue, 09/14/2010 - 16:20 | 581602 tip e. canoe
tip e. canoe's picture

well HIStory was intentional in this case.  question is, what was before HIStory?   and does gold have something to do with the transition into HIStory? 

Tue, 09/14/2010 - 16:59 | 581699 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

ok, you win

HIStory

of course it does, man's obsession with gold. damn, ZH's obsessiveness with all things

G O L D

telling, as far as tangible somethings, and transitions into her/history.

you betcha, bitchez. ;-)  ;-)

 

Mon, 09/13/2010 - 17:27 | 579341 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

yeah, finally jewerly (did u mean 2 misspell) is listed first in one of their sentences pertaining to gold.

cause those kings knew their priorities to the woman in the house. oh and probably the gods knew what the goddesses demanded for storage of real wealth showing love or else when they had affairs. like the italians, always gave to wifey, golf jewelry when they have affairs. damn ZEUS probably really had to have a lot of gold jewelry crafted for his children's various mothers.

Mon, 09/13/2010 - 17:42 | 579371 thesapein
thesapein's picture

lol, to me, saying that gold is used in jewelry is kind of like pointing out that gold is used to make coins. Jewelry is just about the best way to store your wealth. It's not just a sign of wealth; it kind of is wealth. Sure, coins are more easily traded, but sometimes they all start to look alike and get boring. Jewelry gives you meaning and art, embedded in your family's wealth. 

Mon, 09/13/2010 - 18:24 | 579441 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

oh, that was very eloquently put, beautiful, mr sapein.

Mon, 09/13/2010 - 19:12 | 579511 thesapein
thesapein's picture

It convinced me as I wrote it. I'd never really thought of jewelry this way, nor am I sure where I got the idea (...looking at my pipe...).

Mon, 09/13/2010 - 19:23 | 579532 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

inspiration from below.

Mon, 09/13/2010 - 19:04 | 579492 Dr. Sandi
Dr. Sandi's picture

It's been estimated that over 90% of all the Gold mined since man starting playing with shinny objects still exists today in the form of jewerly, bullion, coins etc. Can't say the same thing about oil and other commodities that are produced to be "consumed".

Apparently, over 90% of the holiday fruitcake ever produced since grannies started making the things, is still in existence today. It is simply passed around, never being consumed.

And yet, we never hear about 'Peak Fruitcake.'  

 

(okay, insert Barney Frank joke here)

Tue, 09/14/2010 - 09:31 | 580377 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

nuff said†

Mon, 09/13/2010 - 14:47 | 578943 AnAnonymous
AnAnonymous's picture

Because oil is at the root of all. This is an oil based civilization.

There is a gold peak, actually more advanced than oil's.

In the western world, a mythology has grown on men overcoming their environment. This capability is what explained the success of the Europeans. Others were stuck in their environment. Europeans managed to overcome their own.

This is the underlying story. It curtails heavily the acception of peak oil and any other peak stories. Peak oil is already too much in this context, dont expect other peaks to be broadly told about.

Mon, 09/13/2010 - 14:50 | 578946 RichardP
RichardP's picture

Peak Oil loosely = oil is being consumed faster than it is being produced by oil wells.

Since oil is used in the production and transportation of food, and gold is not so much, a reduction in the availability of oil is of more immediate concern.  Or so the story goes.

Mon, 09/13/2010 - 15:03 | 578982 thesapein
thesapein's picture

Nice dis-qualifier at the end there 'cuz I was gonna ask next, how does one trade for food? Not using oil.

Mon, 09/13/2010 - 20:22 | 579636 RichardP
RichardP's picture

There has been much talk on this board over the last couple of days about peak oil.  I was loosely summarizing the conversation, in response to your general question about oil vs. gold.

Seems to me there are many more ways to trade for food than there are ways to get energy to produce and transport that food from field to refrigerator.  When I was young, I was around farms that produced a good bit of food using little to no oil.  And I was around folks who traded things for food - using little to no oil.  It can be done easily on a small scale.  Probably not so much on the level of production we need now.  Some say the solution is to take millions out of the cities and turn them into farmers.  I ask, how are we going to get sufficient land away from the corporations?

Mon, 09/13/2010 - 20:56 | 579679 tip e. canoe
tip e. canoe's picture

others say a solution is to make farms on top of the cities.

Tue, 09/14/2010 - 12:25 | 580911 thesapein
thesapein's picture

Hey, remember electricity? Build a hydro or nuclear or whatever power plant, slap a grid on it, make everything electric, and you're good to go. Who needs oil? Sure, it's cheap. But so was firewood. Peak firewood didn't stop us.

Tue, 09/14/2010 - 14:08 | 581248 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

Peak firewood, yeah, the pine beetle is helping out.

Mountain pine beetle - Wikipedia, the free encyclopedia
Mon, 09/13/2010 - 17:07 | 579293 Sabibaby
Sabibaby's picture

Thank you, and to add to that, "Peak Oil" isn't about running out of oil but more the amount of energy required to get to the oil and extract it.

EROEI = Energy Returned On Energy Invested.

This stuff isn't cheap to get to any more, not like the the days of Texas and Saudi Arabia, the easy stuff is gone, we need to put a lot more work into getting it now.

Mon, 09/13/2010 - 17:09 | 579295 Clycntct
Clycntct's picture

I had to hunt this up from my saved files, then I had to find it in the series.

Good rundown on the simple math side. For more go to #6

http://www.youtube-nocookie.com/watch?v=qHuwgxrTKPo&p=6A1FD147A45EF50D&i...

I can't quite figure out who hates you for asking a question?(the neg vote)

Mon, 09/13/2010 - 18:14 | 579430 thesapein
thesapein's picture

Nice, thanks!

Mon, 09/13/2010 - 15:23 | 579027 Dirtt
Dirtt's picture

"Peak Oil" Myth = Peak Oil Production

The "peak" is being perpetrated.  Like EVERYTHING ELSE right now.

Look.  If you make all oil reserves off limits then can't you assume that the supply of oil will decline rapidly.  Even the smart ones are gullible on this one.

Mon, 09/13/2010 - 17:14 | 579310 Clycntct
Clycntct's picture

myth or fact  have 6 billion people hold their foot to the floor on the gas pedal.

Myth or fact It's only peak till they let off the gas pedal.

Myth of fact. 8 billion on the horizon.

 

Mon, 09/13/2010 - 15:26 | 579035 Dirtt
Dirtt's picture

doublepost

Mon, 09/13/2010 - 13:50 | 578781 frankTHE COIN
frankTHE COIN's picture

The principle said that the american consumer is not yet back from recess.

So now he can have all the shrimp to himself.

Mon, 09/13/2010 - 13:52 | 578787 Boilermaker
Boilermaker's picture

This officially means my October and January BP puts will be fucked.  It'll rally 20% off of this news to make sure that any negative momentum is halted.

Mon, 09/13/2010 - 13:55 | 578795 schoolsout
schoolsout's picture

Caught 48 quarts of good ole East Coast shrimp last night...going back again tonight!

Mon, 09/13/2010 - 13:56 | 578797 bada boom
bada boom's picture

BP's defense,

Can you prove that the oil was not there before the accident?

Mon, 09/13/2010 - 14:04 | 578818 RichardP
RichardP's picture

Yes - if it's oil print matches the oil print from the blown-out well.

Mon, 09/13/2010 - 18:26 | 579444 thesapein
thesapein's picture

or that it was leaking before they ever drilled there. It's clever. Next, they'll say that we should reimburse their efforts for saving us from even more people that would've died.

Mon, 09/13/2010 - 20:51 | 579669 RichardP
RichardP's picture

... the oil cannot be natural seepage into the gulf, because the cores they've tested are showing oil only at the top. With natural seepage, the oil would spread from the top to the bottom of the core, she said.

I assumed the question was asked within the context of the article.  My response took into account this statement from the article.  Your comment ignores this statement so far as I can tell.

Mon, 09/13/2010 - 13:56 | 578800 Hondo
Hondo's picture

Now we discover the great marketing gimmick of the dispersant.  It makes the oil heavier than water so it sinks to the bottom (not really dispersed at all) and when the idiots do see it they say "great…what a fantastic product (of course not asking where the oil went) I’ll take a tanker load.

 

 

Mon, 09/13/2010 - 13:56 | 578801 Nihilarian
Nihilarian's picture

"93 octane shrimp"

Goes down smooth with a shot of Ethanol. Cheers!

Mon, 09/13/2010 - 17:27 | 579338 RichardENixon
RichardENixon's picture

At least you can save on lighter fluid when you're throwing them on the barbecue.

Mon, 09/13/2010 - 13:59 | 578807 midtowng
midtowng's picture

I'm shocked! Oh, wait. No I'm not. Everyone and their monther knew that the oil hadn't gone anywhere. I'm still waiting for the first catagory 4 hurricane to stir it up.

OTOH, there isn't a whole lot of life a mile deep in the ocean. So its not like its killing things down there.

Mon, 09/13/2010 - 18:38 | 579457 thesapein
thesapein's picture

OTOH, there's not much on the surface either. Most of the life on this planet dwells in the inner atmosphere of the ocean. We're like astronauts on a mostly dead surface (or space vessels filled with a bunch of little creatures) who just totally screwed the inner colonies.

But... that's... from a perspective, that, uhm, might seem a bit alien to you. Sorry.

Mon, 09/13/2010 - 19:26 | 579539 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

liquid, fluid.

Mon, 09/13/2010 - 14:00 | 578808 Greater Fool
Greater Fool's picture

This is fantastic news. I was beginning to worry that BP and the Administration had found some way to circumvent the conservation of mass.

Mon, 09/13/2010 - 14:00 | 578809 HelluvaEngineer
HelluvaEngineer's picture

University of Georgia, who is conducting a study on a research vessel just two miles from the spill zone = party boat, provisioned with 3 kegs.

Out of sight, out of mind, right Barry?

Mon, 09/13/2010 - 14:01 | 578810 Vergeltung
Vergeltung's picture

this is awful news...

Mon, 09/13/2010 - 14:02 | 578813 The Rogue Trader
The Rogue Trader's picture

To researcher who published this: Stay away from hot tubs...heart attacks happen...

Mon, 09/13/2010 - 14:03 | 578815 NOTW777
NOTW777's picture

i think they should have erin burnett scuba down to do a report

Mon, 09/13/2010 - 14:05 | 578819 schoolsout
schoolsout's picture

Is Rush still telling his followers that he was right and the oil is gone?

Mon, 09/13/2010 - 14:05 | 578820 uno
uno's picture

The federal government hired a New Orleans man for $18,000 to appraise whether news stories about its actions in the Gulf oil spill were positive or negative for the Obama administration, which was keenly sensitive to comparisons between its response and former President George W. Bush's much-maligned reaction to Hurricane Katrina.

 

http://news.yahoo.com/s/ap/20100913/ap_on_bi_ge/us_gulf_oil_spill_contracts

Mon, 09/13/2010 - 22:27 | 579814 knukles
knukles's picture

Arrrrrrrrrrrrrrraaaaaaaaaaaagggggggggggggghhhhhhhhhhhhh

Mon, 09/13/2010 - 14:06 | 578824 MGA_1
MGA_1's picture

Wow... now if Matt Simmons was correct....

Mon, 09/13/2010 - 14:10 | 578835 merehuman
merehuman's picture

so, if nobody wants the BOTTOM oil, can i have it?

I can see it from here but my island is tipping over.

My money is not hyperinflating, its just hyper.

We are doomed, so i am trying to see the funny side. Cheer up folks, death is temporary, next thing you know here you are again crying about the milk.

Whats really important to me is the Loop current having stopped and what that implies for the near future.

Bullish on fireplaces and blankets.

Mon, 09/13/2010 - 14:11 | 578840 NOTW777
NOTW777's picture

"The government .... awarded a $216,625 no-bid contract for a survey of seabirds to an environmental group that has criticized what it calls the "extreme anti-conservation record" of Sarah Palin, a possible 2012 rival to President Barack Obama."

did the seabirds have an opinion?

Mon, 09/13/2010 - 14:12 | 578841 potatomafia
potatomafia's picture

They are lying..  I looked in the water with my own eyes, the oil is gone!

Mon, 09/13/2010 - 18:42 | 579466 thesapein
thesapein's picture

Where did it go? Did God eat it?

Mon, 09/13/2010 - 14:13 | 578842 TraderTimm
TraderTimm's picture

I guess the best case scenario is this stuff slowly slumps off the continental shelf into a deep ocean chasm. Not sure about the impact on the food chain in the meantime, though.

I really don't want Simmons to be right, because that would mean some rather nasty things for everyone in the immediate area, and the world itself.

 

Mon, 09/13/2010 - 18:46 | 579473 thesapein
thesapein's picture

Remember, according to BP, the oil seeps up, not down. By their reasoning, this problem will only get worse over time.  

Mon, 09/13/2010 - 14:13 | 578843 Segestan
Segestan's picture

It's just all part of the policy of ...'change'.

Mon, 09/13/2010 - 14:14 | 578846 I am a Man I am...
I am a Man I am Forty's picture

I don't think we want live worms and shrimp "living" in 2.5 inches of oil.  Hopefully they died or left the area, or better yet, not much life in the area because of the depth.  But this wasn't addressed.  I guess oil can't seep up from one location and spread to another.  This lady creates more questions than answers.

Mon, 09/13/2010 - 18:48 | 579476 thesapein
thesapein's picture

That is what scientists are supposed to do. Answers always lead to more questions.

Mon, 09/13/2010 - 14:18 | 578856 Sudden Debt
Sudden Debt's picture

99 INCHES OF OIL ON THE SURFACE,

YOU SEND 1 DOWN AND PASS IT ARROUND 98 INCHES OF OIL ON THE SURFACE

98 INCHES OF OIL ON THE SURFACE,

YOU SEND 1 DOWN AND PASS IT ARROUND 97 INCHES OF OIL ON THE SURFACE

97 INCHES OF OIL ON THE SURFACE,

YOU SEND 1 DOWN AND PASS IT ARROUND 96 INCHES OF OIL ON THE SURFACE

96 INCHES OF OIL ON THE SURFACE,

YOU SEND 1 DOWN AND PASS IT ARROUND 95 INCHES OF OIL ON THE SURFACE

95 INCHES OF OIL ON THE SURFACE,

YOU SEND 1 DOWN AND PASS IT ARROUND 94 INCHES OF OIL ON THE SURFACE

...

Mon, 09/13/2010 - 14:54 | 578957 Arthor Bearing
Arthor Bearing's picture

Yes!

Mon, 09/13/2010 - 14:19 | 578859 bigdumbnugly
bigdumbnugly's picture

there's probably no one in this administration that's thought of looking under the cushions for their lost change either.

Mon, 09/13/2010 - 22:30 | 579818 knukles
knukles's picture

+++++++++++++++++

And therein is why the Fed/Treasury Must Coin more Money.  Buncha Fucktards.

Mon, 09/13/2010 - 14:21 | 578864 raygun
raygun's picture

The oil is still coming ashore. See the following from the Times Picayune. Of course, it was hidden in the Sports section.

 

http://www.nola.com/outdoors/index.ssf/2010/09/new_wave_of_oil_comes_ashore_w.html

Mon, 09/13/2010 - 14:31 | 578898 Cognitive Dissonance
Cognitive Dissonance's picture

That's because fisherman are the only ones reporting the oil. Everyone else has been told the black/red stuff is officially gone.

Ryan Lambert, owner of Buras-based Cajun Fishing Adventures, said about 16 miles of coastal beaches in Plaquemines Parish from Sandy Point to Chalon Pass were lined with black oil and tar balls. Meanwhile anglers returning to Lafitte told Sidney Bourgeois, of Joe's Landing, that new oil was surfacing on the eastern side of Barataria Bay in the Bay Jimmie, Bay Wilkerson and in Bay Baptiste areas.

Mon, 09/13/2010 - 17:57 | 579392 Ned Zeppelin
Ned Zeppelin's picture

Nothing worse than having black tar balls.

Mon, 09/13/2010 - 14:21 | 578866 Shameful
Shameful's picture

Wow just covering up the problem and pretending it doesn't exist.  Sounds like the govs solution for our economic problems.  See no evil, hear no evil.

Mon, 09/13/2010 - 17:21 | 579329 Clycntct
Clycntct's picture

You forgot to add give away 700B$ to your friends.

All better now.

Mon, 09/13/2010 - 14:22 | 578867 TraderMark
TraderMark's picture

I was told the oil was under the pickle.

Source: the burger.

Mon, 09/13/2010 - 15:06 | 578990 Village Idiot
Village Idiot's picture

I was told the oil was on the sausage.

 

Source: the buns.  someone else's buns, not mine...never mind.

Mon, 09/13/2010 - 15:54 | 579113 Problem Is
Problem Is's picture

I was told the oil was on the back of the sun tanning blonde...

 

Source: Perv (DHS agent) on the beach with the Raybans and the metal detector...

FYI: The Perv swears his metal detector can pick up the copper in an IUD through most swim wear...

Mon, 09/13/2010 - 17:12 | 579306 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

i said,  N O  p i c k l e s

source: my mouth.

Mon, 09/13/2010 - 14:24 | 578871 Comrade de Chaos
Comrade de Chaos's picture

speaking of magical reapperances:

 

"(Reuters) - The pace at which teenagers, men in their prime and older workers re-enter the U.S. work force as the economy recovers will shape how quickly the unemployment rate falls, researchers at the San Francisco Federal Reserve said on Monday."

 

Reminds me of this book by a lesser known Russican classic writer: "Dead souls."

Mon, 09/13/2010 - 14:45 | 578937 BorisTheBlade
BorisTheBlade's picture

That'd be Nikolai Gogol and yes, seems fitting

Mon, 09/13/2010 - 22:33 | 579823 knukles
knukles's picture

'Bout as useful as the 9th Circuit Court of Appeals.  A geographical anomaly, mayhaps?

Mon, 09/13/2010 - 14:29 | 578890 watmann
watmann's picture

Best route to follow here is to assume the market will reject everything Zero Hedge says and go long BP. While ZH may be correct their general track record has been so bad that you have to do the opposite.

 

Ofcourse one day this will change and the market will collapse, but in the mean time the sky is the limit

Mon, 09/13/2010 - 14:33 | 578903 Bankster T Cubed
Bankster T Cubed's picture

the jedi mind trick is wearing off

Mon, 09/13/2010 - 14:34 | 578909 Fish Gone Bad
Fish Gone Bad's picture

Anything that lives down in the banthos, that far down in the ocean, wasn't fun to play with anyway. 

Mon, 09/13/2010 - 14:35 | 578915 ReallySparky
ReallySparky's picture

Okay, can someone do the math and factor out how much oil is down there at a 70 mile circumference at 2.5 inches thick?  Guesstimate on the number of gallons or barrels.  Us simple folks need some help on this.

Mon, 09/13/2010 - 14:50 | 578948 Matt SF
Matt SF's picture

pi * r^2 * h

Mon, 09/13/2010 - 14:58 | 578973 Arthor Bearing
Arthor Bearing's picture

Probably need to adjust height because it will presumably be a thicker oil pie in the center than around the perimeter. And it could be wider than 70 miles as well. And it probably didn't spread in a circle. Formulas aren't any more reliable here than in market forecasting 

Mon, 09/13/2010 - 17:24 | 579334 Clycntct
Clycntct's picture

The numbers never lie.

Mon, 09/13/2010 - 14:57 | 578971 firstdivision
firstdivision's picture

A lot.

Mon, 09/13/2010 - 14:59 | 578975 TraderTimm
TraderTimm's picture

70 miles = 4,435,200 inches

Diameter = Circumference / pi

1411768.007202 / 2 = 705884.003601 radius

Volume = pi * radius^2 * height

Volume = 3.141 * 498272226540.022501 * 2.5

Which comes to:

3,913,420,915,964.909727 cubic inches, which according to google - converts to:

403,362,288 barrels of oil

Dang.

 

Mon, 09/13/2010 - 16:48 | 579236 Max Hunter
Max Hunter's picture

Yup.. I didn't round pi.. I got.  3.994 X 10^8

That can't be right.. or can it?? wow..   That would drive a hummer all the way across town.. ;)

I don't think this is right.. if it were in a lake and all together like that at the bottom... It would be worth it to find a solution to bring it up, separate it, and sell it..  At 75 bones/barrel, we're talking about 40 billion...

Put me in charge, i'd make it happen and only charge 1% off the top... :)

Mon, 09/13/2010 - 17:51 | 579384 TraderTimm
TraderTimm's picture

If it is finders-keepers, why not just get a boat out there and start collecting :) Don't know how much energy you'd expend getting it though.

Oh, and as an aside - I didn't round pi, just put a few digits after the decimal for brevity. I was using this form of it in my calculations:

3.1415926535897932384626433832795

I thought that was enough precision :)

Mon, 09/13/2010 - 17:36 | 579357 Panafrican Funk...
Panafrican Funktron Robot's picture

That's probably not only accurate, but possibly even a conservative estimate, operating under the assumption that the spill never actually stopped.

Mon, 09/13/2010 - 22:34 | 579827 knukles
knukles's picture

But what with the Administration saying there's no oil now, the spill never happened.

Mon, 09/13/2010 - 14:42 | 578930 AnAnonymous
AnAnonymous's picture

Some have a nice job. I can understand the added value of scientists who have to put out work on how the oil has disappeared. That is real work, denying the obvious fact. In doing so, they also force to give work to people who are paid to support the obvious fact: the oil did not disappear. The latters have a nice job.

Mon, 09/13/2010 - 14:48 | 578944 Matt SF
Matt SF's picture

Any chemist not on the payroll knew this would happen.

Downside: GOM sealife dies for a few years (decades).

Upside: East Coast US sea life lives.

Bad time to have made heavy bets on GOM real estate, b/c a hydrophobic film this big isn't going anywhere fast.

Mon, 09/13/2010 - 15:46 | 579100 Problem Is
Problem Is's picture

Matt Simmons knew it until he gulped too much hot tub water... or was it a heart attack like oligarchy critics Zinn and Carlin.

RIP Matt...

Mon, 09/13/2010 - 21:04 | 579695 Cistercian
Cistercian's picture

Matt's infamous lake of oil. He was right, and they killed him for telling the truth.

 

 Telling the truth today is indeed revolutionary.

 Like ZH on HFT.

Mon, 09/13/2010 - 14:48 | 578945 clagr
clagr's picture

Do we need a permit to slurp it up off the bottom? Seems like a better chance of 'hitting' oil with a big straw and suction pump than all that expensive drilling equipment. Of course you have to figure out how to separate the oil from the water and sand, but what the heck. I bet it is still cheaper than buying permits and drilling.

Mon, 09/13/2010 - 17:31 | 579347 RichardENixon
RichardENixon's picture

I thought Obama said it couldn't be sucked up with a straw?

Mon, 09/13/2010 - 14:59 | 578968 collegepunk
collegepunk's picture

Well the issue isn't really that there is oil on the bottom of the GoF.  The sheer fact that there is oil down there doesn't mean anything.  What's the environmental impact?  The article doesn't mention it.

 

edit: sorry for the double post

Mon, 09/13/2010 - 14:57 | 578969 collegepunk
collegepunk's picture

Well the issue isn't really that there is oil on the bottom of the GoF.  The sheer fact that there is oil down there doesn't mean anything.  What's the environmental impact?  The article doesn't mention it.

Mon, 09/13/2010 - 15:05 | 578986 ThreeTrees
ThreeTrees's picture

93 Octane shrimp.  Hahahaha

Mon, 09/13/2010 - 15:22 | 579024 Heroic Couplet
Heroic Couplet's picture

BP to the Rothschild family is the proper chain of command, not to "Obama" or "this administration."

Mon, 09/13/2010 - 15:41 | 579071 Problem Is
Problem Is's picture

Obummer the BP 'Ho Has Got to Go...
Obummer the Wall Street puppet, Pentagon bitch, war monger, duplicitous no reform "reformer," corporate health insurance lackey, corporate yes man, useful idiot, huckster and BP 'ho has got to go...

Lacing Up the Voting Boot for 2012
I am ready to put my voting foot in Obummer's election ass come November 2012...

Mon, 09/13/2010 - 15:40 | 579079 Jim in MN
Jim in MN's picture

A layer of scum on the bottom of the ocean!?!  My GOD...and look...right next to it...67% of the houses in Phoenix...and next to that...all the elite rich and their supplicant lawyers, politicians and mind control technicians, er, media...but that kind of blends back in with the scum....

Ah, poor us.  Keep up the finance strike, folks.  It's hittin' 'em where it hurts.

Remember: Get or keep anything of value away from the DC/NY nexus.

Mon, 09/13/2010 - 15:47 | 579104 proLiberty
proLiberty's picture

Having lurked at lot at The Oil Drum, I now know that when someone says they found "oil" almost all  of the time what they really found was some parts per million of oil in various states like droplets or disolved.  As far as I am concerned I will have to hold Prof. Joye to this same standard.  When "oil" is "found", just what exactly was "found", in what form, and in what concentration?

Mon, 09/13/2010 - 16:00 | 579132 TraderTimm
TraderTimm's picture

Yeah, some reports have later been clarified to reference suspended droplet concentrations, not some molasses-like blob. However, just taking the quote in context here:

the cores they've tested are showing oil only at the top

I take that to mean a concentrated layer. I guess we'll just run with that until further clarification comes along.

 

Mon, 09/13/2010 - 19:05 | 579495 thesapein
thesapein's picture

So to find oil means to find oil? What else would it mean?

Mon, 09/13/2010 - 21:27 | 579687 RichardP
RichardP's picture

.

Mon, 09/13/2010 - 21:24 | 579691 RichardP
RichardP's picture

Since the crude coming out of the ruptured well floats to the surface, we can assume anything found on the bottom is a subset of crude - with other parts already separated out / corexited out.  Maybe nothing more than a road-tar-like substance.  If it is sludge, then it is not useful oil that could be refined.

Mon, 09/13/2010 - 21:48 | 579759 thesapein
thesapein's picture

Yeah, it's not like anyone is saying we're going to find a perfectly homogeneous pool of refined oil. 

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