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Trans-Alaska Pipeline, Owned By BP, Shut Down After Oil Spill

Tyler Durden's picture




 

If BP was a comatose patient on a ventilator, this is where the doctor would say, "enough, better luck next time" and pull the plug. With the firm about to see a lynch mob on its corporate HQ grounds any day now, the last thing the company can afford is news of another oil spill. Enter Murphy's law. Reuters reports: "The Trans-Alaska Pipeline, partly owned by BP, shut down on Tuesday after a crude oil spill, drastically cutting supply out of Alaska's oilfields." The only good news out of this: it is now abundantly clear that actual oil supply and demand are the last things on anyone's mind when determining what the price of crude should be. Kinda like pretty much every other asset in America these days.

More from Reuters:

 The accident comes at a difficult time for BP -- the largest single owner of the pipeline, holding 47 percent of Alyeska -- as it struggles to plug a gushing Gulf of Mexico oil well.

The shutdown followed a series of mishaps that resulted from a scheduled fire-command system test at Pump Station 9, about 100 miles south of Fairbanks, said Alyeska Pipeline Service Co, the operator of the 800-mile (1,287 km) oil line said.

The power outage triggered opening of relief valves, causing an unspecified volume of crude oil to overflow a storage tank into a secondary containment. There were no injuries, but the work site was evacuated, Alyeska said.

North Slope oil producers have been instructed to cut their flow to 16 percent of their normal rates, Alyeska said.

Alyeska is a consortium owned by five oil companies. Major owners are BP, ConocoPhillips (COP.N: Quote, Profile, Research) and Exxon Mobil (XOM.N: Quote, Profile, Research). Unocal and Koch hold minor shares.

The Trans-Alaska Pipeline, which runs from Prudhoe Bay to the tanker port of Valdez, normally ships about 667,000 barrels of oil daily.

 

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Tue, 05/25/2010 - 21:19 | 373359 tony bonn
tony bonn's picture

bp needs to be shut down and its irresponsible little boy exectives locked up in jail....

Tue, 05/25/2010 - 22:04 | 373421 Howard_Beale
Howard_Beale's picture

Along with the MMS gang that let the oil companies do their own inspections in pencil and then let the MMS personnel write over it in pen.

http://www.cnn.com/2010/US/05/25/oil.spill.interior/index.html

 

Tue, 05/25/2010 - 23:21 | 373535 The Rock
The Rock's picture

holy shit!!

Wed, 05/26/2010 - 00:06 | 373619 Alienated Serf
Alienated Serf's picture

may the executives of BP, the minerals inspectors and fed.gov burn in an oily hell for eternity. 

instead of middle eastern wars, bank bailouts, fed FX swaps, pork barrel projects, and all other manner of waste; how about a public/private energy manhattan project.  nothing could be more beneficial to national security, human progress and a sustainable economy.  we need to move on from the oil age.

the oil cartel, right up there with the MIC and the financial oligarchy.  the three legs of serfdom and endless war.

as for barry, what a phony piece of garbage; has he flown over the spill in air force one yet? barry w. clinton. 

 

 

Wed, 05/26/2010 - 00:43 | 373675 Apostate
Apostate's picture

Some enterprising photoshopper needs to do a portrait of this Barack W. Clinton - the finest president to ever occupy the office. 

Wed, 05/26/2010 - 05:57 | 373853 Dr. Hannibal Lecter
Dr. Hannibal Lecter's picture

My Dear Friend,

You are willing to put an industrial reactor in your back yard?

Regards,

H.

 

Wed, 05/26/2010 - 13:47 | 374637 Alienated Serf
Alienated Serf's picture

I am more then happy to.  I live 20 miles down the river from one as is.  Modular nuclear, wind, solar would be a good start to get off oil.  

Thu, 05/27/2010 - 23:47 | 378400 FreeStateYank
FreeStateYank's picture

We've had the answer and the ecomentalists shut it down. Nuclear power. We've also contributed yearly to the Yucca Mountain disposal area via our utility bills. Where's the refund, Feds?

There are small, closed system nukes in development that could power remote development. Wind blows- but not consistently and where it is relatively strong, there is no grid to transmit the energy generation. In the Netherlands, they have to shut down the wind turbines at night as there is insufficient demand for the energy usage, no storage and when it does not blow sufficiently, they must rely on alternative generation. Big boondoggle.

If you don't like nukes for one reason or the other, go with gas turbines.

 

Tue, 05/25/2010 - 22:40 | 373481 DoChenRollingBearing
DoChenRollingBearing's picture

BP is an extraordinarily bad oil company.  Let's review:

-- oil spill from their Alaska pipeline, +/- 3 yrs ago

-- refinery explosion in Houston +/- 2 yrs ago

-- horrific GulfoMex oil spill

-- new oil spill from their Alaska pipeline

Verdict: Guilty of criminal negligence for years.  Punishment: Break it up uk.gov.

Wed, 05/26/2010 - 00:16 | 373634 Cursive
Cursive's picture

And this is from the "green" oil company.  Thank you, Lord John Browne.  What a complete waste of human DNA.

Wed, 05/26/2010 - 02:29 | 373771 Wilderman
Wilderman's picture

BP has some issues, namely the current disaster in the GOM, particularly wrt well design issues (seens every oil well in a new formation can be a bitch) or possibly poor construction practices.  And certainly, this is the spill is the worst the world has publicly seen, probably the worst ever.

 

I'm no expert, but I'd like to know if BP has a significantly worse batting average than the rest of the field wrt 'violations' as they may be reported or enforced 

 

Shirley, there's a large difference between the two. 

 

Haven't seen any discussion of this elsewhere on the web, but always find references to ZH where the conversation seems relevant. 

 

Wed, 05/26/2010 - 02:48 | 373782 Howard_Beale
Howard_Beale's picture

Don't call me Shirley!

Wed, 05/26/2010 - 03:41 | 373819 Wilderman
Wilderman's picture

Sorry Howard, must be an old verbal habit translated to the web. If I can't laugh about this mess, I cry, so I throw a cheezy pun in now and again, just to pimp the readers to the last line, which is usually the drunkest. 

Wed, 05/26/2010 - 06:54 | 373868 plongka10
plongka10's picture

I believe Royal Dutch Shell have a particularly poor record in the Nigerian Delta FWIW.

Fri, 05/28/2010 - 01:17 | 378409 FreeStateYank
FreeStateYank's picture

Think BP was poorly managed for years- reminds me a bit of Anglo mining. Top heavy with underperformers. Weed out has commenced over the past year. Hayward is a good guy IMO and actually has the technical background needed for the job, rather than just a corporate figurehead.

RE the AK spill, the overflow went exactly where it was supposed to go- into containment beds.

IIRC, BP has better success than most in targeting DW locations. Less dry wells and bigger finds than most. Tiber is HUGE!!! RE the GOM leak, it's bad and ugly, but it is NOT heavy crude, nor was the spill located in the mouth of a bay with no place to go, other than the shore. Furthermore, the disperant used does not fiddle with the hormonal aspects of wildlife, unlike some of the others on the market- according to one report, but I cannot recall the source- too much reading!

Additionally, some of the troubles in Gulf Coast oysterbeds long pre-date the Macando issue- Cholera [poop  caused] has had many beds off limits, although fly by night oystermen have continued to harvest and sell illegally.

Last of all, as much as I like Jindal, I can't help but wonder if his push for barrier islands is for a hurricane  buffer paid for by other than the LA ratepayers. 'Never let a crisis go to waste'.

Wed, 05/26/2010 - 06:59 | 373870 ColonelCooper
ColonelCooper's picture

I am no fan of BP by any means.  But did any of you read the story?  It overflowed into SECONDARY CONTAINMENT which is what it is supposed to do in the event of failure.  This would literally be a non story if the Gulf abortion weren't going on.  If BP would have had redundant saftety systems on Deep Horizon, perhaps we wouldn't be having this discussions either.

Oil leaks happen in pipeline systems ALL THE TIME.  They just aren't normally considered hot topics unless they're large scale.  Running over into a containment???  Not really a leak.  If they would have overran the containment?  NOw that's a story.

Tue, 05/25/2010 - 21:24 | 373367 velobabe
velobabe's picture

incomprehensible.

the taking over of the world by a god damn irresponsible corporation.

i only turn on CNBC periodically, but they honestly think BP is a buy. SICK†

Tue, 05/25/2010 - 22:14 | 373438 Howard_Beale
Howard_Beale's picture

Velo, it is a tragedy beyond belief.

Let's hope Beeker loads up on BP in his IRA since working for CNBS he can't legally trade anything except his retirement account. I'm so glad that little fucker is a permabull. 

Dennis Kneale, if you are reading this, and you know you are you little pussy, STFU.

Wed, 05/26/2010 - 00:08 | 373621 Alienated Serf
Alienated Serf's picture

wow.  and that is why i turn on cnbs NEVER

Wed, 05/26/2010 - 02:08 | 373758 dogbreath
dogbreath's picture

I don't own a TV.  I cannot discuss TV.  Thank god for ZH for if it didn't exist I would be an antisocial basket case. 

Wed, 05/26/2010 - 05:12 | 373848 Sudden Debt
Sudden Debt's picture

no tv?... what do you do when it's Porn week?!?

Wed, 05/26/2010 - 13:48 | 374645 Alienated Serf
Alienated Serf's picture

plenty of porn on the web my friend.

Wed, 05/26/2010 - 00:31 | 373656 Papasmurf
Papasmurf's picture

That means it is not to late to go short.

Tue, 05/25/2010 - 21:30 | 373373 QuantTrader
QuantTrader's picture

epic fail

Tue, 05/25/2010 - 22:27 | 373457 hedgeless_horseman
hedgeless_horseman's picture

Bad luck?  Or something else?

 

 

Tue, 05/25/2010 - 22:30 | 373468 velobabe
velobabe's picture

hedgeless is that a penis phallic symbol, your wearing now a days†

Wed, 05/26/2010 - 00:01 | 373613 A Nanny Moose
A Nanny Moose's picture

is it just me, or is it a bit nipply....**cough** nippy **cough** in here?

Wed, 05/26/2010 - 00:31 | 373657 A Nanny Moose
A Nanny Moose's picture

is it just me, or is it a bit nipply....**cough** nippy **cough** in here?

Tue, 05/25/2010 - 23:01 | 373506 Mr. Denny Kneel
Mr. Denny Kneel's picture

Well, it should provide some cover for the failed top kill attempt.

Hopefully, the pundits can go crazy about this and forget to mention when the top kill creates an even worse problem than we currently have.

 

My question for the zh community - with the resurgence of the "tea party" does this mean that we shall have a resurgence of "tar and feather" practices?  Seems like a good activity for a BP board meeting...

 

Tue, 05/25/2010 - 23:45 | 373579 The Rock
The Rock's picture

that's a great idea! let's tar and feather the british (petroleum)!

http://www.1776mag.com/tar-and-feather-the-british-6-illustrations/

 

Tue, 05/25/2010 - 21:32 | 373376 silvertrain
silvertrain's picture

 Did any more news come out about the oil tanker crash last night near Singapore? Last night around 10 pm Cashflow on cnbc broke in and said an oil tanker had crashed with another boat near singapore and had spilled alot of oil out there..Havent seen anything else about it..

Tue, 05/25/2010 - 21:36 | 373382 MsCreant
MsCreant's picture

Oily seabed

Oily sunrise

Folks are dependant

unhealthy, unwise.

Tue, 05/25/2010 - 22:23 | 373454 Yeahsure
Yeahsure's picture

Very good.

Wed, 05/26/2010 - 02:35 | 373770 Miles Kendig
Miles Kendig's picture

That's how the cookie crumbles, at least that's what they say when we play the game. How tragic. Folks forget that BP had to shut down the pipeline a year or two ago to make essential repairs. Looks like the essential repairs got the pencil over... just like every other profession, the crap just keeps on repeating.

I wouldn't go back now for any amount of money (or anything else) - Miles Kendig

Wed, 05/26/2010 - 07:03 | 373872 ColonelCooper
ColonelCooper's picture

Again, I'm no fan of BP, but it is not unusual IN THE LEAST to have to shut a line down for repairs due to a leak, or anomaly found by inspection. 

Tue, 05/25/2010 - 21:40 | 373387 M.B. Drapier
M.B. Drapier's picture

Hey, what if one could connect BP's recent safety record directly to Goldman Sachs' boardroom? Wouldn't that be something almost too crowd-pleasing to be true?

Note that the article actually underplays the drama of Sutherland's first gig at Allied (note: not Anglo) Irish Bank[s]. At this time AIB was running a tax-evasion scam for a good proportion of its retail customers, and Sutherland was involved with the departure of the bank's internal whistleblower. In addition, FitzGerald was the man who, just a few years earlier, had as Taoiseach (ie. prime minister) authorised the then-most-recent panic bailout of AIB. (Again, Ross has the story if you're curious; see the linkdump.)

Tue, 05/25/2010 - 22:01 | 373423 velobabe
velobabe's picture

everybody is in bed with everybody, here†

Tue, 05/25/2010 - 21:53 | 373390 wang
wang's picture

at which point everyone's favorite former EPA director  (William K Reilly) and now Chair of the Presidential Oil Spill commission (in addition to membership on Conoco's board, senior advisory position with TPG and anyplace else where an environmentalist pedigree can be leveraged) weighed in, oh so many years ago in the Exxon Valdez era:

 

 

William K. Reilly has said, if we do not move oil from Valdez, we will have to bring it in from foreign sources. That means more foreign tankers hauling oil into San Francisco Bay, Cape Cod Bay, Chesapeake Bay and other U.S. ports. But this scenario could also become a reality if we do not explore for oil in the Arctic National Wildlife Refuge. Production from Prudhoe Bay is beginning to decline. By the year 2000, as little as 800,000 barrels a day could be moving through the pipeline. We won't know if there is oil in the wildlife refuge unless it is opened for exploration. And we won't have the option to find oil in the wildlife refuge unless we go ahead with authorizing legislation.

 

http://bit.ly/9AwYyW

Tue, 05/25/2010 - 21:43 | 373394 Rebel
Rebel's picture

I worked as a roughneck in the summers while going through college on a wildcat rig. It was like being in the wild west. No concern for anything except "Making Hole". I ran the compressors, working 7 12 hours shifts a week. It was so dangerous when you had to clear the hole, that my boss would park his pickup a quarter mile away, watch me give him hand signals on what the hole pressure was through his binoculars, and then he would flash his headlights to signal me what to do. I understood the danger, but the pay was good. There is nothing about the oil industry that could surprise me.

Tue, 05/25/2010 - 21:55 | 373408 Cognitive Dissonance
Cognitive Dissonance's picture

Now there's a boss who understood who was expendable and it wasn't him.

Poor Bo Peep....ummm....I mean Bee Pee. When it shits it's diarrhea all day and all night. It's clear their corporate strategy will once again revolve around changing their logo and tag line.

Let's see. Let's try this.

BP.....moving Beyond Petrolum because we lost all ours in that little lake in the states. Next stop? Nuclear, because we've fucked up drilling as much as we can. 

Tue, 05/25/2010 - 21:57 | 373415 Rebel
Rebel's picture

It will be interesting to see the story more fully unfold. Many reports of employees and contractors warning BP that rig was in imminent danger. They live by a different set of rules.

Tue, 05/25/2010 - 22:18 | 373447 Howard_Beale
Howard_Beale's picture

They didn't just warn BP, they warned Senators--during the Healthcare debate. The whistleblower was dismissed since big oil owns congress and big pharma was in danger of losing their ability continue to pile drive the public. Just too much Corporate Fascism for one week, I guess.

Wed, 05/26/2010 - 00:23 | 373647 Cursive
Cursive's picture

Corporate Fascism and silencing whistleblowers - we live in a psycho bizarro world where where no good deed goes unpunished.

Wed, 05/26/2010 - 00:30 | 373655 JohnKing
JohnKing's picture

Blow up your balance sheet, get the keys to the US Treasury, blow out your oil well, you get ownership of the Gulf of Mexico. Nothing succeeds like failure.

Wed, 05/26/2010 - 02:53 | 373775 Miles Kendig
Miles Kendig's picture

Right is wrong now
Ha, shut up you big lie

Oh and the "black is white" lie
You comb your hair to
Hide your lying eyes

- Dave Matthews

Wed, 05/26/2010 - 03:58 | 373826 kimyo
kimyo's picture

a few more details confirming that schlumberger rumor emerged tonight. 

ps: if the cement job is bad, top kill won't work, kill wells have reduced chance of success.  (adding the obligatory: ham radio, bitches)

 

"The crew of the Deepwater Horizon had a number of warning signs extending over five hours that conditions were worsening deep underwater before the oilrig exploded in the Gulf on April 20, BP's own investigators told a House inquiry into the cause of the deadly accident.

The first warning came five hours before the explosion, congressional investigators with the oversight subcommittee of the House Energy and Commerce Committee said in a memo released Tuesday evening.

There was evidence that throughout the day crews failed to follow proper procedures for critical activities, and had readings 51 minutes before the explosion that showed more fluid was being pumped out of the well than was being pumped in. Even though pressure readings indicated "a very large abnormality," BP continued to replace drilling mud with seawater. That move, BP's team told the subcommittee's investigators, may have been a "fundamental mistake."

The memo also suggests that some cement work failed, including crucial components designed to hold back oil and gas and prevent an explosion."

http://www.mcclatchydc.com/2010/05/25/94818/crews-had-warning-for-hours-before.html#ixzz0p1AoWlVZ

Tue, 05/25/2010 - 21:52 | 373405 Howard_Beale
Howard_Beale's picture

Time for the Kevorkian treatment on BP. Nationalization is right around the corner. They don't know jack shit about containing oil spills. Do you?

http://jack.zunino.net/knowjack.htm

Tue, 05/25/2010 - 22:05 | 373419 wang
wang's picture

Howie, don't disagree but when you think about it the administration is quite astute, such that they fully understand that they know less (as in sweet fk all) than BP - go back in history to the Exxon Valdez; Bush 44 was right on it (oil man that he was) and gave Exxon the boot within two weeks.  Of course everything was made right 4 years later when Exxon settled the various lawsuits from government agencies for less than __________ you guessed it, less than $10m as in less than ten million dollars.

Tue, 05/25/2010 - 22:11 | 373436 Crab Cake
Crab Cake's picture

Let's be real, the administration isn't being astute, they are trying to use BP as a body shield.  Barack Obama is astutely trying to cover his ass.  Covering their asses is the only thing that politicians do astutely; it seems.

Tue, 05/25/2010 - 23:18 | 373526 Howard_Beale
Howard_Beale's picture

CC, it just isn't that simple. Apparently Obama wanted to plug the fucking hole 4 days after it happened and his cabinet said it wasn't that easy...perhaps we should point the blame at the whole system and the last president as well with an assinine belief that when these rigs were built, the corporations were taken at their word that they had a plan for this type of disaster. The MMS let the oil companies do their own inspections in pencil so they could put ink over them. BP (as seen on 60 Minutes) did not want to hear about the rubber coming through the pipe making it impossible to close down the well. They didn't see things the way the captain of the rig saw it. They didn't give a shit.

This government, in collusion with every corporate interest whether it be banking, pharma, oil, and everything else, is an abomination on everything this country was founded on.

I won't defend Obama since I have called for a military solution for 3 weeks--you should see the emails to my friends and family. I am so damn pissed off about this words cannot describe. But I think it is just one big clusterfuck with plenty of blame to go everywhere in every direction.

Tue, 05/25/2010 - 23:25 | 373544 velobabe
velobabe's picture

beale, it is just plain sad.

i think CB just said,,,,,,,, escape. what else is there?

just go underground in your brain.

i don't think too much, unlike most of the poster's on ZH, so it doesn't hurt so much.

cheeky, cares about people, that is when it starts to hurts.

can't burden yourself with others.

 

Wed, 05/26/2010 - 00:27 | 373653 Howard_Beale
Howard_Beale's picture

Well I am too empathetic not to burden myself with others. For the fishermen, for the residents that have to smell it, for the children that used to be able to swim in it, for the mammals and fish in the ocean that will die on toxic waste.  I fucking care. Period. And I will not ever act like I don't or stop thinking. That's too easy and I am not an ostrich. I have a brain and a heart.

Wed, 05/26/2010 - 02:47 | 373780 Miles Kendig
Miles Kendig's picture

And so you see the shit soup sandwich for what it is...

Wed, 05/26/2010 - 02:54 | 373785 Howard_Beale
Howard_Beale's picture

Yes, but it doesn't lessen the pain.

Wed, 05/26/2010 - 02:58 | 373790 Wilderman
Wilderman's picture

Seemed like a s***load, back then, but now we're spending mbillions, or is that bmillions (sorrry, hereditary fat finger) on a daily basis? 

 

Hyperinflation is upon us when our financial discussions go from millions to billions to trillions to quadrillions (a few rumours) in  less than a decade. 

 

Tipping point  ----------------------------------^

 

 

Tue, 05/25/2010 - 21:54 | 373407 economicmorphine
economicmorphine's picture

Be very careful what you wish for.  President Chavez, oops, Obama, intends to do just that.  You'll have plenty of time to contemplate it when you're waiting in line for a $200 tank of gas.

Tue, 05/25/2010 - 21:56 | 373412 economicmorphine
economicmorphine's picture

Be very careful what you wish for.  President Chavez, oops, Obama, intends to do just that.  You'll have plenty of time to contemplate it when you're waiting in line for a $200 tank of gas.

Tue, 05/25/2010 - 21:56 | 373413 economicmorphine
economicmorphine's picture

Be very careful what you wish for.  President Chavez, oops, Obama, intends to do just that.  You'll have plenty of time to contemplate it when you're waiting in line for a $200 tank of gas.

Tue, 05/25/2010 - 21:56 | 373414 economicmorphine
economicmorphine's picture

Be very careful what you wish for.  President Chavez, oops, Obama, intends to do just that.  You'll have plenty of time to contemplate it when you're waiting in line for a $200 tank of gas.

Tue, 05/25/2010 - 22:05 | 373429 velobabe
velobabe's picture

your syringe thing is very tempting.

plus, when i see it in triplet†

Wed, 05/26/2010 - 07:20 | 373882 Oh regional Indian
Oh regional Indian's picture

Velo, I'd love to see the headspace you reside in. Have done any art on it?

Very floaty, cool, fecund, easy.... and always a little horny? Or is that part of the Veloact?

Very nice.

Wed, 05/26/2010 - 07:28 | 373885 Oh regional Indian
Oh regional Indian's picture

I'm reminded of a song:
Where do you go to my lovely,
When you're alone in your bed,
Tell em the thoughts that surround you,
I'd like to look inside your head,
Yes I would.

Do you know the Aga Khan?

Did you know that Wavy Gravy was a CIA Drug Pusher?

Sad! I met him and he freaked me out!

Also, this BP thing is Beyond Phunny.

Wed, 05/26/2010 - 09:17 | 373952 velobabe
velobabe's picture

http://www.youtube.com/watch?v=6FGk63Fv7t4

this just about sums up my being†

Wed, 05/26/2010 - 13:09 | 374504 Oh regional Indian
Oh regional Indian's picture

Hmmmmmm....

And you're going near naked on ZH.

Interesting times!!!

Tue, 05/25/2010 - 21:57 | 373416 sneering nihilist
sneering nihilist's picture

unless "secondary containment" means something other than a container of some sort i'm not sure this qualifies as a spill.

Tue, 05/25/2010 - 22:01 | 373420 sneering nihilist
sneering nihilist's picture

they spilled oil into a steel container! damn them!

http://www.steffes.com/oil-field-products/steel-secondary-containment-sy...

Wed, 05/26/2010 - 07:14 | 373879 ColonelCooper
ColonelCooper's picture

Since it was a storage tank, the containment was mare than likely a clay lined "catch-pond" with raised berms that the tank sits inside.  Non-story.   

Tue, 05/25/2010 - 22:05 | 373425 RobotTrader
RobotTrader's picture

Crude oil futures seem to be selling off on that news.

Back under $70 again...

Tue, 05/25/2010 - 22:05 | 373428 Cognitive Dissonance
Cognitive Dissonance's picture

First time I've seen a quadruple post followed by a double. I give it a 7 out of 10. :>)

Tue, 05/25/2010 - 22:08 | 373431 velobabe
velobabe's picture

the double through you, me too.

oh dear, i didn't mean to post under you dear.

just can't take my eyes off of your D's.

Tue, 05/25/2010 - 22:23 | 373455 Howard_Beale
Howard_Beale's picture

From the Olympic Figure Skating on Oil Committee:

6.7   6.8   6.7   7.1   7.2

Tue, 05/25/2010 - 22:14 | 373435 sneering nihilist
sneering nihilist's picture

this is a spill like filling up your bently or benz is a spill. from one tank into another. panic over.

Tue, 05/25/2010 - 22:17 | 373444 QuantTrader
QuantTrader's picture

If it were George Bush, left wing media would be flipping out.  

Meanwhile, Obama - ever the politician - is raising money out in California this week.

Raising money while Rome burns.

Epic fail.

Tue, 05/25/2010 - 22:20 | 373451 Apostate
Apostate's picture

Yo.

Gotta get that paper...

Tue, 05/25/2010 - 22:25 | 373461 QuantTrader
QuantTrader's picture

No love for the south.  This is his payback for voting McCain.

Tue, 05/25/2010 - 22:30 | 373467 Apostate
Apostate's picture

Left-wing media is increasingly unemployed. The Republicans have lost control of their political base.

It's FFA. 

Wed, 05/26/2010 - 00:50 | 373688 Howard_Beale
Howard_Beale's picture

See my post below.

Tue, 05/25/2010 - 22:50 | 373493 Crab Cake
Crab Cake's picture

"By all means make your paper Booboo."

Katt Williams - Weed

http://www.youtube.com/watch?v=gWhUqo9Aivs

Wed, 05/26/2010 - 09:19 | 373504 velobabe
velobabe's picture

><

Wed, 05/26/2010 - 00:34 | 373666 William F. Dulle
William F. Dulle's picture

If it was W., gas would be $6 per gallon right now.

Wed, 05/26/2010 - 01:01 | 373676 Howard_Beale
Howard_Beale's picture

Oh STFU, QuantTrader. You said if it were W. all the media would be flipping out. Well, since you don't know what you are talking about, MSNBC, one of my monitored news sources, is blaming the hell out of the Obama administration for not doing something about the gushing well from hell. Yeah, that's right. Chris Matthews, Keith Olbermann, Rachel Maddow are ALL PISSED--those damn liberals.  

Shows what you know while you were busy watching Bill O'Reilly and Glenn Beck. The left wing media, as you call it, is flipping out. They want answers, they want action.

The EPA demanded BP stop using the toxic chemical they were using for cleanup and BP said fuck you, it's all we have.  Epic fail? I'm guessing you can't be over 30 since you keep posting the same stupid words. Get a clue, kiddo, your name doesn't earn you any respect. 

What's your solution? Get it to the administration. They want one and they need one. This is not the Exxon Valdez. This is 10 times that and more. And learn to change the channel before you attack the media you don't even watch. At least I watch both sides to see who is more biased....at this point NO ONE is.

Wed, 05/26/2010 - 02:56 | 373788 Apostate
Apostate's picture

The media establishment really didn't make that much noise about W... minus Glenn Greenwald.

I mean, I'm a guy who railed against the Bush administration and the wars on blogs, in print, in person, and elsewhere at great personal and professional cost. And I've had the hard-won experience of being directly betrayed by so-called "progressives" who find all sorts of justifying arguments for Guantanamo Bay now that it's under different management.

As far as I can tell, most people will just do whatever is comfortable for them in the moment. They will do their best not to offend their friends, family members, or advertisers. If there's one thing I've learned being around "normal" people, it's that they tend to have zero principles or fighting spirit.

Americans live in a political culture that only makes sense in the context of the Federal Reserve system and the various price-fixing schemes for commodities that grew up with it. It's been in place since 1913.

Left-wing, right-wing... both sides merely squabble on how to apportion the greenbacks provided by the Federal Reserve. There is no political culture in the US without central banking.

And furthermore, there are no functioning municipal governments without the investment banks to issue and market bonds.

I doubt the "administration" even knows what the hell it wants other than validation. It's tough for a person to back down from a life of lies.

That being said, your heart is in the right place, Howard.

Wed, 05/26/2010 - 07:19 | 373881 ColonelCooper
ColonelCooper's picture

Agreed.  I would say that at this point the Left wingers are are hyperventilating over this and blaming Obama out of fear.  The Right wingers are only blaming Obama trying to gain some kind of Katrina revenge. 

I HATE BOTH OF THEM.

Tue, 05/25/2010 - 23:19 | 373530 buzzsaw99
buzzsaw99's picture

The pipeline is old and maintenance is expensive, which cuts into bonuses and stock options, can't have that. Same, same, with safety equipment.

Tue, 05/25/2010 - 23:28 | 373547 velobabe
velobabe's picture

FUCK bonuses†

come to terms with you mr. buzz. BOW†

Tue, 05/25/2010 - 23:38 | 373566 whatsinaname
whatsinaname's picture

Toyota, Massey Energy, BP.

what a great year for the regulators of industrial megaplexes.

Wed, 05/26/2010 - 00:47 | 373684 Howard_Beale
Howard_Beale's picture

You forgot RIG.

Wed, 05/26/2010 - 01:00 | 373702 whatsinaname
whatsinaname's picture

And AAPL/Foxconn too.

http://www.reuters.com/article/idCNHKU00233720100526?rpc=44r

Hear about the Foxconn China suicides?

whats up with them?

 

Wed, 05/26/2010 - 01:40 | 373734 Howard_Beale
Howard_Beale's picture

Strange indeed.

Wed, 05/26/2010 - 01:02 | 373705 whatsinaname
whatsinaname's picture

And JNJ too -

they screwed up Tylenol manufacturing..yet again..

Tue, 05/25/2010 - 23:44 | 373580 Hephasteus
Hephasteus's picture

BP's just feeling threatened and doing what any psychopath does when they feel threatened. Kill small animals and wildlife. They just don't bother with doing it one at a time by hand any more.

Wed, 05/26/2010 - 00:47 | 373685 Howard_Beale
Howard_Beale's picture

+ 1 gazillion

Wed, 05/26/2010 - 02:51 | 373783 Miles Kendig
Miles Kendig's picture

Next thing you know BP will suggest they burn off the Mississippi delta...

Wed, 05/26/2010 - 00:50 | 373689 Nolsgrad
Nolsgrad's picture

BP, big div, lotsa free cash flow, lotsa retained earnings, lotsa cash eq.

plus based out of England so Obamanuts can't try to nationalize.

 

juicy div too, I excpect it will drop some though.

Wed, 05/26/2010 - 01:48 | 373740 primefool
primefool's picture

More broadly - what we are seeing is the Real effects of an entire culture that has been mesmerized by finance, stock options, derivatives trading and so on. from the very top leadership down to company CEOs - everyone has been focussed like a laser beam - on finance crap. Not for a year or two - but for a couple of decades - aided and abetted by the Fed.

mass delusion. And the consequences are starting to unfold. Third world level of infrastructure, breakdown in law and order, stuff does'nt work , consumers cannot do simple transactions without worrying abot fraud. The best and brightest are all trading derivatives - leaving the C students to run everything else. Sure things continued for a while due to sheere inertia - but the decay has been obvious. Decay in goods, services and infrastructure. It will take a generation to put this right - if it happens at all.

Wed, 05/26/2010 - 02:06 | 373757 whatsinaname
whatsinaname's picture

since 1982 to be precise - thats when 401k/ira programs started.

middle class did itself in.

Wed, 05/26/2010 - 03:20 | 373809 Wilderman
Wilderman's picture

Indeed, check out the serious ramp in the DJ/SP near 1984.  That's a trend change, for certain.  Long way back to those levels.

Wed, 05/26/2010 - 09:30 | 373967 Cursive
Cursive's picture

@primefool

+1000

Wed, 05/26/2010 - 02:09 | 373759 carbonmutant
carbonmutant's picture

We need to turn up the heat on BP's enablers...

Wed, 05/26/2010 - 02:25 | 373767 eccitante
eccitante's picture

Inheriting problems is not an excuse for making them worse.  Obama has been in office for how long now? Why did his administration not do anything about the lapses at the MMS? Obama is just as bad, and probably worse than Bush.  The USA has a one party system - the system of corporatist whores....

Wed, 05/26/2010 - 06:00 | 373855 anony
anony's picture

There are few on this planet who think that we, who voted for Bush in his first term, wouldn't sell our Golden Retiever pups, to take that vote back, for few men on this planet deserved to hold the office of POTUS less than that privileged cocksucker.

But to say theBamster is worse than him is way over the top, and I wouldn't for vote anyone in the Republicrat party.

No question that theBamster hasn't a clue that he will go down in history as a black man, first, given, literally GIVEN, the chance to shake things up and provide extraordinary leadership, second to none, ever. And wound up in the trash heap of epically failed men intentionally.

One must wonder what magnificent rewards he has been promised to squander so much of the opportunity to take this country in a new direction towards energy independence, rebuilding of the country's falling apart critically ill, infrastructure, and firing the nation's lobbyists.

But worse than Bush? 

WADR, that just might be impossible.

Wed, 05/26/2010 - 07:18 | 373880 Hephasteus
Hephasteus's picture

Shoes are a dream symbol for your approach to life. So that beings.

Same dick, same goals, different shoes.

Wed, 05/26/2010 - 07:00 | 373871 Au Member
Au Member's picture

Friend of mine works for BP. Says that head office have a group think attitude. No free thought allowed and everyone is a kiss ass who comes out with the phrases that the shite management have come up with. Guys on the ground think the bosses are wankers.

Hard to change an entire ethos in a company when it is that bad. They also think they are special due to their status as a global corporation with lots of cash.

Wed, 05/26/2010 - 09:25 | 373962 Cursive
Cursive's picture

I could copy and paste this characterization for any Fortune 1000 company in the U.S.

Wed, 05/26/2010 - 11:29 | 374213 WaterWings
WaterWings's picture

Psychopaths risin'. Same as every empire collapse - top heavy.

Wed, 05/26/2010 - 07:11 | 373876 wang
wang's picture

and from the leftist of left sources, FireDogLake, this article and video with the headline:

Obama: “Oil Rigs Today Generally Don’t Cause Spills”
Wed, 05/26/2010 - 07:11 | 373878 jumpback
jumpback's picture

I WORKED WITH AND FOR BRITS FOR OVER 30 YEARS IN THE OIL INDUSTRY---AND THE MAIN THING YOU ARE MISSING IS THE BRITS LOOK AT US AS A COLONY AND SECOND CLASS.

Wed, 05/26/2010 - 08:01 | 373889 Au Member
Au Member's picture

I'm a Brit, I don't look at the US as second class at all that's bullshit. I look at the US (Corporate entity not people) as crazed profit junkies with an insanely aggressive financial, military and intelligence apparatus that will stop at nothing to maintain the hegemony. I'd like to add that since IG Farben (Wall street funded Nazi behemoth) was wound up in 2003 I can see an overt fascism creeping into the USA now that the power base is entrenched. As a Brit I used to look with envy at the states. Not anymore, it's starting to look like Berlin in the 1930's and if I was living there I'd be getting the fuck out pronto. (Reichstag/911 eerily similar) But then considering the amount of Nazis that infiltrated top govt organisations (CIA, NASA, Manhattan Project, Los Alamos, Finance houses etc etc) after ww2 I'm not really that surprised that this ideology swept over you like a black cloud. Especially given the Bush's power base (Skull and Bones the US branch of the Bavarian illuminati linked to the Nazi SS, Prescot Bush- bankrolling the Nazis For Fucks Sake). I feel for the US people, their idiot government brought in the Nazis at the end of WW2 to cash in on their intellect but forgot that they were fucking nutters running an entirely seperate agenda.

Call me whatever you like but when the US is in lock down think about what I've said. I won't gloat because we are all fucked.

Wed, 05/26/2010 - 07:53 | 373896 Debtless
Debtless's picture

Nuking the hole to stop it by hoping it caves in on itself  - scares the piss out of me.

 

What would McGuyver do? Not that.

Wed, 05/26/2010 - 08:31 | 373914 fsudirectory
fsudirectory's picture

What happens to Jamaica, Bahamas, and all the other Islands in the Gulf Stream?

 

Good thing im going to the Dominican Republic today before Oil starts to wash up there too. Got I fucking hate BP.

Wed, 05/26/2010 - 11:43 | 374238 CatherineAustin
CatherineAustin's picture

Can we prove conclusively that these are accidents? I recommend Jim Norman's book Oil Card. See http://solari.com/blog/?p=6490. BP's stock is up on higher oil prices...

 

Wed, 05/26/2010 - 12:48 | 374444 MsCreant
MsCreant's picture

CAF,

Nice to see you.

If this event in the gulf were shown to be a deliberate act, those involved are insane. That may be the most terrifying thing I have ever heard. You would think self interests would define some kind of limits for how you are willing to treat the one and only rock that supports your life.

Wed, 05/26/2010 - 18:58 | 375745 Hephasteus
Hephasteus's picture

Drool. Oops sorry.

Wed, 05/26/2010 - 22:17 | 376066 Miles Kendig
Miles Kendig's picture

Even choosing to follow the pathway of deliberate indifference would signal certain expected outcomes depending on deployment.. Especially in a world dominated by the supremacy of perception that immediate financial gratification at the expense of all else is the only item worth the mark of a "real predator". These folks have no concept or clue at to what makes a real predator, LDS MF'ers.

Great comment Catherine.  Good to see you on these threads.

Thu, 05/27/2010 - 12:04 | 376946 WaterWings
Thu, 05/27/2010 - 14:13 | 377353 MsCreant
MsCreant's picture

Thanks WaterWings, passed it on already.

Thu, 05/27/2010 - 22:45 | 378336 Miles Kendig
Miles Kendig's picture

Thanks for the link winged amphibian.  Excellent and she is correct of course.  Sorry assed Little Dick Syndrome pukes. No wonder the best concept that the leadership at BP, the rest of the industry and the"regulators" can come up with is increased concentration of macro power. Classic and predictable.

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