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The BP fiasco...and Goobermint too

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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/03/2010 at 11:19
bugsNbows View Drop Down
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bowsNbugs

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Everybody is running around pointing the blame finger everywhere. How about lets just stop the leak first, then assess past and future direction? Any wizzbang OT members care to chime in? Is my thought process flawed? I'll bet Ted has some relevant thoughts. Thinking
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/03/2010 at 11:23
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Chief Sackscratch

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I agree.  The #1 problem is the leak. Stop it and blame later.  Kinda like a fire department going to a fire and look at who started it before they put it out.   Somethings backasswards here.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/03/2010 at 12:00
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show me your sheep!!

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Its called Federal Government
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/05/2010 at 17:56
mike650 View Drop Down
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Originally posted by SVT_Tactical SVT_Tactical wrote:

I agree.  The #1 problem is the leak. Stop it and blame later.  Kinda like a fire department going to a fire and look at who started it before they put it out.   Somethings backasswards here.


Absolutely!!!

http://news.yahoo.com/s/ap/20100605/ap_on_bi_ge/us_gulf_oil_spill

Cencored
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/07/2010 at 17:35
RifleDude View Drop Down
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Originally posted by bugsNbows bugsNbows wrote:

I'll bet Ted has some relevant thoughts. Thinking
 
Human error, plain and simple.  Nobody expected what has happened would happen to this degree, so there were no plans to deal with a disaster of this magnitude. 
 
The government isn't helpful whatsoever and only complicates matters.  We wouldn't be drilling in 5000' of water in the first place had it not been for restrictive government over-regulation, making it difficult or impossible to drill in the "easy" locations. 
 
This doesn't mean I don't hold the responsible parties blameless.  In my view, if you aren't prepared to deal with the "worst case" consequences of catastrophic failure in deep water drilling, you ought not be doing it until you are.
 
It will be interesting to see how BP survives the aftermath of all the lawsuits that will surely come from this.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/08/2010 at 22:18
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Don't think there are that many asses that Obama - the "Dope and Strange" guy can kick.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/09/2010 at 07:19
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Chief Sackscratch

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I have thought about this several times and I think i wanna go ahead and do it being the promise from Commander and Cheif ASSBama.  I take full responsiblity for the leak I caused it....... PLEASE PLEASE come "kick my ass"  God would that make me happy to see you pull up at my house!
 
What you think Billy?
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/09/2010 at 10:13
stephen b View Drop Down
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Yes I would like to see that also. As George W. would say "Bring it on"
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/09/2010 at 11:33
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Obama to Reopen Drilling
by  Laura Meckler & Jonathan Weisman
The Wall Street Journal 6/8/2010

WASHINGTON (Dow Jones Newswires), June 8, 2010

The Obama administration, facing rising anger on the Gulf Coast over the loss of jobs and income from a drilling moratorium, said Monday that it would move quickly to release new safety requirements that would allow the reopening of offshore oil and gas exploration in shallow waters.

Gulf Coast residents, political leaders and industry officials said delays in releasing the new rules, along with the administration's six-month halt on deepwater drilling -- both issued amid public pressure -- threatened thousands of jobs.

Well-owner BP PLC, meanwhile, faces penalties "in the many billions of dollars," for the Deepwater Horizon drilling disaster that has been spewing an estimated minimum 12,000 to 19,000 barrels of oil a day into the Gulf, said White House Press Secretary Robert Gibbs. The costs of the spill will "greatly exceed" the amount BP could recoup by selling any of the captured oil on the market, he said Monday.

U.S. Coast Guard Admiral Thad Allen, who heads the federal response, said BP's latest emergency containment system is on track to capture as much as 15,000 barrels of oil per day. Officials said BP's latest oil capping system, put in place at the end of last week, was so far collecting about 11,000 barrels a day.

The oil industry is awaiting new safety regulations from the Interior Department's Minerals Management Service, which canceled some offshore drilling permits last week and has had others on hold since early May. Administration officials say new rules for shallow water oil and gas drilling could be released as soon as Tuesday.

President Barack Obama met with Cabinet officials on the spill Monday and expressed optimism that the spill would be contained, but he pointed to the potential for long-term economic damage. "What is clear is that the economic impact of this disaster is going to be substantial and it is going to be ongoing," he said.

The new drilling regulations are expected to require drillers to have independent operators certify that the blowout preventers work as designed to shut off the flow of oil; that independent operators certify the well design plan is adequate, including proper casing, or cement lining; that the driller certifies it is in compliance with all regulations and have done all needed tests.

The moratorium on offshore drilling is shaping up to be one of the most contentious elements of Mr. Obama's response to the April 20 explosion that sank the rig and touched off the worst offshore oil spill in U.S. history.

The White House is working on a legislative package that will include further unemployment benefits for people who have lost work due to the spill or the drilling moratorium.

The Small Business Administration is offering economic injury loans to Gulf Coast businesses that have been impacted.

Industry trade groups say that each deepwater rig employs 180 to 280 workers, with each of those jobs supporting another four industry workers, for a total potential loss of more than 40,000 jobs. The moratorium "will result in crippling job losses and significant economic impacts for the Gulf region," the National Ocean Industries Association said in a letter Monday.

The House passed an economics package in May that more than quadruples a levy on oil companies for spill mitigation, to 34 cents a barrel from eight cents.

House Democratic leaders will meet on Tuesday with committee chairs to work out the House's next steps on raising liability limits, reorganizing the federal regulatory structure on oil drilling and forcing the oil industry to spend more on safety and environmental technology research.

The White House said Monday that it supported lifting the cap on liability damages altogether for any oil companies drilling offshore. The cap is $75 million unless the government can show criminal negligence.

Some Republicans and industry groups have cautioned that putting the liability cap too high could make it tough for smaller companies to drill offshore.

The debate over how to respond to the Gulf spill disaster has put Mr. Obama in a difficult spot. He has sought to answer environmental concerns in part by ordering a six-month moratorium on new wells in water deeper than 500 feet, and calling for tougher safety regulation.

But during a trip to the Gulf on Friday, Mr. Obama also heard widespread complaints about the deepwater moratorium.

A group of political leaders demanded the administration issue new safety regulations for shallow-water drilling, since no new permits were being approved until the oil firms can show they will abide by the tougher standards.

During a meeting at a bait shop between the president and local fishermen in Grand Isle, La., local shrimper Terry Vegas told the president that oil companies were not necessarily the bad guys.


Ted


Money can't buy happiness... but it's much more comfortable to cry in a Porsche than on a bicycle.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/13/2010 at 17:41
mike650 View Drop Down
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Gulf of Mexico oil spill: timeline (so far)

The oil spill in the Gulf of Mexico that followed an explosion on the Deepwater Horizon drilling rig is now considered the largest in US offshore history. Below is a chronology of the spill and its impact:

By Ben Leach
Published: 10:09AM BST 10 Jun 2010
Telegraph.co.uk

April 20, 2010

An explosion on the Deepwater Horizon offshore oil drilling rig in the Gulf of Mexico, around 40 miles south east of Louisiana, kills 11 workers and injures 17 others.

The rig is owned and operated by Transocean, a company hired by BP to carry out the drilling work.

April 22

The US Coast Guard estimates that the rig is leaking oil at the rate of up to 8,000 barrels a day. Two remotely operated underwater vehicles (ROVs) are sent down to attempt to cap the well, but prove unsuccessful.

Another two ROVs are dispatched in an attempt to activate the blowout preventer – a giant series of pipes and valves that could staunch the leak – but again prove unsuccessful.

April 27

BP reports that its first-quarter profits more than double to £3.65 billion following a rise in oil prices.

April 30

City analysts including Morgan Stanley predict that the disaster could cost BP between £1 billion and £3 billion as shrimpers in the state of Louisiana file the first class-action lawsuits against BP and the platform’s owners.

May 3

Work begins on a drilling a relief well to isolate the leak as Tony Hayward, BP’s chief executive, indicates that the firm will seek compensation from Transocean.

The slump in BP share prices reaches 15 per cent as some experts predict the total compensation and clean-up bill could be around £10.6 billion.

One of the biggest oil containment operations ever attempted begins, with a flotilla of nearly 200 boats sent to tackle the spill.

May 10

BP admits it has dramatically underestimated the cost of the leak and that it has already reached around £240 million.

May 12

James Dupree, BP's senior vice president for the Gulf, admits during congressional hearings in the US that a safety valve protecting the oil well failed a key pressure test just hours before the explosion.

May 17

Shares rise as BP says it is capturing about a fifth of the estimated oil gushing from the ruptured well by using a pipe to divert it from the sea bed onto a ship.

May 18

Mr Hayward claims the environmental impact of the spill will be "very, very modest". His reassurances coincide with the discovery of the first tar balls from the spill off Florida.

Experts begin to fear that currents could be directing a slick the size of Luxembourg towards US coastal areas.

The US government announces it is nearly tripling the size of an area in the Gulf of Mexico that is closed to fishing.

May 28

BP attempts a “top kill” operation to plug the spill. The company admits that the procedure has never before been attempted at such depths and its “ultimate success” is uncertain.

The total cost to the firm reaches around £638 million as Barack Obama states that BP would "pay every dime" for the damage caused and criticised the "cosy and sometimes corrupt" relationship between regulators and the oil industry.

June 1

BP shares tumble a further 15 per cent after it admits its “top kill” operation was unsuccessful. It emerges that the company has lost a quarter – £30 billion – of its market value since the explosion.

Meanwhile, documents emerge showing that the firm was given permission to drill in the Gulf of Mexico after promising it was equipped to deal with a spill 10 times larger than the current leak.

Eric Holder, the US Attorney General, announces he will visit the site of the spill for the first time on Tuesday, increasing speculation that a criminal investigation will be launched.

June 7

BP says a second containment system to stem the leak should be ready by "mid-June", as costs of the clean-up rise to £860 million and the total share-price slump reaches 30 per cent.

June 8

Norway bans new deepwater oil drilling in the North Sea in a sign that panic over BP's Gulf of Mexico spill is spreading.

Meanwhile the US President attacks Mr Hayward, saying he should have been sacked for tactless comments made after the spill.

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