traveller Posted July 8, 2010 Group: Royal Member Followers: 5 Topic Count: 827 Topics Per Day: 0.10 Content Count: 12,101 Content Per Day: 1.50 Reputation: 249 Days Won: 3 Joined: 04/01/2002 Status: Offline Share Posted July 8, 2010 Petroleum World had this to say By Christian A. DeHaemer The Dwarves dug too greedily and too deep. You know what they awoke in the darkness of Khazad-dum... shadow and flame. — Saruman, The Lord of the Rings There is something primordial about BP's quest for oil in the Gulf of Mexico. It's an Icarus-like story of super-ambition; of reaching too far, delving too deep. I don't know if you've stopped to contemplate what BP was trying to do... The well itself started 5,000 feet below the surface. That's the depth of the Grand Canyon from the rim. And then the company attempted to drill more than 30,000 feet below that — Mt. Everest would give 972 feet to spare. Furthermore, the company sought oil in a dangerous area of the seabed. It was unstable and many think BP sought it out because seismic data showed huge pools of methane gas — the very gas that blew the top off Deepwater Horizon and killed 11 people. More than a year ago, geologists criticized Transocean for putting their exploratory rig directly over a massive underground reservoir of methane. According to the New York Times , BP's internal "documents show that in March, after several weeks of problems on the rig, BP was struggling with a loss of 'well control.' And as far back as 11 months ago, it was concerned about the well casing and the blowout preventer.” The problem is that this methane, located deep in the bowels of the earth, is under tremendous pressure... Read More Link to comment Share on other sites More sharing options...
Rick-Parker Posted July 8, 2010 Group: Royal Member Followers: 8 Topic Count: 200 Topics Per Day: 0.23 Content Count: 4,273 Content Per Day: 4.86 Reputation: 1,855 Days Won: 0 Joined: 12/17/2021 Status: Offline Birthday: 06/03/1955 Share Posted July 8, 2010 Wow! I wouldn't want to be living in the Gulf states right now. Link to comment Share on other sites More sharing options...
other one Posted July 8, 2010 Group: Worthy Ministers Followers: 29 Topic Count: 599 Topics Per Day: 0.08 Content Count: 56,260 Content Per Day: 7.56 Reputation: 27,988 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted July 8, 2010 Personally, I don't think any of this was an accident. The things that lead up to the blowout are such a string of stupidity that it's hard to think anyone is this bad...... for it's not just BP. OUr own government is just as involved for these people should have never been given the permit to drill there. Too many geologists have said it was folly from before the well was started. And since then, what has been done to stop it, or the oil itself revovered from the water before it got to shore...... or I should say what has not been done that could have been is just mind boggling. Agenda's That's what is going on in the Gulf. Link to comment Share on other sites More sharing options...
BlindSeeker Posted July 8, 2010 Group: Royal Member Followers: 0 Topic Count: 69 Topics Per Day: 0.01 Content Count: 4,069 Content Per Day: 0.53 Reputation: 427 Days Won: 5 Joined: 03/22/2003 Status: Offline Share Posted July 8, 2010 Wow! I wouldn't want to be living in the Gulf states right now. Me either . . . . Link to comment Share on other sites More sharing options...
georgedrw81 Posted July 9, 2010 Group: Royal Member Followers: 0 Topic Count: 7 Topics Per Day: 0.00 Content Count: 1,823 Content Per Day: 0.33 Reputation: 36 Days Won: 2 Joined: 04/10/2009 Status: Offline Share Posted July 9, 2010 Personally, I don't think any of this was an accident. The things that lead up to the blowout are such a string of stupidity that it's hard to think anyone is this bad...... for it's not just BP. OUr own government is just as involved for these people should have never been given the permit to drill there. Too many geologists have said it was folly from before the well was started. And since then, what has been done to stop it, or the oil itself revovered from the water before it got to shore...... or I should say what has not been done that could have been is just mind boggling. Agenda's That's what is going on in the Gulf. Right Link to comment Share on other sites More sharing options...
traveller Posted July 9, 2010 Group: Royal Member Followers: 5 Topic Count: 827 Topics Per Day: 0.10 Content Count: 12,101 Content Per Day: 1.50 Reputation: 249 Days Won: 3 Joined: 04/01/2002 Status: Offline Author Share Posted July 9, 2010 Something is puzzling to me - yesterday Anadarka's stock went up 2.97. Anadarka (APC) bought 25% of BP's gulf well a few months before it exploded. The resulting fiasco following brought the stock down from the high of around 72.00 to yesterday's rate of 44.00 after the gain. It's been as low as 34. However, why such a stiff upturn all of a sudden? Makes me wonder what APC knows, or at least what they're being told. It's just that it takes a lot of trading to make a stock go up that much in one day. Y'all dont pay attention to my ramblings - I normally find the strangest things interesting. Link to comment Share on other sites More sharing options...
other one Posted July 10, 2010 Group: Worthy Ministers Followers: 29 Topic Count: 599 Topics Per Day: 0.08 Content Count: 56,260 Content Per Day: 7.56 Reputation: 27,988 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted July 10, 2010 Something is puzzling to me - yesterday Anadarka's stock went up 2.97. Anadarka (APC) bought 25% of BP's gulf well a few months before it exploded. The resulting fiasco following brought the stock down from the high of around 72.00 to yesterday's rate of 44.00 after the gain. It's been as low as 34. However, why such a stiff upturn all of a sudden? Makes me wonder what APC knows, or at least what they're being told. It's just that it takes a lot of trading to make a stock go up that much in one day. Y'all dont pay attention to my ramblings - I normally find the strangest things interesting. The whole market went up. One of my 401k's went up 2.6% in one day. Hope it keeps up this week while I transfer them into an annuity. Link to comment Share on other sites More sharing options...
traveller Posted July 10, 2010 Group: Royal Member Followers: 5 Topic Count: 827 Topics Per Day: 0.10 Content Count: 12,101 Content Per Day: 1.50 Reputation: 249 Days Won: 3 Joined: 04/01/2002 Status: Offline Author Share Posted July 10, 2010 The court ruled against the moritorium again. That's why offshore went up. Link to comment Share on other sites More sharing options...
other one Posted July 10, 2010 Group: Worthy Ministers Followers: 29 Topic Count: 599 Topics Per Day: 0.08 Content Count: 56,260 Content Per Day: 7.56 Reputation: 27,988 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted July 10, 2010 May also have something to do with this: Anadarko Petroleum Corp. says it won't help BP pay for the worst oil spill in U.S. history. The Houston company, which owns 25 percent of BP's blown-out well in the Gulf of Mexico, said Friday it has refused to send the $272 million contribution that BP requested in June. As part owner, Anadarko was on the hook to help pay to corral and clean up the spill. The company believes it should be excused from payments because of BP's reckless handling of the failed deepwater operation. "Multiple proceedings and independent investigations are under way into BP's actions and decisions on the rig," spokesman John Christiansen said in a statement. "Although we have notified BP that we are withholding reimbursement to BP at this time, we remain committed to working with BP in good faith." http://news.yahoo.com/s/ap/20100709/ap_on_bi_ge/us_bp_anadarko_3 Link to comment Share on other sites More sharing options...
rpfan76 Posted July 10, 2010 Group: Junior Member Followers: 0 Topic Count: 0 Topics Per Day: 0 Content Count: 117 Content Per Day: 0.02 Reputation: 4 Days Won: 0 Joined: 07/21/2008 Status: Offline Share Posted July 10, 2010 I saw something yesterday about somebody wanting to buy out BP. I think the Chinese were implicated. Link to comment Share on other sites More sharing options...
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