A Disaster Of Mega Proportions Brewing In Gulf

[mikegideon]

Don't turn it towards me, Mike, its the man in the White House who is supposed to deal with this. Since its beyond what they can handle WITH THEIR KNOWLEDGE BASE, maybe they should CUT red tape instead of lawyering up all over the place, creating MORE red tape, and shrilly screaming off with their heads everytime they see a video camera. There are lots of ideas out there on what to do; I don't need to review them here.

Just saying.

Didn't mean to turn it around on you. If they're impeding things with red tape, and I'm not talking about overseeing, then shame on them. I just don't know that it's happening, or where you would even go to find out.

Can we argue about religion now? My god can kick your God's ass

[Guest SUNTZU]

I thought you said you listened to everything he has said. His clean energy agenda doesn't involve shutting down domestic oil production in the near term at all. In fact, we would have to eliminate our dependence on middle eastern oil first. he's saying, we need to fix systems that were already supposed to be in place, so we don't have another major event.

The whole message, at this point is... If you don't ever start, you won't ever get there. Nothing wrong with clean energy, but it's not here yet. We're looking at 10 years for some of it.

I'll believe differently when I see REAL evidence, not speculation from a pundit.

We have both said that we listen to what Obama is saying...the question is, do you do it with admiration or disgust? His "answers" point fingers and assign blame while all the time extolling his socialist policies. That will stop the oil.

[Guest SUNTZU]

Didn't mean to turn it around on you. If they're impeding things with red tape, and I'm not talking about overseeing, then shame on them. I just don't know that it's happening, or where you would even go to find out.

Ever hear the phrase "due to pending litigation and on the advice of legal counsel we cannot discuss (fill in the blank)"? Lawyers and blame do not make for open discussion on how to fix the problem.

Can we argue about religion now? My god can kick your God's ass

There are quite a few in the Pantheon.

[mikegideon]

Ever hear the phrase "due to pending litigation and on the advice of legal counsel we cannot discuss (fill in the blank)"? Lawyers and blame do not make for open discussion on how to fix the problem.

There are quite a few in the Pantheon.

Mine is John Moses Browning, and I got one of his shotguns busted apart on my bench. Think I'm gonna head up for the afternoon service.

[Guest SUNTZU]

Oh good, use his shotgun then. I'm bringing a roman candle and a BIC lighter.

[mikegideon]

Oh good, use his shotgun then. I'm bringing a roman candle and a BIC lighter.

I'll let you shoot the shotgun. It's cool

[Capbyrd]

What I want to know, is why hasn't anyone called Captain Planet?

[Guest Lester Weevils]

Who would YOU put in charge, and how would YOU do it?

Anyone who has suffered thru one or more of the zillions of unwatchable made-for-syfy-channel movies, already knows the answer-- Which works equally well for mega-earthquakes, mega-hurricanes and mega-volcanos. It works for global biological hazards, giant alien and/or mutant critters, deadly asteroids, exploding moon, or exploding sun.

A BIG OLE NUKE will solve any catastrophe. Sometimes you need several big ole nukes. But usually only one is necessary.

However, the nuke must be applied in the proper fashion. BP must hire a handsome wise-cracking irreverent hero who has a shameful spot on his previous service record. BP must also hire a beautiful brainy lady scientist with horn rim glasses and 99th percentile chest size.

The nuke must be hand-delivered. Remote delivery and detonation won't work. The dude must pilot an experimental deep-water sub right down to the wellhead, and the beautiful scientist must come along because she is the only person in the entire universe who knows the exact perfect spot to attach the BIG OLE NUKE.

After pushing a button on the nuke's 10 minute countdown timer, they must hightail it out before the nuke pops. The nuke's countdown timer MUST have an old-fashioned red LED 7-segment display. It is highly probable that some kind of equipment malfunction or psychotic crew member will cause them to almost not make it out alive, but everything will be fine in the end.

This is the ONLY solution that will work.

[mikegideon]

The best psycho...

[Oh Shoot]

I'm wondering just how many billion BP will actually throw in the pot before it just declares bankruptcy, with the top 50 execs slipping off with gawd knows how much, and leaves the US with a "sorry dudes, we're broke" note.

- OS

[Oh Shoot]

I'm wondering just how many billion BP will actually throw in the pot before it just declares bankruptcy (with the top 100 execs slipping off with gawd knows how much of course) and leaves the US with a "sorry dudes, we're broke" note.

Already seeing some musings suggesting that outcome:

BP shares dive; analyst says situation has 'smell of death' - USATODAY.com

- OS

[Guest Lester Weevils]

I'm wondering just how many billion BP will actually throw in the pot before it just declares bankruptcy (with the top 100 execs slipping off with gawd knows how much of course) and leaves the US with a "sorry dudes, we're broke" note.

Already seeing some musings suggesting that outcome:

BP shares dive; analyst says situation has 'smell of death' - USATODAY.com

- OS

If BP begins to founder before it can pay off its debt, then it is OBVIOUS that the govt will have to bail out BP with taxpayer debt, so that BP can take the bailout money and pay off its debt (after generous management bonuses 'taken off the top'). It is the Obama way (though GWB was pretty good at it too).

[Oh Shoot]

If BP begins to founder before it can pay off its debt, then it is OBVIOUS that the govt will have to bail out BP with taxpayer debt, so that BP can take the bailout money and pay off its debt (after generous management bonuses 'taken off the top'). It is the Obama way (though GWB was pretty good at it too).

I'm really thinking that worst case (and so far that's all we've seen) this could be the "trigger event" to really topple the ever increasingly fragile US economy.

Just think of essentially every fisherman, shrimper, crabber, oysterman, lobsterman, charter boat owner, etc in 3 (or more) states being jobless for what? 6 months? a year? two? more? And all the surrounding and tangential economies that depend on them. Then the personal and commercial real estate crash resultant from all those folks simply having to pack up and move and nobody moving IN. Not to mention the tourist industry if this thing DOES indeed start frigging up vacation beaches, too. Etc etc.

If you think about it, I'm not sure there's enough (yet unprinted of course) real money in this country TO "make things whole" again if BP/Transocean/Halliburton duck out.

Even if they don't flat bail, you can tell already that once that leak does indeed get really stopped, they'll just spend millions on lawyers for the next decade or two, rather than the billions in reparations. Which of course means that WE have to eat it all, or just speed up the printing presses so we accelerate what looks like will have to eventually result in the death knell - hyperinflation.

- OS

[Guest 6.8 AR]

It'll take more than this to kill BP. Exxon is still around and they pony'd up. Of course

it took some persuasion by an Alaskan Governor. Their stock price will suffer, but it will

get back up there. They will pay for this. It may not be enough to suit everyone, but they will pay, and some may go to jail, also.

[Guest jackdm3]

I'm really thinking that worst case (and so far that's all we've seen) this could be the "trigger event" to really topple the ever increasingly fragile US economy.

Just think of essentially every fisherman, shrimper, crabber, oysterman, lobsterman, charter boat owner, etc in 3 (or more) states being jobless for what? 6 months? a year? two? more? And all the surrounding and tangential economies that depend on them. Then the personal and commercial real estate crash resultant from all those folks simply having to pack up and move and nobody moving IN. Not to mention the tourist industry if this thing DOES indeed start frigging up vacation beaches, too. Etc etc.

If you think about it, I'm not sure there's enough (yet unprinted of course) real money in this country TO "make things whole" again if BP/Transocean/Halliburton duck out.

Even if they don't flat bail, you can tell already that once that leak does indeed get really stopped, they'll just spend millions on lawyers for the next decade or two, rather than the billions in reparations. Which of course means that WE have to eat it all, or just speed up the printing presses so we accelerate what looks like will have to eventually result in the death knell - hyperinflation.

- OS

I own way too much Transocean stock, for over two years. It's where it was 2 years ago with the oil bubble. I can't really see how they're gonna make out good on this for a long time.

[mikegideon]

I'm really thinking that worst case (and so far that's all we've seen) this could be the "trigger event" to really topple the ever increasingly fragile US economy.

Just think of essentially every fisherman, shrimper, crabber, oysterman, lobsterman, charter boat owner, etc in 3 (or more) states being jobless for what? 6 months? a year? two? more? And all the surrounding and tangential economies that depend on them. Then the personal and commercial real estate crash resultant from all those folks simply having to pack up and move and nobody moving IN. Not to mention the tourist industry if this thing DOES indeed start frigging up vacation beaches, too. Etc etc.

If you think about it, I'm not sure there's enough (yet unprinted of course) real money in this country TO "make things whole" again if BP/Transocean/Halliburton duck out.

Even if they don't flat bail, you can tell already that once that leak does indeed get really stopped, they'll just spend millions on lawyers for the next decade or two, rather than the billions in reparations. Which of course means that WE have to eat it all, or just speed up the printing presses so we accelerate what looks like will have to eventually result in the death knell - hyperinflation.

- OS

BP: Balance Sheet for BP p.l.c. Common Stock - Yahoo! Finance

[Oh Shoot]

It'll take more than this to kill BP. Exxon is still around and they pony'd up. .

It's my overall understanding, that after 15 years, and the fed courts lowered the judgment TWICE, Exxon paid around 3 billion dollars all total in damages and fixits.

That was for a handful of people and a tiny area compared to this one. And of course, the ecosystem there has still not fully recovered, and you can still pool oil by digging a 3 foot deep hole.

I think BP has already spent maybe half a billion, and of course has not even touched on the actual economic impact of just the lost income from the coastal folks thus far. Hell, there will be more suicides on the Gulf Coast than all the folks who simply left Cordova in Alaska (although there were a number of suicides in just that small burg.

And even if they stop this thing next week, the effects are still really in their infancy. There are combined plumes of oil/dispersant out there bigger than frigging New England.

First good tropical storm down there may make this a whole new ballgame, too.

I am far far far from optimistic.

- OS

[mikegideon]

It's my overall understanding, that after 15 years, and the fed courts lowered the judgment TWICE, Exxon paid around 3 billion dollars all total in damages and fixits.

That was for a handful of people and a tiny area compared to this one. And of course, the ecosystem there has still not fully recovered, and you can still pool oil by digging a 3 foot deep hole.

I think BP has already spent maybe half a billion, and of course has not even touched on the actual economic impact of just the lost income from the coastal folks thus far. Hell, there will be more suicides on the Gulf Coast than all the folks who simply left Cordova in Alaska (although there were a number of suicides in just that small burg.

And even if they stop this thing next week, the effects are still really in their infancy. There are combined plumes of oil/dispersant out there bigger than frigging New England.

First good tropical storm down there may make this a whole new ballgame, too.

I am far far far from optimistic.

- OS

The under water plumes are scary, but nobody is admitting to them, including the government.

[Oh Shoot]

BP: Balance Sheet for BP p.l.c. Common Stock - Yahoo! Finance

Do I read this correctly, in thousands:

Net Tangible Assets $71,165,000 $76,032,000 $70,243,000

That's like, $70 Billion?

If so, it's not nearly enough.

Not like they'll ever have to part with it anyway, with the best lawyers money can buy (of which the US gummit has NONE, especially our doofus Attorney General).

- OS

[mikegideon]

Now they have abandoned the diamond saw, and back to the top hat. Greatest minds my old flabby butt.

[Oh Shoot]

The under water plumes are scary, but nobody is admitting to them, including the government.

Well, at least one observable surface slick is the size of Maine.

We'll just settle for that cheery comparison, then.

- OS

[Mike.357]

the amount of destruction has not even begun yet. The gulf coast will never be the same.

Heard on Fox last night that this may go on until December.

[Guest 6.8 AR]

I'm really thinking that worst case (and so far that's all we've seen) this could be the "trigger event" to really topple the ever increasingly fragile US economy.

Just think of essentially every fisherman, shrimper, crabber, oysterman, lobsterman, charter boat owner, etc in 3 (or more) states being jobless for what? 6 months? a year? two? more? And all the surrounding and tangential economies that depend on them. Then the personal and commercial real estate crash resultant from all those folks simply having to pack up and move and nobody moving IN. Not to mention the tourist industry if this thing DOES indeed start frigging up vacation beaches, too. Etc etc.

If you think about it, I'm not sure there's enough (yet unprinted of course) real money in this country TO "make things whole" again if BP/Transocean/Halliburton duck out.

Even if they don't flat bail, you can tell already that once that leak does indeed get really stopped, they'll just spend millions on lawyers for the next decade or two, rather than the billions in reparations. Which of course means that WE have to eat it all, or just speed up the printing presses so we accelerate what looks like will have to eventually result in the death knell - hyperinflation.

- OS

I heard on the news, yesterday, that they have already spent 1 billion.

Don't know what they spent it on but I'm sure it's only the beginning.

If it is a "trigger event", then we will all want to know why the fed didn't

get involved in this a lot earlier because, like you said, we will all be paying

for it with not yet printed money.

Remember James Carville saying "we're all dying down here"? Jon stewart

now calls it "The Spilling fields". I'm sure there are others, other than Fox

or the Republicans, criticizing the fed for their lack of response. I don't

really care for either of those two, but they appear to agree that the

government should have acted sooner with at least allowing technology,

manpower and resources to be utilized. They may be fearing the same as

you. I'm wondering if the feds nonaction is intentional for that very

reason. Kind of hard to sue the fed. The current occupant of the White

is either very naive, or is very cunning and maybe he thinks it is a trigger

event that just happened to show up. "Don't let a good emergency go to

waste".

[mikegideon]

the amount of destruction has not even begun yet. The gulf coast will never be the same.

Heard on Fox last night that this may go on until December.

Geez... who said December? Nothing would surprise me out of those clowns right now, but they have two (thanks to our government) relief wells underway. One or the other should hit the mark and stop this thing in August. That will be devastating enough.

[mikegideon]

Well, at least one observable surface slick is the size of Maine.

We'll just settle for that cheery comparison, then.

- OS

Not sure you got what I was saying. The visible stuff can be quantified and attacked (successfully or not), but the underwater stuff will be almost impossible to deal with.