A Disaster Of Mega Proportions Brewing In Gulf

[mikegideon]

Somebody just shot up a Memphis area BP store...

Bullets Shatter Glass at BP Gas Station - WREG

[Guest 6.8 AR]

That is so stupid.

[Guest jackdm3]

BP quit sucking because of lightning.

BP suspends oil siphoning after lightning strike - MarketWatch

[Guest HvyMtl]

Opinion article, from a person who seems to know the industry:

The Oil Drum | Deepwater Oil Spill - A Longer Term Problem, Personnel - and Open Thread 2

The short of it, we are in deep ...

If you have property like a time share Condo, or beach house, etc. on the beaches of Alabama, and the Florida panhandle, it may be time to sell...

[Guest jackdm3]

Got a close friend who did Muscle Shoals last week and I'm waiting for the report.

[mikegideon]

Opinion article, from a person who seems to know the industry:

The Oil Drum | Deepwater Oil Spill - A Longer Term Problem, Personnel - and Open Thread 2

The short of it, we are in deep ...

If you have property like a time share Condo, or beach house, etc. on the beaches of Alabama, and the Florida panhandle, it may be time to sell...

That's pretty depressing. We already knew there was a casing failure. I doubt you could sell a condo today and come out on it.

[G27]

Opinion article, from a person who seems to know the industry:

The Oil Drum | Deepwater Oil Spill - A Longer Term Problem, Personnel - and Open Thread 2

The short of it, we are in deep ...

Oh man, that's a chilling article.

[mikegideon]

-- Government officials raise estimate of oil spewing from a well in the Gulf of Mexico to 35,000-60,000 barrels per day.

[Guest 6.8 AR]

"Government" and "official" in the same sentence is a worrisome combination, nowadays.

If that well is putting out that much oil per day, and it may be, that would have been a money maker, may still be. They are going to need the revenue to pay the government and the lawyers and the gulf coast victims.

BP's credit rating has almost arrived at junk bond status. That's something that doesn't need to happen, right now.

[Mike.357]

has anyone ever seen an estimate of when the well will run dry?

[mikegideon]

has anyone ever seen an estimate of when the well will run dry?

It's in that linked article. Huge reserve

[Guest 6.8 AR]

If it's pushing oil up from a depth of two or more miles, where the oil is, it has to be a huge reserve and under a lot of pressure.

[Oh Shoot]

Got a close friend who did Muscle Shoals last week and I'm waiting for the report.

That's a pretty bizarre statement, even from Planet Jack.

What the frig does Muscle Shoals have to do with the gulf?

- OS

[mikegideon]

That's a pretty bizarre statement, even from Planet Jack.

What the frig does Muscle Shoals have to do with the gulf?

- OS

If you pee in the river, it winds up in the gulf. Heavy, ain't it

[Guest jackdm3]

Gulf Shores! Dangit Jessie.I was answering emails, my cell and at the same time my eyes were popping out of my head being sick in NOLA and missing most of it. What's today?

Edited June 16, 2010 by jackdm3

[Oh Shoot]

If you pee in the river, it winds up in the gulf. Heavy, ain't it

Could only help, I guess.

There was some "authority" on news the other night calling for regional watersheds to divert more water toward the Big Muddy.

But Jack's buddy could have just peed in Memphis - would get there MUCH quicker.

- OS

[Oh Shoot]

Gulf Shores! Dangit Jessie.

Ah, good. Still a modicum of intact cranial neurotransmitters.

- OS

[Guest jackdm3]

Really, guys. I've not spent a day of sickness in months, we get into LA and my wife picks up a Netty pot for sinuses and the next day I'm overcome with significant fatigue and the room's spinning a little. We pushed through it when we could and I got some interesting pics to show y'all if it wasn't all a dream.

[Oh Shoot]

Really, guys. I've not spent a day of sickness in months, we get into LA and my wife picks up a Netty pot for sinuses and the next day I'm overcome with significant fatigue and the room's spinning a little. We pushed through it when we could and I got some interesting pics to show y'all if it wasn't all a dream.

Thanks for Netty Pot, I learned something.

Hope yer feelin' better.

- OS

[Guest jackdm3]

Looks like we'll be better only about the time we get home. Tomorrow's playday in the Easy if we can push ourselves: The National WWII Museum, The Aquarium of the Americas, Cafe Du Monde, and if time allows, The Arsenal and the Whisnant Gallery of Medieval weapons.

[mikegideon]

-- BP to put $20 billion into a fund to pay for Gulf oil disaster claims, senior administration official tells CNN.

Maybe Obama did grow a pair in the 11th hour. I feel a little better after the underwhelming speech last night.

[Guest SUNTZU]

Or BP was going to do it anyways. You don't all of a sudden decide to drop 20 billion dollars, do you? I've never led a Fortune 500 company like you, mike, so I'd appreciate your thoughts on the matter.

[Guest db99wj]

Every time I have seen a BP official, they have, from the start, said they were going to pay to clean it up, pay to ones that lost jobs, etc, and etc, but the administration keeps saying stuff like, we are going to make them pay, every time BP does something regarding paying, like above, the administration jumps all over and takes credit.

I'm at the point where I think they are all full of

I'm also sick of seeing MS Gov Haley Barbour in the commercials, saying that MS is fine, the beaches are open, fishin's good, come on down.

[mikegideon]

Or BP was going to do it anyways. You don't all of a sudden decide to drop 20 billion dollars, do you? I've never led a Fortune 500 company like you, mike, so I'd appreciate your thoughts on the matter.

As in most cases, we can't know for sure. They knew it was coming, and knew the number that was being kicked around by congress. Did they give it up out of the goodness of their hearts? No.

Any surprises happened behind closed doors.

I never led a fortune 500 company either. I was a VP, but there were quite a few of us. My budgets were in the millions, not the billions of the company as a whole. I did get a good picture of how major corporations work. We never created any of our own disasters, but I know how the PR weasels work.

Here's what we know for sure... this has to be a good thing for the folks on the Gulf Coast. BP was nickel-diming them. Since this was Obama's meeting, and the results are what they are, it "looks like" he had something to do with it, and maybe even stood his ground.

[mikegideon]

Every time I have seen a BP official, they have, from the start, said they were going to pay to clean it up, pay to ones that lost jobs, etc, and etc, but the administration keeps saying stuff like, we are going to make them pay, every time BP does something regarding paying, like above, the administration jumps all over and takes credit.

I'm at the point where I think they are all full of

I'm also sick of seeing MS Gov Haley Barbour in the commercials, saying that MS is fine, the beaches are open, fishin's good, come on down.

It was in BP's own best interest to claim that they would pay for everything. Straight out of the PR playbook. The insurance companies said the same things to those folks, and it never happened. The deal ain't done until the check clears. Fact is, people were NOT getting paid promptly by BP. Doesn't even matter if it was intentional, but my money says it was.

The administration doesn't need to be tooting their horn too loud. They haven't exactly done a stellar job. With that said, the 20 bil is a good thing.

Gotta love Haley. He's Boss Hogg