Gulf Of Mexico Oil Spill - 'Berrin Special'

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Gulf of Mexico Oil Spill - 'Berrin Special' May 24, 2010
Watch these high res. photos and spit your anger out.

http://www.boston.com/bigpicture/2010/0 ... wit:bigpic

RobbyG
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 25, 2010
RobbyG
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 25, 2010
RobbyG
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Re: Gulf of Mexico Oil Spill - 'Berrin Special' May 26, 2010
What if the same thing happened in the Arabian Gulf or Persian Gulf ? What a MESS ! It would be contained by the Gulf of Hormuz and would make a DISASTER of the Palms , The World and everything else if a slick moved in close .
Of course, the shallowness of the water would make it easier to contain, but it must be pretty deep in parts of the Arabian Gulf. Do they drill in those parts?
RedKite
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 26, 2010
Chuck norris CAN roundhouse kick the oil back into the well and plug it.
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 26, 2010
^^^ Comes from a man who loves his Carbon Footprint!

This oil spill is walhalla for 'environmentalists' like you mate. I hope Chuck kicks you into that riser, head down in the oil/gas stream. ;)
RobbyG
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 26, 2010
Bahh all I see is good oil that could be used to power awesome cars being wasted ! :D

-- Wed May 26, 2010 3:39 pm --

P.S : Chuck and me are good buddies 8)
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 26, 2010
Glad you confirmed it. Butt-buddies. :D
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 27, 2010
Update Oil Spill GOM: http://www.youtube.com/watch?v=Z7MD9ldx ... r_embedded

Chemical dispersants are being sprayed over the Gulf of Mexico in an effort to break-down the oil into smaller particles. The oil now poses a threat to underwater marine life.
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 28, 2010
Update: More fractures with potential outflow of 120.000 barrels a day?

http://www.youtube.com/watch?v=cDGAoU1H ... r_embedded
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 29, 2010
It's a big disaster but with all my love to everything Britain I must admit that BP has applied all forces to stop the leak and spent already more than 1 billion dollars.

There is another story on the West Cost of Africa.

http://img.lenta.ru/articles/2010/05/20 ... icture.jpg

Nigeria has spilled equal to that Exxon Valdez about every year.
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 29, 2010
WTF, since when do you promote 'everything Britain'?

Did you dive in bed with lady Elizabeth all of a sudden, hm? You and your dirty pecker couldn't leave the old tar alone in her palace ... :D

BP will be under massive scrutiny when it is investigated and the courts will decide whether BP can cover its obligations due to the economic and environmental damage. If not, bye bye BP. End of story for them.

Let Shell take over the business. Dutch Excellence anyone? :lol:
RobbyG
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 29, 2010
RobbyG wrote: Let Shell take over the business. Dutch Excellence anyone? :lol:


I'm glad that my kick between somebodie's legs hit the goal :lol: but you did not reply for the question. On the other hand who cares about oil spills off the west cost of Africa when we do have the big trouble just in front of the gates.
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 29, 2010
Exactly, if there is a problem, the Nigerian government should address it. After all, they represent their people and their environment...you hope ;)

Too bad they kneel down for bribes. Human folly once more.
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 30, 2010
RobbyG wrote:Exactly, if there is a problem, the Nigerian government should address it. After all, they represent their people...you hope ;)


Ja Ja Naturlich, like Russia addressed about Sakhalin 5 years ago. That Dutch company was a little bit upset that Russia is not Nigeria. :wink:
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 30, 2010
What do you expect. We had a great deal with Gorbatsjov. Putin wanted a better deal when the oil was close to flowing. KGB bastard. lol ;)

It was a near rip-off. But we were forced to agree with strategic concessions for a gashub in Europe with supply from Russia. :D

All good. Dutch gov happy, Russia gov happy and Shell happy. ;)
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' May 30, 2010
Government involvement makes these environmental disasters possible due to risk analysis. Read below:

Image

I never ever thought I would agree with Nancy Pelosi on anything, yet here it is:

U.S. House Speaker Nancy Pelosi said Congress should consider eliminating any cap on the damages a company such as BP Plc might have to pay for harm caused by oil spills.

“There is a movement afoot in Congress for that. Why have a cap?” Pelosi said in an interview on Bloomberg Television’s “Political Capital with Al Hunt” to air this weekend.

Pelosi had previously voiced support for a proposal under consideration to raise the existing $75 million cap to $10 billion for economic damages caused by each environmental disaster. After being thwarted March 13 in the Senate, backers of that legislation have vowed to renew efforts to win passage.

“You would hope that there would not be more than $10 billion of damage, but understand it is for each episode,” she said. Asked about eliminating the cap altogether, Pelosi said: “I think it’s worthy of looking at.”


I’m not against Big Oil, Little Oil, or anyone in the Oil Patch, but the liability cap is just another example of how industry uses the government to gain market advantages at the expense of someone else. In this case it is the Gulf Coast inhabitants and those that live off of that huge resource.

As I understand the law, BP is responsible to pay 100% of the cost of the clean-up. What the liability cap does is to cap economic damages to $75 million. What that means is if anyone suffers a loss of income or property as a result of a spill, BP is only obligated to pay $75 million even though the losses may be in the billions. That is not right.


Businesses seeking advantages from legislators is not news. While lobbying is often a proper and necessary response of business to legislation that would be harmful to them, it is a two-edged sword when they try to gain economic or competitive advantage. Our history is full of examples, most recently, tire import tariffs. While it is right to condemn business for this we should blame legislators who have the primary duty to act in the best interests of all the people. At least one could say that we understand that business is motivated by self-interest, but Congress is held to a higher ideal. While politicians preach this principle they rarely live up to it.

In free market capitalism, no one has a legal or a coercive advantage over anyone else. If I commit a civil wrong, in this case the tort of property damage and the resulting economic loss, I should be fully liable for it. That is, I should pay the cost. If I go broke, so be it. If I do something with willful, wanton disregard for safety I may be grossly negligent which may allow a court to impose punitive damages.

In my view, the liability cap was a major cause of this environmental disaster.

Assume for a minute that there was no liability cap in place. BP was engaged in very risky drilling activity that posed potentially huge losses if they acted negligently. Drilling at 5,000′, I am informed, is not like drilling at 500′. Like all businesses, BP must weigh the potential risks against the potential gain of any enterprise. Like most businesses, they lay off as much risk as they can by buying insurance. If they didn’t buy insurance then they weighed the risk against their assets and net worth.

I am going to guess here that the economic loss of the BP spill will be far more than the cost of the clean-up. I assume that is always the case or otherwise oil companies would not have sought a liability cap. When they evaluate the risk of such risky activity, then they know that whatever damage they cause, their liability will not exceed $75 million. That is a drop in the bucket for a company whose after-tax earnings were $6.1 billion in Q1.

Thus I believe that liability is a significant deterrent to companies involved in risky activities. Their response to such liability could be:

1. Determination to not undertake a risky project because of the potential liability.

This happens all the time in industry. Projects such as chemical plants, nuclear research, nuclear energy, may be too risky in light of the potential reward. It may be beyond the company’s ability to respond in damages, thus risking the company’s future. It may be impossible or prohibitively expensive to get insurance.

2. Determination to engage in the project but with added safety protocols.

This is certainly possible with a large company such as BP. They may evaluate the risk and decide they can safely undertake the project. Obviously this was BP’s choice here. But they were negligent and they should pay all damages they cause. If they go broke, they understood the risks going in.

3. Determination to engage in the project but with additional insurance to cover potential losses.

If the project is undertaken because it is risky but determined to be within their ability to manage the risk but not to withstand damages, they could obtain insurance. If the insurance company determined that the risk was too high and refused coverage, the company would most likely decide to not undertake the project.

Insurance companies have a lot at stake because they bear much of the risk involved in such projects. They exercise great care by investigating their underwriting risk and require companies to satisfy many conditions related to safety. The breach of any policy safety condition may invalidate the insurance. Thus there are market forces that try to eliminate risky projects.

4. Determine to engage in the project but with no insurance or other risk-related safety protocols.

This would be foolish business behavior by any company. Assume rational players in the industry, the project would not be undertaken. Most oil companies have risk-reward protocols to minimize risk because, as public companies, no one would invest in them since risky projects would jeopardize investors’ capital much less the future of their company.

I think it will be shown that BP was not only negligent, but perhaps grossly negligent and there is no way to punish them for their behavior. I understand that they may voluntarily agree to compensate people with economic losses. To not do so would effectively end any future drilling in U.S. waters or perhaps worldwide. But that was not a deterrent preventing them from entering into such projects.

Let the lawyers have at them.


http://dailycapitalist.com/2010/05/28/o ... #more-4841
RobbyG
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Re: Gulf of Mexico Oil Spill - 'Berrin Special' Jun 02, 2010
Is it possible, when they design future well-heads deep underwater that they can include some sort of side safety-valve to the well-head which they can tap into in an emergency like this?

Is there too much pressure to put some sort of extra valve linked into the well-head , when it is set up ?

I suppose the engineers must have thought of this problem already ? However, now that a MOST OBVIOUS problem has occurred , BP have no answer.It is decimating their shares and laying them open to a predator.

Why could they not have prepared for this scenario ?
RedKite
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Re: Gulf of Mexico Oil Spill - 'Berrin Special' Jun 02, 2010
RedKite wrote:Is it possible, when they design future well-heads deep underwater that they can include some sort of side safety-valve to the well-head which they can tap into in an emergency like this?

Is there too much pressure to put some sort of extra valve linked into the well-head , when it is set up ?

I suppose the engineers must have thought of this problem already ? However, now that a MOST OBVIOUS problem has occurred , BP have no answer.It is decimating their shares and laying them open to a predator.

Why could they not have prepared for this scenario ?


Who really knows what they had prepared for, they don't seem to be letting out much real information. I can also imagine that the depth of the well head is what is the major factor.
sage & onion
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Re: Gulf Of Mexico Oil Spill - 'Berrin Special' Jun 02, 2010
They should put a cap on each state, not incident, seeing how this spill could spread over several states. BP is screwed, but the damage that has been done by the spill, which will continue, is horrible. It's anticipated that with the oncoming Atlantic storm season the spill could travel as far as Cuba.
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Re: Gulf of Mexico Oil Spill - 'Berrin Special' Jun 02, 2010
RedKite wrote:Is it possible, when they design future well-heads deep underwater that they can include some sort of side safety-valve to the well-head which they can tap into in an emergency like this?

Is there too much pressure to put some sort of extra valve linked into the well-head , when it is set up ?

I suppose the engineers must have thought of this problem already ? However, now that a MOST OBVIOUS problem has occurred , BP have no answer.It is decimating their shares and laying them open to a predator.

Why could they not have prepared for this scenario ?


They didn't prepare for oil disasters because the government limits their liability costs. This is an excellent example of how risk analysis limits efforts to contain oil disasters.

Watch for yourself. Nothing has been invested in failure prevention since the last major oil disaster in the GOM, 1979: http://www.youtube.com/watch?v=GHmhxpQE ... -j062DLfN4

Almost funny to see the similarities, in reality it isn't...
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