OT: Oil spill size

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Neat site that uses Google earth to superimpose the oil spill over wherever in the world you want.
Be sure to zoom out- http://paulrademacher.com/oilspill/#London
At first it doesn't look too bad as the original site is rather small compared to the slick that is now hitting FL, LA & AL beaches.
When I did it locally I thought at first it was the size of a few counties in NY-- then I zoomed out and saw it was really about the size of Vermont-
Jim
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Jim Elbrecht wrote:

Hmm, That only from the surface. What about what's going on under the surface surface? Result of shoddy drilling regulations. They did not have back up plan(like pre-drilling relief well for stand-by.
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Not to worry. BP has our best interests at heart.
http://www.nytimes.com/2010/06/09/us/09spill.html?hp
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wrote:

Bear in mind the relief well could blow out too. If you drill 2 wells you have twice the opportunity for an accident.
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On Jun 10, 12:05 pm, snipped-for-privacy@aol.com wrote:

Exactly. I don't see how drilling a relief well is any less risky than drilling any other well. Plus, many companies have been drilling at sea for decades, thousands of wells, and none of them has ever drilled any such relief well first either.
Which is not to say that we aren't going to find out that there were serious errors made or shortcuts taken on this well. But I don't think not drilling a relief well first will be on the list.
Anyone taking bets on how long it will be before BP files bankruptcy? I'd say there is a high probability of them doing so within months. If you add up all the liabilities to claims from govts, businesses and citizens, it's more than any company could pay. There was one deck hand on the news last night. She hasn't been working and would have made $7K during the period. BP has so far paid her $2500. And how long do they have to pay her and others? 6 months? a year? They will likely have to buy all the fishing industry in the area too. And on it goes....
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snipped-for-privacy@optonline.net wrote: ...

I'd say not any time real soon...you looked at their financials???
All amounts in millions except per share amounts.             12/2009    12/2008    12/2007     12/2006 Operating Revenue     239,272 361,143 284,365 265,906 Total Revenue         246,138 365,700 288,951 270,602 ... Gross Operating Profit      47,430 57,570 52,915 50,764 ... Operating Profit before Depreciation (EBITDA)               33,392 42,158 37,544 36,317 ... Operating Income After Depreciation      21,286 31,173 26,965 27,189 Other Income, Net      7,281 906 -7 1,136 ... Income Before Tax (EBT) 25,124 34,283 31,611 35,142 Income Taxes      8,365 12,617 10,442 12,516 ... Net Income from Continuing Operations      16,578 21,157 20,845 22,340
That's _averaging_ right at $20B net _AFTER_ taxes the last four years; all expenses incurred will be fully deductible. I don't seem them running out of money as being a problem. Not as profitable for a while; sure, bankrupt? I don't think so...
--
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dpb wrote:

they'll probably get bought by some competitor because their valuation will be a lot less.
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chaniarts wrote: ...

I don't know about how probable, but far more likely than bankruptcy, yes. I've not looked at market valuation recently to see just how badly they've been hurt. I'd think it's not too far off a "buy" opportunity, though if one were thinking of a play...
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The current worry about BP "on the street" seems to be that they may have to stop the dividend. I still see a modest possibility of a bankruptcy for protective reasons. Think asbestosis.
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dpb wrote:

about $80b down recently.
http://royaldutchshellplc.com/2010/06 /
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Yeah, good point. I had not looked at the actual numbers. And EBITDA is close to twice that. So, even if the spill costs $100bil, it's still on the order of a few years profit, which would be survivable. On the other hand, at this point, it's clear no one knows how much all the claims against them will total.
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I don't get it. WHen I was growing up my uncle was the chief service engineer for a firm whose product was designed in ENgland, saw I grew up in awe of Brit engineering.
What is wrong with BP? Texas City explosion. TNK-BP in Russia. Many other issues. I heard they do everything by committee. Also their "beyond petroleum" strategy made them take their best people and efforts out of the oil biz. Dunno. I guess they deserve to be merged. Shell i smentioned as the likeliest buyer.
Texas City is supposedly the largest refinery in the USA.
Meanwhile, the minute Obama supports deep drilling, they make him look bad. And we're in trouble if this does to oil what TMI did to nukes.
                 - = - Vasos Panagiotopoulos, Columbia'81+, Reagan, Mozart, Pindus, BioStrategist http://www.panix.com/~vjp2/vasos.htm http://www.facebook.com/vasjpan2 ---{Nothing herein constitutes advice. Everything fully disclaimed.}--- [Homeland Security means private firearms not lazy obstructive guards] [Urb sprawl confounds terror] [Phooey on GUI: Windows for subprime Bimbos]
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snipped-for-privacy@at.BioStrategist.dot.dot.com wrote in
Texas City is supposedly the largest refinery in the USA.

It sure gives Comrade Obama the excuse to ban offshore drilling. It permits Saul Alinsky's "never waste a good crisis" rule.
BTW,look what Comrade Obama did WRT nukes;he says he "supports" nuclear power,but not without "safe storage",then immediately cancels Yucca Mountain Repository,then institutes a new study/search for a new site,that will take at least 10 years (how convenient..Comrade will be long gone by then) and WASTES the millions of dollars already spent on an almost completed Yucca Mtn. Thus,Comrade Obama has effective killed new nuclear power for a couple of decades. That's some "support"... Comrade Obama has said he wants gas prices to rise to $10 a gallon,but "just not so fast",and he's said he wants "to bankrupt the coal industry". Cap and Trade/EPA carbon control is the mechanism for that. Coal supplies ~50% of US electric,nuclear is next as ~20%. There's no way solar and wind would make up the difference,and that doesn't allow for new capacity needed for the plug-in electric cars.
See a pattern here?
The end result is a drastic rise in energy prices,which will have a cascading NEGATIVE effect on our economy. That in turn weakens our nation,and then Comrade Obama is weakening our military. It also means a sharp reduction in peoples standard of living.
then remember that Comrade Obama spent TWENTY YEARS in the Very Racist Rev.Wright's America-hating church,and that Comrade Obama was raised by and mentored by marxists,all his friends and associates are marxists.
Read what Comrade Obama has said or written,examine his actions in that light,then connect the dots....
--
Jim Yanik
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Jim Yanik wrote:
(rant snipped)

I'm no fan of Saint Obama, but I don't think he is evil, just naive. (I do note reports that some of the true believers are starting to fall away, now that the honeymoon is well over.)
But on his own, POTUS can't really do squat. It takes 535 fools on the hill to either bend over, or at least stay out of the way. I blame them as much or more than the guy in the White House. If Congress wanted Yucca Mountain restarted, all they gotta do is insert a 'shall' in the appropriations bill. But it is one of those things that is easy to postpone, so as to not have to deal with the NIMBY crowd. It'll be a few years till all the pools and casks at the active plants are completely full.
I wish one of the Gulf governors would tell him to get back on his damn plane and go back to DC- they have work to do, and his campaigning for a job he already has, is tying up resources needed elsewhere.
--
aem sends...

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wrote in

It sounds like YOU are naive. After knowing what Comrade Obama has written in his OWN books,and comments he's made in public(particularly about the Constitution),and the Marxist people he's selected for "czars",how can you possibly think that he's naive? He's been talking about his commie moves and goals for a LONG time. The guy is a product of Chicago politics,and friends with terrorist bombers(unrepentant bombers),and chooses to be around "radicals and Marxists,as he wrote in one of his books.He KNOWS what he is doing. He's only naive if he thinks that it will make things better for Americans. There's a good possibility that Comrade Obama actually does hate America,after all,he spent TWENTY YEARS listneing to that racist Rev.Wright spew hatred for America,besides all the Marxist upbringing he's had.
you must have been living in Antartica,or don't read or listen to TV news,or are willfully blind.

Wrong. It only takes a MAJORITY to enact legislation.That is either 50%plus one or a supermajority,depending on how the legislation is introduced. You must not have paid attention in history/civics class.
and UNFORTUNATELY,we seem to have elected enough leftist and bribable "representatives" to pass Comrade Obama's commie crap.
I will give you the out that the "old" media failed in their responsibility to the public to fully investigate and report completely on a Presidential Candidate. If they had investigated and faithfully reported on Comrade Obama as deeply as they did VICE-Presidential Candidate Sarah Palin -and her family-,Comrade Obama would never have been elected.

Yes,you ARE naive. Storage pools and casks are prime targets for terrorists,EASY to get at.

He's not "campaigning",he's trying to get his Marxist agenda enacted,or at least advance it enough to where it's not reversable.
--
Jim Yanik
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On 6/11/2010 5:15 PM Jim Yanik spake thus:

>>>

Or maybe--just maybe--he's not a nutcase teabagger, as you appear to be.
"Comrade" Obama. GMAFB.
--
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with the flaunting of well-defined muscle, wrapped in flags.
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wrote in

I enjoy seeing the way some people use various means to focus on the word "czar". Who began using the term to describe our own government employees? If I recall, it was Reagan, but I could be wrong about that.
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Actually In the United States, the term czar has been used by the media to refer to appointed executive branch officials since at least 1930s and then the 1940s under President Franklin D. Roosevelt. In 1942, The Washington Post reported on the "executive orders creating new czars to control various aspects of our wartime economy." Positions were created for a transportation czar, a manpower czar, a production czar, a shipping czar, and a synthetic rubber czar, all to solve difficult problems in coordinating the resources necessary to fight World War II. In the spirit of bipartisanship, at about the same time, the GOP in Congress was calling for a food czar.
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and name it after the IRS.
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wrote:

Thank you. Lately, it's seemed that low-functioning organisms have been using the word a lot because they've also been told to say "socialist", and the two things sorta fit together.
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And there is a long line of Supreme Court cases saying that the President has to spend the money (starting when Nixon tried to sequester money in the 70s).
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and name it after the IRS.
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