OT Get ready the economy is about to tank:(

Seriously. You haven't killfiled all of the above idiots yet? Really?

What, and miss all the amusement!!!

Reply to
RBM
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.. Following excerpted from document written by former engineer on sister platform and sent by an acquaintance who works in oilpatch around here...

"... all of the main pressure control equipment sits on the seabed ? the uppermost unmoving point in the well. This pressure control equipment ? the Blowout Preventers, or ?BOP?s? as they?re called, are controlled with redundant systems from the rig. In the event of a serious emergency, there are multiple Panic Buttons to hit, and even fail-safe Deadman systems that should be automatically engaged when something of this proportion breaks out. None of them were aparently activated, suggesting that the blowout was especially swift to escalate at the surface."

--

Reply to
dpb

It is said the BOP was tested 10 days prior to the incident. Another suggestion was the BOP somehow warped during/after (?) the collapse and was not able to function as intended.

..."BP America Inc. Chairman Lamar McKay, appearing on ABC's "This Week" program, said fail-safe mechanisms on the rig that were designed to prevent an oil spill had not worked as predicted and that a "failed piece of equipment" was to blame for the spill, according to the New York Times and other media outlets.

BP spokesman Bill Salvin said McKay was talking about the blowout preventer as the failed equipment that caused the April 20 explosion of the Deepwater Horizon rig, which killed 11 people. ..."

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Reply to
Oren

Have you read their balance sheet? Do you know what their cash reserves are? Do you know their non-cash assets and how much can be liquidated? Do you know their borrowing capacity?

Do you know how much insurance coverage they have? Do you know their contracts with the rig operator and how liability is assigned? Do you know how much insurance the rig operator has? Do you know their contracts with the equipment providers (like the blow out preventor) and how liability is assigned?

Until you do, you are spewing ignorance. One thing you can be sure of, a bunch of lawyers are going to get rich(er).

-- Doug

Reply to
Douglas Johnson

BP has a bad history of cost cutting and poor maintence which led to a refinery fire that killed a bunch of workers and a alaska pipeline leak, which led to a rebuild of the pipeline it was in poor shape.

Based on historical evidence BP cut corners to save money and have more profit

Reply to
hallerb

eserves are? Do

heir contracts

the equipment

re of, a bunch

wipe out fishing and tourism in the gulf of mexico from mexico to florida, then around the keys and up the coast carried by the gulf stream.

then try to clean this all up. mark my words it will bankrupt the company.

just like a nuke plant accident in us, that releases a lot of radiation and making a big part of the us not habitable....

will bankrupt whatever power company owns the plant. and do note your homeownewrs insurance has no coverage for nuke accidents or acts of war

Reply to
hallerb

They have insurance with AIG :o)

Reply to
norminn

"Pride goeth beore a great fall"

Proverbs 16:18

Reply to
Charlie

Given these fatalistic views, oil may travel to Europe. You do know the Gulf Stream bifurcates with a current flow towards Europe.

Maybe we can float some oil (sweet crude) to Cuba?

Reply to
Oren

Putz. PLONK!

Reply to
h

Like I said, we're Americans, we'll pick ourselves up

Reply to
RBM

.

at what costs, have you noticed our country is near bankrupt as is.

we dont need another drag on the economy

Reply to
hallerb

That's just what I did on April 30th...I sold every share of BP in my portfolio.

Jeff

Reply to
jeff_wisnia

Yes. Our President has spent more money, going into the future than ALL previous presidents. Have you noticed?!

Defeat Barney Frank!! The Three Stooges: Nancy, Harry and Barry.

You did vote for Obama, right?

I will trade my ObamaCare for Park Place.

-- If you like ObamCare, you can have mine!

Reply to
Oren

The ROVs are there but the BOP can't be activated. The BOP is broke.

Reply to
krw

I've been to the Alabama beaches too. Three weeks ago for SWMBO's birthday, AAMOF. Orange Beach and Dauphin Island are some of the most beautiful beaches around. From the maps they look like they're directly in the firing line.

Me too (Alabama). ;-)

Reply to
krw

Unemployment at about 20% is far worse than the spill. Will be interesting to see how effective the government will be with the clean up (or they might just try to blame BP and sit back).

Reply to
Phisherman

Bankrupt! Your high again I see, They have future guarnteed income, its called oil if you havnt heard, there is insurance and this may end relatively soon, but you go ahead and short sale BP, mortage the house too for your big trade.

Reply to
ransley

Is there an echo here?...

"Now it's got the damage..."

I've seen now definitive reports on accessibility, etc., of the wellhead via the ROVs; only that they haven't had success on closing it so not sure what the actual state is.

I've seen pictures close-by pictures of the platform over the time from a few hours after the blowout to the collapse; nothing from under the water.

--

Reply to
dpb

-snip-

I wish my crystal ball worked as good as yours. I can't see into the future much at all. But looking at the past & present what you say is all wet.

So far I've heard Gov. Jindal, Janet Napoitano, the Sec. of the Interior, Pres. Obama, the Gen. [Adm?] in charge of the Coast guard, the guy on the ground with BP & this morning the CEO of BP, *all* saying that they are working together and will get it done.

This morning the CEO of BP said in no uncertain terms-- 'we are responsible. . . we will clean it up'. He reiterated that the state and federal government was helping- but that the responsibility for cleanup and recovery of the folks involved was BPs.

The interviewer [Stephanopolous] didn't seem to be grasping the concept that the CEO was saying 'We are not to blame for the spill'- our contractor is. But 'we are responsible'.

I get that. You can delegate the authority- but you can't delegate the responsibility.

When Stephanopolous said- 'It might take 10s of billions of dollars to completely clean this mess up, the CEO didn't blink- 'We're a big company, we can handle it.' Yeah, I guess. they made 14billion in

2009 & 25billion in 2008. They are doing ok.

I might be buying some BP stock once all the weenies bail. [I wonder how many of them bought it at $35 in 2009- and are getting nervous when it goes back below $55?]

Jim

Reply to
Jim Elbrecht

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