Gulf Gusher Could Be Major Black Swan (2 Viewers)

Enron

Tickle Me
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Oct 11, 2005
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#25
Government Agencies Forced to Step in to get Answers:

Tax Payers Once Again to Foot Bill for Corporate Missteps


http://www.huffingtonpost.com/brendan-demelle/breaking-federal-flow-rat_b_583902.html

“The team will work to obtain data that is available on the reservoir, wellbore, blowout preventer, subsea flowing pressures, leak points, discharge plumes and surface discharge observations. With this information, the team will identify and run state-of-the-art models to calculate flow rates and compare results.”
 

Enron

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Oct 11, 2005
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#26
EPA tells BP to use less toxic chemicals to break up oil spill

By Juliet Eilperin

Washington Post Staff Writer

Thursday, May 20, 2010; 10:13 AM

The Environmental Protection Agency informed BP officials late Wednesday that the company has 24 hours to choose a less toxic form of chemical dispersants to break up its oil spill in the Gulf of Mexico, according to government sources familiar with the decision, and must apply the new form of dispersants within 72 hours of submitting the list of alternatives.

The move is significant, because it suggests federal officials are now concerned that the unprecedented use of chemical dispersants could pose a significant threat to the Gulf of Mexico's marine life. BP has been using two forms of dispersants, Corexit 9500A and Corexit 9527A, and so far has applied 600,000 gallons on the surface and 55,000 underwater.

"Dispersants have never been used in this volume before," said an administration official spoke on condition of anonymity because the decision hasn't been formally announced. "This is a large amount of dispersants being used, larger amounts than have ever been used, on a pipe that continues to leak oil and that BP is still trying to cap."

The new policy applies to both surface and undersea application, according to sources, and comes as the EPA has just posted BP's own results from monitoring the effect that underwater application of chemical dispersants has had in terms of toxicity, dissolved oxygen and effectiveness.

The EPA declined to comment on the matter.

After BP conducted three rounds of testing, federal officials approved the use of underwater dispersants late last week, but environmentalists and some lawmakers have questioned the potential dangers of such a strategy.

On Monday, Rep. Edward J. Markey (D-Mass.) sent a letter to EPA administrator Lisa P. Jackson questioning the approach, given that Britain banned more than a decade ago some formulations of the dispersant, Corexit, that is now being used.

In the letter, Markey warned, "The release of hundreds of thousands of gallons of chemicals into the Gulf of Mexico could be an unprecedented, large and aggressive experiment on our oceans, and requires careful oversight by the Environmental Protection Agency (EPA) and other appropriate federal agencies."
 
OP
Bjerknes

Bjerknes

"Top Economist"
Mar 16, 2004
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  • Thread Starter #27
    Just wait until a cat 3 hurricane slams into that gusher. :eyebrows:

    The storm surge will take the spill cleanly inland.

    Absolute disaster.
     
    OP
    Bjerknes

    Bjerknes

    "Top Economist"
    Mar 16, 2004
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  • Thread Starter #30
    If so, then all the Oxygen in the Gulf will be consumed by the bacteria that eats up the oil. And if that happens then the entire Gulf will be destroyed, leaving all the sea life dead.

    It would also leave the coasts uninhabitable and destroy all the local economies, probably over 10% of our GDP worth.
     

    Enron

    Tickle Me
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    Oct 11, 2005
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    #31
    This is all the more reason to let the natural resources industries continue self regulation.

    US Government: Hey dude is that one of a kind oil rig you guys are parking in our back yard gonna be safe?

    BP: You bet. We've looked into safety and guarantee there will be no worry about a spil.

    Whoops.:seven:
     

    Enron

    Tickle Me
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    Oct 11, 2005
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    #32
    If so, then all the Oxygen in the Gulf will be consumed by the bacteria that eats up the oil. And if that happens then the entire Gulf will be destroyed, leaving all the sea life dead.

    It would also leave the coasts uninhabitable and destroy all the local economies, probably over 10% of our GDP worth.
    Louisiana shrimp industry is a 9 billion dollar a year industry. Fishing along the Gulf Coast is a giant industry in itself, though I am unsure of the total numbers off the top of my head.

    The Gulf economy will be destroyed if this causes a complete dead zone. Much of the area in the Gulf around the mouth of the Mississippi experiences intermitant deadzones due to farm run off.

    Hopefully the clean up bankrupts the bastards.
     
    OP
    Bjerknes

    Bjerknes

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    Mar 16, 2004
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  • Thread Starter #33
    Since something like this has never really happened before, it is a major Black Swan event. No pun intended.

    If what Simmons says is true and the Gulf will be destroyed, BP will be a massive short all the way down to zero. So don't worry about them. They are fucked.
     

    Enron

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    Oct 11, 2005
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    #37
    I read an article last night that was an interview with BP's CEO, he said BP is too big of a company and too important for the US to take over.
     

    Enron

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    Oct 11, 2005
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    #38
    Gulf Oil Spill:
    Frustration Mounts As Congress Can't Even Get BP's Liability Cap Raised


    Sam Stein - huffingtonpost.com
    05-25-10 10:25 AM

    It's been more than three weeks since Sen. Robert Menendez (D-N.J.) unveiled a proposal to raise the liability cap to $10 billion for oil companies involved in economically damaging offshore spills. And despite two efforts to pass the legislation through the Senate, the backing of the president and an ever-dire crisis in the Gulf of Mexico, there currently exists no clear path forward for getting the idea into law.

    Under normal circumstances, the inaction would be chalked up to the normal lethargy of the Senate chamber. Three weeks, after all, is a relative blip in a legislative calendar that often sees bills and nominations debated well beyond that. But disasters -- such as the expanding oil spill in the Gulf -- usually spur quick, populist-stoked legislative action. The mere fact that Congress has been unable to accomplish something as politically obvious as asking companies like BP to pay more for the spills they create has some on the Hill shaking their heads.

    "Beyond anything else," said one Senate Democratic aide, "it's frustrating."

    The failure to pass Menendez's proposal has become symbolic, in no small way, of what Democratic strategist James Carville described as a "lackadaisical" response to the crisis as a whole. As with the government's efforts to stop the flow of leaking oil, top Senate Democratic aides insist that they are utilizing all the available tools to get the liability cap raise into law. So far, two unanimous consent agreements to pass the bill have failed after a single Republican senator expressed objections -- worried, they say, that the higher liability would make it prohibitively expensive for smaller oil companies to drill in the Gulf.

    Democrats in the Senate have pledged to keep pushing for votes. But, as one top aide, noted, with leadership planning to consider a war supplemental bill, a tax extenders bill, judicial nominees and so on, time is getting tight. Senator Menendez is set to brief reporters on the matter Tuesday afternoon. And it would not come as a surprise if, in addition to bashing GOP opposition, he unveils a plan to introduce his bill as an amendment to a larger piece of legislation.

    "We are looking at the possibility of getting it attached as an amendment to an upcoming bill but that hasn't been fully decided yet," said a Menendez aide.

    The senator is certainly hoping for some additional help from the administration regardless of the legislative route. To this point, the president has expressed general agreement with the Menendez approach -- though, unlike the senator, he has refused to specify a number at which he wants the cap set. Last week, after Republicans stopped the second effort to get the cap raised via unanimous consent, Obama put out a statement condemning the party's heel-dragging.

    Beyond that, White House officials have been in discussions with members of the Senate to help chart ways to get legislation through the chamber. And while a major lobbying campaign has yet to be generated, the administration is starting to make a bit more noise.

    "We have been working with Congress," said Carol Browner, Director of the White House Office of Energy and Climate Change Policy. "And we will actually have three administration officials testifying [Tuesday] before the Senate Energy and Natural Resource Committee."

    Those officials are Thomas Perrelli, Associate Attorney General at the Department of Justice, Craig Bennett, director of the National Pollution Funds Center for the Coast Guard and David Hayes, Deputy Secretary at the Department of Interior.
     
    OP
    Bjerknes

    Bjerknes

    "Top Economist"
    Mar 16, 2004
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  • Thread Starter #39
    So the top kill was started, stopped, and started again.

    I don't think this thing is going to work. Too deep, too much pressure. Odds of it working are low.

    But I'd also be worried with the calls for the government to manage this problem. The folks in Washington know fuck all about rigs.
     
    OP
    Bjerknes

    Bjerknes

    "Top Economist"
    Mar 16, 2004
    116,254
  • Thread Starter
  • Thread Starter #40
    Something happened at about 9pm Eastern tonight, looked like the BOP blew a massive hole. Now we have even more flow coming out of the gusher, but it still might be mud. This might be part of the Top Kill process, or the Top Kill might have been killed, for lack of a better word.

    This shit DOES NOT look good.
     

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