Spoke Thursday 22 with Russell Gold, WSJ, re the blow-out, explosion, fire and sinking of the BP-rented Transocean super-rig Deepwater Horiizon fifty miles off the Louisiana coast. Eleven are missing and presumed dead and even unrecoverable, but the news is that the rig sank in 5,000 feet of water and the well now leaks oil into the Gulf at 31 barrels an hour. The challenge is to cap the well and to clean up the spill. The bigger trouble is that this was a state-of-the-art deepwater rig. There is yet to be an explanation for the blow-out that defeated all the safety systems. The Big Energy plans in the century all look to deepwater drilling and platforms in the Gulf, off South America and Africa. Unanswered questions. Big Energy leaps into doubt.
Brief
Deepwater Doubts
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Welcome to another 'crisis' for the Obama administration to exploit. Of course, we will never know the cause of the explosion, just as we will never learn the true identity of the perverts who have been successfully recruited to infiltrate the Catholic Church for the sole purpose of bringing it down.
JB, No such thing as a Coincidence? Why do these events always occur in the weeks leading up to Memorial Day weekend? Didn't a refinery blow up this time last year?
Theoretical Economics of supply and demand state that even a small interruption in supply will lead to a large jump in the price of a commodity.
Horribly convenient the drilling platform sank into the ocean.
Who gains from this type of accident?
*Royal Families and dictaors in the Middle East
*Oil traders on the CBOT NYMEX
*Evil drilling servicing companies in Houston.
Bold Prediction: In April or May 2011 Large Refinery or Pipeline explosion.
This is a political action, done in response to Obama's calls for more offshore drilling, and timed to coincide with Earth Day, which was yesterday. It seems almost too obvious that it was environmental activists who sabotaged the platform. So obvious that if I were an environmental activist contemplating this, I would opt against it with the certainty that I would eventually be brought to justice.
Obvious? Yes. But the truth will never come out publicly. Today we endure 'news' by omission. Who still remembers that South Korean boat that was torpedoed by the North Koreans (at the behest of China, no doubt)? Try this one to replace 'all the news that's fit to print' on The New York Times masthead: 'out of sight, out of mind'.
You think they're that good at covering things up? If they are, how do you explain the leak of all the CRU (East Anglia) e-mails? That's probably a bigger-ticket item financially than even the oil rig, when you look at all the megabucks idiots like Al Gore have invested in Global something or other.
I like Mad Magazine's motto: "All the news that fits, we print." I still remember the South Korean boat. I'm sure that when they find out what caused the sinking there will be media attention. Americans love ferreting out a cover up. All will be revealed, don Pedro.