Gulf Coast Oil Spill

[Frequitude]

Fotze or others in the know. Where's a good online explanation of how the whole drilling process? i.e. what the mud does, what the drilling process is, etc...

[boogerz]

BP's hidden agenda is to make this the biggest oil spill...of all time

*insert a pic of Kanye West "of all time meme" here*

[CaptainCrunch]

Its time to drop a nuke down there, and melt the leak shut

[Azure]

I hope BP has to pay dearly for this.

[RougeUnderoos]

Originally Posted by boogerz

BP's hidden agenda is to make this the biggest oil spill...of all time

*insert a pic of Kanye West "of all time meme" here*

Whoever is in charge of keeping the agenda hidden should be fired.

[CaptainCrunch]

Originally Posted by Azure

I hope BP has to pay dearly for this.

I think that will depend on the resolve of the courts.

I was reading this morning that the fines for a spill like this range from a $1000.00 to $4000.00 per barrel.

I've heard that the leak is estimated up to 29.5 million barrels of oil, which means that the minimum fine would be $29.5 billion dollars. I have my doubts that this kind of fine would ever be enforceable, and the U.S. government will end up paying the lions share of the cleanup.

That fine doesn't include restitution for damages to individuals and businesses.

I would expect that this news will pummel BP when the market opens on Monday and they become a prime target for takeover.

I was reading that there is a cap on damages limited to 75 million plus cost of cleanup as well.

At some point BP if they continues for too much longer will negotiate a or else position with the U.S. government.

Or step aside and let the American government take it over.

[Wookie]

Originally Posted by CaptainCrunch

I would expect that this news will pummel BP when the market opens on Monday and they become a prime target for takeover.

Wow, that'd be a BALLSY move by a company. Not sure I'd vote as a shareholder to have a company I'm a part of take over BP.

Maybe liquidate the assets and those can be taken over.

[T@T]

Originally Posted by CaptainCrunch

I was reading this morning that the fines for a spill like this range from a $1000.00 to $4000.00 per barrel.

I've heard that the leak is estimated up to 29.5 million barrels of oil, which means that the minimum fine would be $29.5 billion dollars. I have my doubts that this kind of fine would ever be enforceable, and the U.S. government will end up paying the lions share of the cleanup.

I doubt it as well.

If that ever happened offshore drilling would cease to exist, theres huge risks drilling a mile under water.

[flamesfever]

Does anyone know the status of the relief well?

[Hack&Lube]

Originally Posted by algernon

I wouldn't by a liberal membership, if that's what you are getting at.

I think most people on this here forum are liberal-leaning (closer to libertarian, actually)
while, Myk is a redneck, with little tolerance.

I'd say we're mostly libertarians with economic conservatism

[CaptainCrunch]

Originally Posted by Wookie

Wow, that'd be a BALLSY move by a company. Not sure I'd vote as a shareholder to have a company I'm a part of take over BP.

Maybe liquidate the assets and those can be taken over.

Remember that BP has thousands of successful wells and properties around the globe. A take over with the intent of grabbing those properties would be an incentive for shareholders. Then you negotiate a cleanup fee with the government that will basically work out to cents on the dollar, with the threat of any cleanup money being tied up in court for decades.

[CaptainCrunch]

Originally Posted by flamesfever

Does anyone know the status of the relief well?

Weeks away. They decided to take cannibalize the first one for equipment to try to seal the well. They just started drilling a second relief well right away.

I would bet that this crisis stretches into Christmas.

[Jing]

Wasn't there talk from Obama that the 75 million dollar cap would not apply in this case?

[T@T]

Originally Posted by CaptainCrunch

Weeks away. They decided to take cannibalize the first one for equipment to try to seal the well. They just started drilling a second relief well right away.

I would bet that this crisis stretches into Christmas.

Hurrican season could be interesting, I think the prediction was well above average for this years storms, el nino isn't around to help push them out to sea.

Anyone care to guess if the oil in the gulf would make the water warmer or not? either way I can see a huge mess coming ashore.

[SebC]

Originally Posted by T@T

Hurrican season could be interesting, I think the prediction was well above average for this years storms, el nino isn't around to help push them out to sea.

Anyone care to guess if the oil in the gulf would make the water warmer or not? either way I can see a huge mess coming ashore.

Well burning oil on the surface would definitely make some heat. Water has huge heat capacity though.

[T@T]

Originally Posted by SebC

Well burning oil on the surface would definitely make some heat. Water has huge heat capacity though.

I'm just curious if a film of oil floating on top would help heat up the water or would it actually cool the water because to sun can't penetrate as well.

They say 2 degree's can be the difference for a hurricane to substain it's strength coming ashore.

[Bownesian]

Most of the satellite pictures show the oil slick areas as brightly reflective. This tells me that oil slick zones should be slightly cooler due to increased reflectivity.

[calumniate]

Shares took a 30% hit already apparently. I wouldn't doubt that figure becomes 50% by the end of next week. They are done in my opinion. But the sad thing is, it's likely just going to be a name change as some of the other large oil companies will buy out their assets.

[T@T]

Good read about how bad this might get.

As oil continues to surge into the Gulf of Mexico from the site of the Deepwater Horizon rig accident, experts warn that the Gulf's powerful Loop Current could whip millions of gallons of oil around Florida's peninsula and north to East Coast beaches.

If oil is swept up into the Loop Current—which moves at about 3.3 to 6.5 feet (1 to 2 meters) a second—"there's essentially no way to stop it," said Tony Sturges, professor emeritus in oceanography at Florida State University.
"Once [oil] gets into the loop current, you can bet the farm it will go around to the south" of the Florida Peninsula and into the Gulf Stream, which hugs Florida's eastern coast, he added.
"If you're at the top of a hotel in Miami Beach, you can see the Gulf Stream," Sturges said, and that means oil may easily wash ashore on the state's famous beaches.
In fact, oil in the Gulf Stream could affect coastal ecosystems along the eastern seaboard at least as far north as Cape Hatteras, North Carolina, said Mitchell Roffer of Roffer's Ocean Fishing Forecasting Service in West Melbourne, Florida

http://news.nationalgeographic.com/n...rrent-florida/

[Pinner]

In my opinion the oil won't affect water temps or hurricanes at all, (small thinking in my mind)
However the oil in a hurricane will fawk up alot of inlands it would have otherwise avoided.

Oh, and about the oil company, this will not cost them anymore than a traffic ticket would cost us.

BuyBuyBuy Big oil companies make money, it just doesn't matter what they do, they will make money or they will get a tax break or a bail out to make it...