Posts Tagged ‘dispersant’

BP’s Crude Oil May Be Radioactive

BP’s Crude Oil May Be Radioactive

Courtesy of Washington’s Blog

New Orleans attorney Stuart Smith knows something about radiation from oil drilling:

Smith is well known for his role as lead counsel in an oilfield radiation case that resulted in a verdict of $1.056 billion against ExxonMobil for contaminating land it leased from the Grefer family in Harvey, Louisiana –– and attempting to cover it up.

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The court stated that from June 1986 to March 1987, “Exxon officials intentionally withheld information,” and that the company “knew the [radioactive] scale posed a direct danger to the physical health of those workers.” Oilfield waste, or TERM, is primarily composed of radium, a highly radioactive chemical element. Exposure to radium is known to cause a variety of devastating illnesses, including cancer. Radium’s impact on the human body is particularly acute because it is similar chemically to calcium –– and as such is frequently absorbed into bones after entering the body.

But at least there’s no radiation being released from BP’s oil spill in the Gulf, right?

Well, as Smith wrote on August 4th:

This is directly from the EPA website discussing oil drilling activity:

“These processes may leave behind waste containing concentrations of naturally-occurring radioactive material (NORM) from the surrounding soils and rocks. Once exposed or concentrated by human activity, this naturally-occurring material becomes Technologically-Enhanced NORM or TENORM. Radioactive materials are not necessarily present in the soils at every well or drilling site. However in some areas of the country, such as the upper Midwest or Gulf Coast states, the soils are more like to contain radioactive material.”

“Radioactive wastes from oil and gas drilling take the form of produced water, drilling mud, sludge, slimes, or evaporation ponds and pits. It can also concentrate in the mineral scales that form in pipes (pipe scale), storage tanks, or other extraction equipment. Radionuclides in these wastes are primarily radium-226, radium-228, and radon gas. The radon is released to the atmosphere, while the produced water and mud containing radium are placed in ponds or pits for evaporation, re-use, or recovery.”

“The people most likely to be exposed to this source of radiation are workers at the site. They may inhale radon gas which is released during drilling and produced by the decay of radium, raising their risk of lung cancer. In addition, they are


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Oil Spew Update: Where’s The Doom?

Karl Denninger separates fact and fiction in the Gulf Oil Spill story. 

Oil Spew Update: Where’s The Doom?

RACCOON ISLAND, LA - JULY 15: Pelicans are seen atop a piece of a destroyed boat July 15, 2010 at Raccoon Island, Louisiana. Biologists say at least 300 pelicans have been smeared with oil on the island, which is the largest nesting area for seabirds on the coast of Louisiana. BP is testing a new oil cap, and is temporarily allowing oil to leak from a second pipe as part of preparations for closing the valves to see if the cap can withstand the pressure and stop the flow of oil into the gulf. (Photo by Mario Tama/Getty Images)

I was promised an earth-shattering ka-doom!

Well, not really.

And the spew is not, in fact, funny.

But what’s even less funny is the number of people who have come completely unhinged with their "imminent death of everything and everyone" nonsense.

Let’s go down the list of the some of the better ones:

Everyone who worked on the Exxon Valdez spill is dead (or alternatively, that across the entire population of those who worked on the Valdez spill, the average age of death is 51.)

Really? Can you source that? I’ve been trying. Yeah, I’ve found the claim – 10 seconds with Google finds it. It’s been repeated everywhere. CNN had an alleged "expert" on who made the 51 year life expectancy claim – "almost all who worked on the Exxon Valdez cleanup are now dead."

Can I find an actual documented source for the claim? Nope. And I’ve tried to find it. No luck.

The same interviewee claimed that the components of the dispersent, Corexit, were not disclosed.  This we know to be false; there are two formulations and we know what’s in them.  The nastiest component is called "Butyl Cellusolve", and is indeed a nasty chemical solvent.  The question is concentration; incidentally, you can buy cleaning solutions containing butyl cellusolve at Home Depot, among other places.  I don’t recommend drinking it.

All of these claims appear to be traceable to one so-called self-identified "expert."  If she has actual evidence, such as a roster of all the people who worked on the Exxon Valdez, their ages, and the disposition of their health (and death, as she alleges) then let’s have it.  This sort of extreme claim requires strict proof.  Period.

There is a second well that BP (and/or Diamond Offshore) is hiding that is the real leak that is five (or alternatively seven) miles away; this is a sideshow and they can’t plug either.  The pressures are off the charts, never encountered before.

Really?  Then how come they just did plug the well?  Off the charts?  About two weeks ago there was a pressure gauge on one of the downhole lines, and it read 7,000 psi.  The water at that depth exerts ~2,000 psi.  If this was an absolute gauge (probably true) then the in-bore relative pressure (relative to the sea floor) was…
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Zero Hedge

Rabobank: Is It Possible The Fed Is So Stupid It Doesn't Understand What It Is Doing

Courtesy of ZeroHedge View original post here.

By Michael Every of Rabobank

Warning: May contain crisis

I am lucky in that I don’t have a serious food allergy, such as to peanuts. I fully grasp just how dangerous these can be to those that unfortunately do, and why we need clear food labels to show if there is even a trace of nuts. Having said that, I always find it ironic that when I get given the standard packet of peanuts on a plane, it is labelled: “Warning: may contain nuts”. Are there people who might not know that peanuts contain nuts? Appa...



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Phil's Favorites

The Martian

 

The Martian

Courtesy of Scott Galloway, No Mercy/No Malice@profgalloway

I often write about platforms (iOS, Amazon Marketplace, etc.) as they are a source of value creation and power. The platform of unprecedented wealth creation is the free market of capitalism. The global adoption of markets has corresponded with the greatest expansion of prosperity in human history. But similar to tech platforms, free markets are neither naturally occurring nor immune to collapse. The “free” market can fail.

Live from New York

This Saturday at 11:29 pm ET, we’ll witness the lat...



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Digital Currencies

NFTs are much bigger than an art fad - here's how they could change the world

 

NFTs are much bigger than an art fad – here's how they could change the world

Homes fit for zeroes (and ones). Julien Tromeur

Courtesy of James Bowden, University of Strathclyde and Edward Thomas Jones, Bangor University

Sotheby’s has become the latest establishment name in art to dive into NFTs (non-fungible tokens) through its collaboration with anonymous ...



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Biotech/COVID-19

India COVID crisis: four reasons it will derail the world economy

 

India COVID crisis: four reasons it will derail the world economy

India is the fifth largest economy in the world. Deepak Choudhary/Unsplash

Courtesy of Uma S Kambhampati, University of Reading

The second wave of the pandemic has struck India with a devastating impact. With over 300,000 new cases and 3,000 deaths across the country each day at present, the total number of deaths has just passed the 200,000 mark – that’s about one in 16 of all COVID deaths across the world....



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Chart School

Yellen can not stop the dollar decline

Courtesy of Read the Ticker

Printing money results in a lower currency, so long as the currency does not fall too fast.

Previous Post: US Dollar Forecast - Weakness

Here are the very strong fundamentals for a lower US dollar: 

(a) US inflation exploding.
(b) Massive US twin deficits.
(c) Better conditions in Europe.

However French election worries in 2022 Q1 and Q2 may provide US dollar strength (via European weakness) after Christmas, but this strength may come after a low in the DXY near $84.  

It looks like Yellen knows a down swing in the US dollar is near because ...

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Politics

If China's middle class continues to thrive and grow, what will it mean for the rest of the world?

 

If China's middle class continues to thrive and grow, what will it mean for the rest of the world?

Over the past few decades, hundreds of millions of Chinese citizens have become part of the middle class. AP Photo/Ng Han Guan

Courtesy of Amitrajeet A. Batabyal, Rochester Institute of Technology

China’s large and impressive accomplishments over the past four decades have spurred scholars and politicians to debate whether the decline of the West – including the ...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Kimble Charting Solutions

Will Historic Selloff In Treasury Bonds Turn Into Opportunity?

Courtesy of Chris Kimble

Long-dated treasury bonds have been crushed over the past year, sending ETFs like TLT (20+ Year US Treasury Bond ETF) spiraling over 20%.

Improving economy? Inflation concerns? Perhaps a combination of both… interest rates have risen sharply and thus bond prices have fallen in historic fashion.

Today’s chart looks at $TLT over the past 20 years. As you can see, the recent decline has truly been historic. $TLT’s price has swung from historically overbought highs to oversold lows.

At present, the long-dated bond ETF ($TLT) is trading 7.8% below its 200-...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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Promotions

Phil's Stock World's Weekly Webinar - March 10, 2021

Don't miss our latest weekly webinar! 

Join us at PSW for LIVE Webinars every Wednesday afternoon at 1:00 PM EST.

Phil's Stock World's Weekly Webinar – March 10, 2021

 

Major Topics:

00:00:01 - EIA Petroleum Status Report
00:04:42 - Crude Oil WTI
00:12:52 - COVID-19 Update
00:22:08 - Bonds and Borrowed Funds | S&P 500
00:45:28 - COVID-19 Vaccination
00:48:32 - Trading Techniques
00:50:34 - PBR
00:50:43 - LYG
00:50:48 - More Trading Techniques
00:52:59 - Chinese Hacks Microsoft's E...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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