Posts Tagged ‘fishing industry’

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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BP Inserts Siphon Into Oil Leak, Washington Warns BP; Slick New Videos; Tracking the Spill; Will BP Survive?

BP Inserts Siphon Into Oil Leak, Washington Warns BP; Slick New Videos; Tracking the Spill; Will BP Survive?

Courtesy of Mish 

In what everyone hopes will be the start of sealing the leak, on its second attempt BP Inserts Siphon Into Oil Leak.

BP PLC successfully inserted a tube into the broken pipe leaking oil into the Gulf of Mexico early Sunday, a person close to the containment operation said, increasing the chances that the company will be able to siphon off much of the oil now gushing into the sea.

The tube is designed to capture a large part of the oil spewing from the pipe and direct it securely to a ship on the surface.

Earlier efforts to contain the spill ran into a series of setbacks. BP made a first attempt to insert the tube late Saturday, but it fell out following a collision between two subsea robots. Before that, a huge dome that was to be lowered onto the leak got clogged up with gas crystals or hydrates.

It’s still unclear whether the new siphoning operation will work. Even in the best-case scenario, the tube won’t capture all the leaking oil.

Video of Gushing Leak

4 Ways Considered To Stop The Spill

The Wall Street Journal has graphics showing 4 Ways Considered To Stop The Spill

1. Drilling Relief Wells
2. Treading the Needle, inserting a 6-inch vacuum tube inside the riser to suck up oil
3. Junk Shot, placing golf balls and other junk into the bottom of the blowout preventer before cement is injected into the top
4. Top Hat shown below

In regards to "Junk Shot", it seems to me that golf balls are relatively light as are broken pieces of rubber tires that have also been mentioned. If you are going to try this, why not lead balls?

Right now the focus is on threading the needle

Letter from Secretary of Interior to CEO of BP 

Inquiring minds are reading the letter from Ken Salazar, Secretary of the Interior, to Dr. Anthony Hayward, Group Chief Executive BP.

The BP Deepwater Horizon oil spill may prove to be one of the most devastating environmental disasters this nation has ever faced. As one of the responsible parties for this event, BP is accountable to the American public for the full clean up


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Zero Hedge

US Exposed To Immediate Impact From "Supply-Chain Shock", Deutsche Says

Courtesy of ZeroHedge View original post here.

In the last few weeks, we've provided many articles on the evidence of creaking global supply chains fast emerging in China and spreading outwards. Anyone in supply chain management, monitoring the flow of goods and services from China, has to be worried about which regions will be impacted the most (even if the stock market couldn't care less).  

Deutsche Bank's senior European economist Clemente...



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Kimble Charting Solutions

Apple Facing Very Important Breakout Test, Says Joe Friday

Courtesy of Chris Kimble

The trend for Apple (AAPL) is definitely higher. Is Apple facing a key price test to determine if the trend remains the same? Yes!

The chart looks at AAPL on a weekly basis over the past 5-years. Apple has created a series of higher lows and higher highs, which has created a rising channel (1).

Fibonacci was applied to its 2016 lows and 2018 highs at each (2).

Apple is currently testing the underside of the rising channel (1) and its 161% Fibonacci extension level at (3).

Joe Friday Just The Facts Ma’am; A key breakout test is in...



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The Technical Traders

Is The Technology Sector Setting Up For A Crash? Part IV

Courtesy of Technical Traders

As we continue to get more and more information related to the Coronavirus spreading across Asia and Europe, the one thing we really must consider is the longer-term possibility that major global economies may contract in some manner as the Chinese economy is currently doing.  The news suggests over 700+ million people in China are quarantined.  This is a staggering number of people – nearly double the total population of the entire United States.

If the numbers presented by the Chinese are accurate, the Coronavirus has a very high infection rate, yet a moderately small mortality rate (2~3%).  Still, if this virus continues to spread throughout the world and infects m...



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Insider Scoop

6 Industrials Stocks Moving In Friday's Pre-Market Session

Courtesy of Benzinga

Gainers
  • ToughBuilt Industries, Inc. (NASDAQ: TBLT) shares moved upwards by 10.3% to $0.23 during Friday's pre-market session. The most recent rating by Maxim Group, on February 05, is at Buy, with a price target of $0.50.
  • Deere, Inc. (NYSE: DE) stock moved upwards by 6.3% to $176.29. The most recent rating by BMO Capital, on December 02, is at Outperform, with a price target of $180.00.
  • Ballard Power Systems, Inc. (NASDAQ: BLDP) ...


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Phil's Favorites

Why Trump's post-impeachment actions are about vengeance, not retribution

 

Why Trump's post-impeachment actions are about vengeance, not retribution

President Trump fired Army Lt. Col. Alexander Vindman for testifying in his impeachment trial. AP Photo/Susan Walsh, File

Courtesy of Austin Sarat, Amherst College

Since the end of his Senate impeachment trial, President Donald Trump has carried out a concerted campaign against ...



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Biotech & Health

Deep learning AI discovers surprising new antibiotics

 

Deep learning AI discovers surprising new antibiotics

A colored electron microscope image of MRSA. NIH - NIAID/flickr, CC BY

Courtesy of Sriram Chandrasekaran, University of Michigan

Imagine you’re a fossil hunter. You spend months in the heat of Arizona digging up bones only to find that what you’ve uncovered is from a previously discovered dinosaur.

That’s how the search for antibiotics has panned out recently. The relatively few antibiotic hunters out there ...



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Digital Currencies

Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

 

Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

‘We have you surrounded!’ Wit Olszewski

Courtesy of Gavin Brown, Manchester Metropolitan University and Richard Whittle, Manchester Metropolitan University

When bitcoin was trading at the dizzying heights of almost US$2...



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ValueWalk

What US companies are saying about coronavirus impact

By Aman Jain. Originally published at ValueWalk.

With the coronavirus outbreak coinciding with the U.S. earnings seasons, it is only normal to expect companies to talk about this deadly virus in their earnings conference calls. In fact, many major U.S. companies not only talked about coronavirus, but also warned about its potential impact on their financial numbers.

Q4 2019 hedge fund letters, conferences and more

Coronavirus impact: many US companies unclear

According to ...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Tuesday, 01 October 2019, 02:18:22 AM

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Comment: Wall of worry, or cliff of despair!



Date Found: Tuesday, 01 October 2019, 06:54:30 AM

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Comment: Interesting.. Hitler good for the German DAX when he was winning! They believed .. until th...



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Members' Corner

How to Stop Bill Barr

 

How to Stop Bill Barr

We must remove this cancer on our democracy.

Courtesy of Greg Olear, at PREVAIL, author of Dirty Rubles: An Introduction to Trump/Russia

...



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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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About Phil:

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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