Posts Tagged ‘gushing oil’

BP Looming Disaster

BP Looming Disaster

Courtesy of Allan 

Let’s start with the Daily Trend Model, but it gets worse according to the article appearing after the chart.

I lifted the following piece off of a trader’s forum this weekend and although I don’t know enough to comment on the veracity of the content, its scary enough to pass along, just in case it’s true.

Lindsey Williams is out with a new interview, over at Alex Jones. He’s claiming the following info about the BP Deepwater Horizon oil leak. He claims the information came from an oil industry executive whom he knew in Alaska when he lived with these people, and worked with them.

http://www.infowars.com/lindsey-williams-talks-with-alex-jones-about-deadly-gases-leaking-from-bp-spill/

I don’t do a lot of Alex Jones. This information is unconfirmed, so we’ll have to see.

Here’s some of the information in summary form.

1) This is not a conspiracy, it’s an accident, and a disaster.

2) The oil is abiotic oil, from deep within the earth. It is not the fossilized remains of long dead life. This oil is produced within the earth, and the earth is full of it. The Russians discovered abiotic oil, and are now the number 1 exporters of oil in the world; but they had the good sense to drill for the stuff on land. Lindsey says the text books on how oil is formed will have to be rewritten. He stated there is no such thing as Peak Oil.

3) The oil is gushing from the well at pressures between 20,000 and 70,000 pounds per square inch. Lindsey indicates the wells in Prudhoe Bay, AK, came in at about 1,500 pounds of pressure. He says 50,000 pounds of pressure is beyond our technical ability to contain. I think this means that it would have blown the safety valve, even if it had not been defective. Lindsey indicated that the oil is gushing out at the rate of about 4 million gallons per day, but that the gent speaking knew he’d be quoted, and Lindsey suggested that you could put the actual figure much higher.

4) There is no hope of stopping the spill short of a nuclear weapon. It will take months to put this device (bomb) in place, as there will have to be an angle well drilled, and the bomb placed in it. I think this


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Simmons Says Obama Should Detonate Nukes to Seal Oil Leak; Obama Suspends Deep Water Drilling Programs; Scientists Locate Another Vast Oil Plume

Simmons Says Obama Should Detonate Nukes to Seal Oil Leak; Obama Suspends Deep Water Drilling Programs; Scientists Locate Another Vast Oil Plume

Courtesy of Mish

BP uses Top Kill method to try to stop oil leak in the Gulf of Mexico

News in the gulf regarding BP’s oil leak is grim. The "Top Kill" plan has reportedly failed although BP says it will continue efforts.

Worse yet, Matt Simmons says "Top Kill" is a sideshow, misses the big problem, and we might need nukes to seal the leak.

Let’s take a look at those stories starting with BP Engineers Making Little Headway on Leaking Well.

BP engineers struggled Friday to plug a gushing oil well a mile under the sea, but as of late in the day they had made little headway in stemming the flow.

Amid mixed messages about problems and progress, the effort — called a “top kill” — continued for a third day, with engineers describing a painstaking process of trying to plug the hole, using different weights of mud and sizes of debris like golf balls and tires, and then watching and waiting. They cannot use brute force because they risk making the leak worse if they damage the pipes leading down to the well.

Despite an apparent lack of progress, officials said they would continue with the process for another 48 hours, into Sunday, before giving up and considering other options, including another containment dome to try to capture the oil.

Deep Water Drilling Grinds to Halt

Bloomberg reports Oil Industry Faces Its ‘1,000-Year Flood’ as Drilling Is Halted

“The spill is like the 1,000-year flood: it’s the worst- case scenario,” said Brian Youngberg, an analyst with Edward Jones in St. Louis. “It’s hard to prepare for those extreme situations like that.”

Obama dropped plans to open waters off the coast of Virginia to drilling, canceled a lease sale in the Gulf, and suspended the permitting process for Royal Dutch Shell Plc’s planned wells off of Arctic Alaska. He said new safety rules will be imposed on offshore drilling.

U.S. oil output may be cut by 160,000 barrels a day next year as a result of the ban, according to Deutsche Bank AG. A one-year delay to deep-water projects would reduce global supplies by 500,000 barrels a day between 2013 and 2017, Sanford C. Bernstein said.

Shell has five wells affected by Obama’s call to halt drilling at 33 exploratory locations. Eni SpA, based in Rome, and


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Zero Hedge

Michael Bloomberg Spending $80 Million To Flip House To Democrats

Courtesy of ZeroHedge. View original post here.

With the Democratic Party in shambles and the DNC somehow always broke and demanding refunds from Hillary Clinton, Michael Bloomberg plans to peel off $80 million of his estimat...



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Phil's Favorites

Breaking up families? America looks like a Dickens novel

 

Breaking up families? America looks like a Dickens novel

Almost 1,500 immigrant boys, aged 10 to 17, were separated from their parents and brought to stay at Casa Padre in Brownsville, Texas. Department of Health and Human Services

Courtesy of Sarah Bilston, Trinity College

The news has been full these past few weeks of disturbing stories from the nation’s borders. The T...



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Chart School

Small Caps Add To Gains

Courtesy of Declan.

Good news for momentum traders as the Russell 2000 continued its good run. The Russell 200 will start to get hot when it gets into the 15% profit take zone at 1,732 - a zone last seen tested in December 2016; if we are looking at February 2011 levels (the 5% historic zone) then the Russell 2000 would be tagging 1,813. Start taking profits, or sell covered calls, when we get into these levels.


The S&P reversed off resistance in early June and hasn't yet mounted a challenge to break it - today's gain off its 20-day M...

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Insider Scoop

Munster: Even If China Levies Taxes On iPhones, Your Cost Will Likely Stay The Same

Courtesy of Benzinga.

Related AAPL Selling Pressure Seems Ready To Ebb A Bit, But Trade Fears Haven't Vanished Citi: F5 Networks S...

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Digital Currencies

BIS Blasts Cryptos In Special Report: "Beyond The Hype"

Courtesy of Mike Shedlock, MishTalk

The BIS blasts cryptos over scaling issues, energy, and trust. The BIS is correct. Cryptos are fatally flawed as money.

A Bank of International Settlements (BIS) report examines cryptocurrencies in depth. The study, called "Looking Beyond the Hype" investigates whether cryptocurrencies could play any role as money.

Bloomberg, Reuters, and the Bitcoin Exchange guide all have articles on the report but not one of the bothered to link to it.

After a bit of digging, I found the crypto report is part of an upcoming BIS annual report. The BIS pre-released the crypto report today (as chapter 5).

Here's a l...



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Biotech

Mind molding psychedelic drugs could treat depression, and other mental illnesses

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

Mind molding psychedelic drugs could treat depression, and other mental illnesses

By agsandrew/shutterstock.com

Courtesy of David E. Olson, University of California, Davis

It seems that psychedelics do more than simply alter perception. According to the latest research from my colleagues and me, they change the structures of neurons th...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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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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