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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Phil's Favorites

Antigen tests for COVID-19 are fast and easy - and could solve the coronavirus testing problem despite being somewhat inaccurate

 

Antigen tests for COVID-19 are fast and easy – and could solve the coronavirus testing problem despite being somewhat inaccurate

Antibodies are incredibly good at finding the coronavirus. Antigen tests put them to work. Sergii Iaremenko/Science Photo Library via Getty Images

Courtesy of Eugene Wu, University of Richmond

In late February, I fell ill with a fever and a cough. As a biochemist who teaches a class on viruses, I’d been tracking the outbreak of...



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Biotech/COVID-19

Antigen tests for COVID-19 are fast and easy - and could solve the coronavirus testing problem despite being somewhat inaccurate

 

Antigen tests for COVID-19 are fast and easy – and could solve the coronavirus testing problem despite being somewhat inaccurate

Antibodies are incredibly good at finding the coronavirus. Antigen tests put them to work. Sergii Iaremenko/Science Photo Library via Getty Images

Courtesy of Eugene Wu, University of Richmond

In late February, I fell ill with a fever and a cough. As a biochemist who teaches a class on viruses, I’d been tracking the outbreak of...



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ValueWalk

Boeing cuts thousands more jobs than originally said

By Michelle Jones. Originally published at ValueWalk.

Boeing’s job cuts are going deeper than initially said. The aerospace giant is cutting over 12,000 jobs in the U.S., which is thousands more than it originally planned to cut. The job cuts come as Boeing restructures and seeks to deal with the fallout from the coronavirus pandemic without a government bailout after years of share buybacks.

Q1 2020 hedge fund letters, conferences and more

Boeing job cuts number 12,000

Boeing said this week that the 12,000 job cuts include 6,770 involuntary layoffs. The company also said it's planning "several thousand remaining layoffs" in the coming months...



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Zero Hedge

Ted Cruz Accuses Twitter Of Violating Sanctions Against Iran, Demands DoJ Probe

Courtesy of ZeroHedge View original post here.

We've mentioned in nearly every single one of our posts about this week's dustup between the president and Twitter that the Ayato...



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Kimble Charting Solutions

Tech Indicator Suggesting A Historic Top Could Be Forming?

Courtesy of Chris Kimble

Tech stocks have been the clear leader of the stock market recovery rally, this year and since the lows back in 2007!

But within the ranks of leadership, and an important ratio may be sending a caution message to investors.

In today’s chart, we look at the ratio of large-cap tech stocks (the Nasdaq 100 Index) to the broader tech market (the Nasdaq Composite) on a “monthly” basis.

The large-cap concentrated Nasdaq 100 (only 100 stocks) has been the clear leader for several years versus the ...



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The Technical Traders

M2 Velocity Collapses - Could A Bottom In Capital Velocity Be Setting Up?

Courtesy of Technical Traders

M2 Velocity is the measurement of capital circulating within the economy.  The faster capital circulates within the economy, the more that capital is being deployed within the economy to create output and opportunities for economic growth.  When M2 Velocity contracts, capital is being deployed in investments or assets that prevent that capital from further circulation within the economy – thus preventing further output and opportunity growth features.

The decline in M2 Velocity over the past 10+ years has been dramatic and consistent with the dramatic new zero US Federal Reserve interest rates initiated since just after the 2008 credit crisis market colla...



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Lee's Free Thinking

US Southern States COVID19 Cases - Let's Give Credit Where Due

 

US Southern States COVID19 Cases – Let’s Give Credit Where Due

Courtesy of  

The number of new COVID 19 cases has been falling in the Northeast, but the South is not having the same experience. The number of new cases per day in each Southern state has been rangebound for the past month.

And that’s assuming that the numbers haven’t been manipulated. We know that in Georgia’s case at least, they have been. And there are suspicions about Florida as well, as the State now engages in a smear campaign against the fired employee who built its much praised COVID19 database and dashboar...



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Chart School

Is this your local response to COVID 19

Courtesy of Read the Ticker

This is off topic, but a bit of fun!


This is the standard reaction from the control freaks.








This is the song for post lock down!







What should be made mandatory? Vaccines, hell NO! This should be mandatory: Every one taking their tops off in the sun, they do in Africa!

Guess which family gets more Vitamin D and eats less sugary carbs, TV Show



...



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Digital Currencies

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

 

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

App-etising? LDprod

Courtesy of Michael Rogerson, University of Bath and Glenn Parry, University of Surrey

Food supply chains were vulnerable long before the coronavirus pandemic. Recent scandals have ranged from modern slavery ...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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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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Promotions

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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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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