Posts Tagged ‘oil spill investigation’

Oil Spill: Commission Finds That Companies Knew of Cement Flaws in the Macondo Well

Oil Spill: Commission Finds That Companies Knew of Cement Flaws in the Macondo Well [UPDATE]

By BRYAN WALSH, courtesy of TIME 

DULARGE, LA - AUGUST 16: Daniel May runs his small shrimping skiff through a bayou on August 16, 2010 near DuLarge, Louisiana. Today marks the beginning of the shrimping season for white shrimp in Louisiana, the first since the Deepwater Horizon accident in the Gulf of Mexico. (Photo by Win McNamee/Getty Images)

[Update: Looking again over the letter from the commission's investigator, Fred Bartlit, it's not obvious how clear Halliburton's one warning to BP on the cement test were. From the letter:

Halliburton provided data from one of the two February tests to BP in an email dated March 8, 2010. The data appeared in a technical report along with other information. There is no indication that Halliburton highlighted to BP the significance of the foam stability data or that BP personnel raised any questions about it. There is no indication that Halliburton provided the data from the other February test to BP.

If Halliburton really failed to highlight the problems with the cement test to BP, and simply buried the data in a vast technical report, that would seem to shift more of the blame to Halliburton—although at the end of the day, it is still BP's well. And as Bartlit notes at the end of his letter, since there's always a risk that cement jobs can be faulty, there are tests that can be done to doublecheck the quality—and BP and Transocean, the company actually operating the Deepwater Horizon, did not seem to perform these tests. More info will be forthcoming as the companies respond, but right now it's not looking good for Halliburton—the company's share prices are already down by 8%.]

Original post: In the first official finding of responsibility for the Deepwater Horizon catastrophe—the worst oil spill in U.S. history—the presidential commission investigating the accident found that both Halliburton and BP knew before the explosion on April 20 that the cement mixture that was meant to seal the Macondo well was unstable. Despite that fact, they still went ahead with the work, setting the stage for the accident. The staff found that Halliburton—in charge of cementing the Macondo well—had conducted four laboratory tests that indicated the cement mixture standards wasn’t up to industry standards. The results of at least one of those tests was given to BP on March 8, yet BP failed to act on it. Another Halliburton cement test was carried out about a week before the Deepwater Horizon blowout—and the test also found the cement was unstable—yet the results were never sent to BP.

All of this new information comes…
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Zero Hedge

UConn Becomes First Major College In The US To Cancel 2020 Football Season

Courtesy of ZeroHedge View original post here.

UConn's 2020 football season will forever remain the year that could have been.

The Connecticut flagship state university set a nationwide precedent on Wednesday when its athletic department announced that it would cancel its upcoming football season over fears tied to the coronavirus pandemic.

...



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The Technical Traders

Walk Through the Gold and Silver Charts to See What to Expect

Courtesy of Technical Traders

Check out the analysis of this morning’s Gold and Silver charts by our own Chris Vermeulen, Chief Market Strategist and Founder of TheTechnicalTraders.com, to see what is in store for precious metals. Make sure you check out our Gold and Silver article from August 4th, 2020 for additional context behind our predictions and rationale for continued price appreciation.

Learn more about our ...



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Phil's Favorites

What the huge COVID-19 testing undercount in the US means

 

What the huge COVID-19 testing undercount in the US means

Health care workers use a nasal swab to test a person for COVID-19 in Pembroke Park, Florida. Joe Raedle / Getty Images News

Courtesy of Melissa Hawkins, American University

Researchers from the Centers for Disease Control and Prevention and other institutions recently published a study which estimated that the true number of people infected by COVID-19 could be six to 24 times high...



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Biotech/COVID-19

What the huge COVID-19 testing undercount in the US means

 

What the huge COVID-19 testing undercount in the US means

Health care workers use a nasal swab to test a person for COVID-19 in Pembroke Park, Florida. Joe Raedle / Getty Images News

Courtesy of Melissa Hawkins, American University

Researchers from the Centers for Disease Control and Prevention and other institutions recently published a study which estimated that the true number of people infected by COVID-19 could be six to 24 times high...



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ValueWalk

Beyond Meat Has Not Disclosed Its Environmental Effects

By Jacob Wolinsky. Originally published at ValueWalk.

A recent S&P Global Market Intelligence Trucost analysis found that Beyond Meat Inc., the maker of plant-based meat alternatives, has not disclosed the full extent of its environmental impacts. This includes the amount of greenhouse gases emitted or the volume of water discharged.

Q2 2020 hedge fund letters, conferences and more

Beyond Meat Has "0" Disclosure Of Environmental Impacts

Key insights from the analysis include:

  • Beyond Meat’s weighted environmental disclosure ratio, which shows what percentage of its environmental impacts it discloses...


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Kimble Charting Solutions

Is the US Dollar Nearing Bottom? Or Is It Different This Time?

Courtesy of Chris Kimble

The U.S. Dollar ran into a perfect storm in 2020: a pandemic (Coronavirus), an easy Federal Reserve, and trillions of dollars in government stimulus.

The result has been a steep decline in the greenback.

Looking at today’s chart, however, suggests that the US Dollar may be nearing a bottom. That is if recent history proves true.

The Dollar is testing its 9-year bullish up-trend support at (1) and US Dollar bulls are disappearing. In fact, investors are the least bullish the US Dollars (20% bulls) since 2011 at (2). Notice that each ...



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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: Sunday, 29 March 2020, 07:00:37 PM

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Comment: Silver Shorts Are In a Bind | Ted Butler youtu.be/qQc0AoJp-Q8



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Comment: 5 Questions From You for Luke Gromen youtu.be/nVZD_fuxbQE


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Digital Currencies

Twitter Says "Human Error" And "Spear-Phishing Attack" Responsible For Massive Bitcoin Hack

Courtesy of ZeroHedge

Twitter suffered from a major hack about two weeks ago and has now said that its staff was tricked by "spear-phishing", which is a targeted attack to trick people into simply handing out their passwords. 

Twitter staff were targeted through their phones, according to a new report from the BBC. The attacks then allowed hackers the ability to Tweet from celebrity Twitter accounts. Twitter has said it was "taking a hard look" at how it could improve its permissions and processes.

"The attack on July 15, 2020, targeted a small number of employees through a phone spear phishing attack. This attack relied on ...



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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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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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