The geyser of oil and less than cheery news on the Gulf oil spill continues unabated. The news updates of the day include: Reports from a Congressional briefing that suggest, as many have speculated, that the mud was removed despite heavy gas output, a warning sign, with BP admitting its workers may have made a […]
Read more...This is just a snippet (and this message is per the request of Lambert Strether, who has a post of his own up and trying to get further information from other Deepwater Horizon live cam bloggers or watchers): Major changes happening at BP Disaster site: http://monkeyfister.blogspot.com/2010/05… There have been several major eruptions of the seabed […]
Read more...It isn’t hard to see that the lack of decent information about how serious the Deepwater Horizon oil spill is is almost certainly due to obfuscation on the part of BP. The puzzling part is how BP can fantasize that it ultimately gains from this conduct, and why the Obama Administration tolerates it. The frustration […]
Read more...Ooh, this gets uglier and uglier the harder one looks at this. From the Associated Press via ABC (hat tip reader Glenn Stehle): The federal agency responsible for ensuring that an oil rig in the Gulf of Mexico was operating safely before it exploded last month fell well short of its own policy that inspections […]
Read more...Many of my investor buddies e-mail each other frequently during the day (yes, e-mail, not IM or tweet) and I am on the periphery of some of their discussions. One of them took note of the fact that the libertarians in this crowd had gone silent on the question of the Deepwater Horizon oil spill, […]
Read more...By Glenn Stehle, an engineer who began working in the oil industry in 1974. After a two-year stint with Cities Service Oil Company, he worked for two years for Henry Engineering, a petroleum engineering consulting firm. Upon leaving Henry Engineering he worked as an independent engineering consultant in all facets of the oil and gas […]
Read more...So far, just a headline at the Wall Street Journal: “BP Suffers Setback in Installing Containment Dome” and merely a “Breaking News” listing. From its e-mail alert: Hydrate build-up stalled placement of the containment dome over gushing oil. The BP executive of the dome said, “I would say it has failed.” Scanning other news services; […]
Read more...From Reuters: BP has given up on efforts by underwater robots to close valves on a failed blowout preventer at the site of a massive oil leak in the U.S. Gulf of Mexico, an executive said on Friday. “We’ve essentially used up all those options,” Doug Suttles, chief operating officer for BP (BP.L) (BP.N) said […]
Read more...I imagine that many readers will react as I did to the Washington Post story, “In China, Wal-Mart presses suppliers on labor, environmental standards” (hat tip reader Paul S): that this story, yet another tidbit supporting the Bentonville giant’s supposed conversion to the true green camp, has to make sense on a cold-blooded P&L basis, […]
Read more...By John Bougearel, author of Riding the Storm Out and Director of Financial and Equity Research for Structural Logic Policymakers managed to extinguish a financial panic in 2008-09 by March 2009. This rescue operation allowed the broad U.S. stock market as measured by the SP500 to rally nearly 70%. Extinguishing the panic was to be […]
Read more...By Bruce Krasting, a former foreign exchange and derivatives trader and hedge fund manager. Mohammad said, “One cannot foretell the future”. I think he was on to something. What looks predictable rarely happens. There are always surprises. I have been tripped up so many times. The following are not predictions of things that will happen. […]
Read more...The famed hedge fund investor George Soros has decided to make a serious push into clean energy, not only investing in projects but also forming an organization to weigh in on policy issues. From Bloomberg: Billionaire George Soros, looking to address the “political problem” of climate change, said he will invest $1 billion in clean-energy […]
Read more...You cannot make this stuff up. The Saudis are lobbying for foreign aid in anticipation of declining oil revenues. Hat tip reader Michael: Saudi Arabia has led a quiet campaign….demanding behind closed doors that oil-producing nations get special financial assistance if a new climate pact calls for substantial reductions in the use of fossil fuels. […]
Read more...This idea of China being ahead of the game in anything environment protection related probably strikes readers as ironic, given reports of extensive industrial pollution, such as air pollution on a scale that is changing weather patterns, large scale lead poisoning, and cadmium in the soil. As Forbes commented recently, “China: Where Poisoning People Is […]
Read more...John Dizard in today’s Financial Times highlights a news-worthy development that has somehow gone largely under the radar, namely, that the one reasonably well functioning US cap and trade regime has come under a legal cloud, not only to detriment of the market, but also to pollution emissions. The legal beef is that the EPA […]
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