Deepwater Horizon

biffvernon · Post by **biffvernon** » 28 Apr 2010, 08:01

And here from the NY Times we see the political fallout:
http://www.nytimes.com/2010/04/28/us/po ... ss&emc=rss

ziggy12345 · Post by **ziggy12345** » 28 Apr 2010, 22:59

$290K/Day is pretty cheap for that rig. Internationally they would be around $450K/Day. During a test with all the service costs it usually runs to around the $1,000,00 per day mark.

biffvernon · Post by **biffvernon** » 29 Apr 2010, 13:38

http://www.reuters.com/article/idUSN281 ... arketsNews

HOUSTON, April 28 (Reuters) - The U.S. Coast Guard on Wednesday said it has found a new leak beneath the site of last week's deadly offshore drilling rig explosion, and said five times as much oil was leaking as previously estimated.

At a briefing with reporters, U.S. Coast Guard Rear Admiral Mary Landry said London-based BP Plc (BP.L), owner of the leaking well and financially responsible for the cleanup, told U.S. officials of a new leak on a well 5,000 feet (1,525 metres) under the sea off Louisiana.

"BP has just briefed me of a new location of an additional breach in the riser of the deep underwater well," Landry said.

The leak, which has created a massive oil slick that could hit the Gulf Coast this weekend, is estimated at 5,000 barrels per day -- up from the Coast Guard's previous estimate of 1,000 barrels per day.

"We have urged BP to leverage additional assets," Landry said, adding that President Barack Obama has been briefed on the situation.

Eleven workers are missing and presumed dead after the worst oil rig disaster in almost a decade. Swiss-based Transocean Ltd's (RIGN.S)(RIG.N) Deepwater Horizon rig sank on April 22, two days after it exploded and caught fire while finishing a well for BP about 40 miles (64 km) southeast of the mouth of the Mississippi River. (Reporting by Chris Baltimore; Editing by Eric Walsh)

(my bolds)
This could be BP's biggest ever bill.

biffvernon · Post by **biffvernon** » 29 Apr 2010, 13:46

ziggy12345 wrote:$290K/Day is pretty cheap for that rig. Internationally they would be around $450K/Day. During a test with all the service costs it usually runs to around the $1,000,00 per day mark.

Dunno where you get those numbers from (or what relevance they have). How do they square with this:

The rig that was destroyed was one of Transocean’s most advanced rigs. Replacing it will cost about $700 million. Most of that—$560 million, according to Transocean—will be covered by insurance. The rig was set to begin a new three-year contract with BP (NYSE: BP), the owner of the well, in September at a rate of $497,000 a day. At the current day rate of $500,000, lost revenue on the remaining five months of the rig’s contract to BP is close to $75 million.

source

biffvernon · Post by **biffvernon** » 29 Apr 2010, 20:17

Top 10 worst oil spills:
http://www.msnbc.msn.com/id/36852827/ns ... yContinued

RenewableCandy · Post by **RenewableCandy** » 29 Apr 2010, 23:26

Insurance industry crash, anyone?

biffvernon · Post by **biffvernon** » 30 Apr 2010, 08:24

Article reflective of the off shore oil industry safety record in the Guardian today.

http://www.guardian.co.uk/environment/2 ... kers-death

emordnilap · Post by **emordnilap** » 30 Apr 2010, 09:47

This could be the worst environmental disaster of all time, if you care to exclude rainforest destruction and climate change. Maybe even if you include them.

And whatever about BP being responsible for the costs (what was it they were making, $700+ dollars a second profit last quarter?), Joe Soap pays, as usual. Shame we can't bail out the planet.

biffvernon · Post by **biffvernon** » 30 Apr 2010, 13:29

Here's what the oil looks like from above (note the scale bar).

http://earthobservatory.nasa.gov/IOTD/view.php?id=43846

Aurora · Post by **Aurora** » 30 Apr 2010, 17:46

BBC News - 30/04/10

The US administration has banned oil drilling in new areas of the US coast while the cause of the oil spill off Louisiana is investigated.

Article continues ...

ziggy12345 · Post by **ziggy12345** » 01 May 2010, 09:58

The oil well spewing crude into the Gulf of Mexico didn't have a remote-control shut-off switch used in two other major oil-producing nations as last-resort protection against underwater spills

http://online.wsj.com/article/SB1000142 ... 36798.html

Also this

"What we see, going back two decades, is an oil industry that has had way too much sway with federal regulations," said Dan McLaughlin, a spokesman for Democratic Florida Sen. Bill Nelson. "We are seeing our worst nightmare coming true."

2 As and a B · Post by **2 As and a B** » 01 May 2010, 13:24

emordnilap wrote:This could be the worst environmental disaster of all time, if you care to exclude rainforest destruction and climate change. Maybe even if you include them.

A local spill worse than global warming?

UndercoverElephant · Post by **UndercoverElephant** » 01 May 2010, 14:49

I would say that the worst non-global environmental disaster of all time was Chernobyl. This is potentially worst oil spill of all time though...especially if it takes three months to stop it at source.

goslow · Post by **goslow** » 01 May 2010, 16:27

really, worse than Exxon Valdez? Guy on R said yesterday the oil should stop flowing quite soon once the pressure in the well had reduced. so won't be as much oil as Exxon Valdez

UndercoverElephant · Post by **UndercoverElephant** » 01 May 2010, 17:54

goslow wrote:really, worse than Exxon Valdez? Guy on R said yesterday the oil should stop flowing quite soon once the pressure in the well had reduced.

Let's hope so...