快樂牛郎

fuxking BP
a lot of us don't deserve this

快樂牛郎

It's fine if BP gets shorted to death, but add the moron Obama and you have a whole bunch of other GOM players suffering

快樂牛郎

now  I want to know if he'll have the balls to fight with the republicans about the other off shore drilling projects ....

There's nothing wrong with other offshore projects.  What Obama is doing right now is to shut off all airlines when a plane crash caused by human error has happened. I cannot see him getting another term.  Republicans need to kick this guy out.  The worst president ever.

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And don't joke, North Americans cannot live without oil. Would Americans want another environmental disaster or a 7-year war with the Middle East?

快樂牛郎

And don't joke, North Americans cannot live without oil. Would Americans want another environmental disaster or a 7-year war with the Middle East?

I am already drown in this Obama fiasco.  However, I don't think Obama or the Americans can afford to have oil going much higher.  I wouldn't bet on the oil price to go above $80 any time soon.  If they are gonna stop drilling completely, I guess there will be turmoil and a double recession.

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Imposing a Memotorium does not increase the safety of deep sea drilling.  It only kills off hundreds of thousands of jobs and the related industries.  The technology BP used was unsafe and outdated, so they deservingly got punished.  But there are many other prudent drillers out there who have done nothing wrong and got slammed.

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What I am saying is, in light of the BP accident, the ban on deep sea drilling make sense because the risks are far too great.

There's a risk to everything.  The fact that we have had this spill probably means that we won't have a similar spill in 20, 30 years.  Politicians like to make knee-jerk reactions to accidents without thinking through the various outcomes.

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Interesting analysis on the situation guys. Let's see if the oil price will really be contained desp ...
BiscottiGelato 發表於 2010/6/2 12:39

Natural Gas could see a turn-around with oil being so unpopular right now

快樂牛郎

But as long as the ban is only temporary on the low risk / low disaster impact operations (eg. closer, shallower drills, maybe?), then it can be said that the extra caution was well worth it.

Nobody says shallow drilling is any safer or more environmental friendlier than deep sea drilling.  The oil spill near Mexico in 1980 that dragged on for 10 months was a shallow well.

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Just as the current oil spill, most shallow spills in history could only be stopped by drilling a relief well.  The only relative benefit is that the environmental damage of a shallow spill is more visible and easier to contain.  But the whole point is to bring in safety measures to prevent ANY spill.  Since deep water has many times more reserve than shallow water, to get the same amount of oil you would probably have to drill 3 shallow water wells instead of 1 deep water well.  This alone increases the risk of any explosion.