Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
S&P Stock Market Trend Forecast to Dec 2024 - 16th Apr 24
No Deposit Bonuses: Boost Your Finances - 16th Apr 24
Global Warming ClImate Change Mega Death Trend - 8th Apr 24
Gold Is Rallying Again, But Silver Could Get REALLY Interesting - 8th Apr 24
Media Elite Belittle Inflation Struggles of Ordinary Americans - 8th Apr 24
Profit from the Roaring AI 2020's Tech Stocks Economic Boom - 8th Apr 24
Stock Market Election Year Five Nights at Freddy's - 7th Apr 24
It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- 7th Apr 24
AI Revolution and NVDA: Why Tough Going May Be Ahead - 7th Apr 24
Hidden cost of US homeownership just saw its biggest spike in 5 years - 7th Apr 24
What Happens To Gold Price If The Fed Doesn’t Cut Rates? - 7th Apr 24
The Fed is becoming increasingly divided on interest rates - 7th Apr 24
The Evils of Paper Money Have no End - 7th Apr 24
Stock Market Presidential Election Cycle Seasonal Trend Analysis - 3rd Apr 24
Stock Market Presidential Election Cycle Seasonal Trend - 2nd Apr 24
Dow Stock Market Annual Percent Change Analysis 2024 - 2nd Apr 24
Bitcoin S&P Pattern - 31st Mar 24
S&P Stock Market Correlating Seasonal Swings - 31st Mar 24
S&P SEASONAL ANALYSIS - 31st Mar 24
Here's a Dirty Little Secret: Federal Reserve Monetary Policy Is Still Loose - 31st Mar 24
Tandem Chairman Paul Pester on Fintech, AI, and the Future of Banking in the UK - 31st Mar 24
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Breaking News BP Gulf Oil Disaster, Blown a Hole in the Sea Floor?

Politics / Environmental Issues Jun 07, 2010 - 11:09 PM GMT

By: Submissions

Politics

Best Financial Markets Analysis ArticleDr Stephen A Rinehart writes: These are from a close source (cannot confirm yet). If true, could world stock markets crash soon?! I am not the one who talked to Matt Simmons - the source talked to Matt Simmons. Interesting is Sen Nelson mentioned on National TV that there are "reports of oil seeping up from the seabed and if true may mean the relief well amy not work unless you can plug at the bottom because all the casing is damaged".


Talked to Matt Simmons today. He had just appeared on the MSNBC Dylan Ratigan show where he told a similar tale. Here’s his story:

There are not cracks in the sea floor. The Thomas Jefferson, deployed from Woods Hole, will end up finding an open hole where the well and casing used to be, some miles away from where BP is working. It is putting out 100,000 to 150,000 bpd.

The explosion blew the Blowout Preventer off and left the riser on the sea floor. The recovery effort is just coming from the riser. The gas plumes you see in the videos are only 3 to 4 feet high. That’s not the main oil source.

The claims of 11,000 bpd recovery is just lies.

We don’t know where the BOP is. That’s just the riser you’re seeing.

The well must have blown at 50,000 psi.

When they find the oil well, it will be without any casing. All the casing blew out of the well. This is common occurrence. It was a bad cementing job. That is why relief wells cannot possibly work.

The Soviets put their bombs down the open hole (not true, of course). The Navy needs to come in with a device that can force a 7” A-bomb 18,000 feet down the well and detonate it.

You have to stop the gusher. It may cover 40% of the Gulf of Mexico 400 to 500 feet thick.

We should be deploying tankers to suck up the oil from the bottom.

Oil men have agreements with BP so they don’t talk. Many oil service companies are under confidentiality agreements with BP, so they can’t talk.

Oil pollution in the intake water will cause Gulf oil refineries to shut down. it takes 3 gallons of water for every gallon of gasoline produced. If they can’t get clean intake water, they’ll have to shut down. The price of oil and gas will go up. We don’t have much refined gas on reserve.

For some reason Wall Street firms are still issuing buy orders on BP. Today there are 20 sell 20 buy, and no shorts.
Goldman Sachs probably wants to be BP’s bankruptcy adviser.


By: Dr Stephen A Rinehart

stevecin@bellsouth.net

© 2010 Copyright Stephen A Rinehart   - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in