Oil Slick Stuff

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eccougar said:
http://money.cnn.com/2010/05/24/news/economy/oil_spill_tax/index.htm
According to Kloza's calculations, the 8-cent tax on a barrel of oil works out to 0.19 cents per gallon of gas. He said that an increase to 32 cents on a barrel of oil would equal 0.76 cents per gallon of gas.
Click to expand...


must be New Math....
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Have they taken to consideration that these are international companies and the fund is from All Oil producers or did they just count the cost to American consumers? Seems that over the years there should be much more money in this fund. Have you any Idea how many of barrels of oil are used World Wide? The USA uses at last count 22 million barrels a day how much does China use for example, this is funny math but it just doesn't add up!:nuts: Maybe this is one years funds?:cool:
 
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BP Progressing LMRP in Parallel with Top Kill

Tuesday, May 25, 2010

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BP on Tuesday provided an update on developments in the response to the MC252 oil well incident in the Gulf of Mexico.
Subsea efforts continue to focus on progressing options to stop the flow of oil from the well through interventions via the MC252 blow out preventer (BOP) and to collect the flow of oil from the leak points. These efforts are being carried out in conjunction with industry experts and governmental authorities.

http://www.rigzone.com/news/article.asp?a_id=93712&hmpn=1
 
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BP: Top Kill Procedure Could Take 2 Days

Wednesday, May 26, 2010

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BP provided an update on developments in the response to the MC252 oil well incident in the Gulf of Mexico.
Subsea efforts continue to focus on progressing options to stop the flow of oil from the well through interventions via the blow out preventer (BOP), and to collect the flow of oil from the leak points. These efforts are being carried out in conjunction with industry experts and governmental authorities.
http://www.rigzone.com/news/article.asp?a_id=93759&hmpn=1
 
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INVENTORIES!

10:30 am : The US Dollar Index is trading near session highs, however, commodities are trading near session highs as well due to broad market strength. July crude oil began to rally halfway through the overnight session. Crude hit fresh highs of $70.90 per barrel at the top of the hour and was trading near that high ahead of inventory data. Following the data, which showed a build of 2.46 million barrels versus consensus of a build of 250K barrels, crude saw no immediate reaction and is currently 2.6% higher at $70.53 per barrel.

http://finance.yahoo.com/marketupdate/overview?u

Briefing.com
For.....Actual...Briefing.com....Consensus..Prior

05/22...2.46M.......NA.................NA.......0.162M
http://www.briefing.com/investor/Public/Calendars/EconomicCalendar.htm
 
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BP gets go-ahead for 'top kill' procedure

By the CNN Wire Staff
May 26, 2010 12:51 p.m. EDT


Venice, Louisiana (CNN) -- Federal authorities Wednesday gave the final authorization needed for BP to begin proceeding with the "top kill" maneuver to contain oil gushing into the Gulf of Mexico.
BP will make a decision within the next few hours on whether to proceed with the top kill, the oil company's top official said earlier Wednesday.
http://www.cnn.com/2010/US/05/26/gulf.oil.spil/index.html?hpt=T2
 
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US to Toughen Drilling Rules
by Jonathan Weisman & Jeffrey Ball

The Wall Street Journal

Wednesday, May 26, 2010

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WASHINGTON (Dow Jones Newswires), May 26, 2010
President Barack Obama, fighting to stay ahead of the political storm over the Gulf oil spill, is expected to announce on Thursday that the government will impose tougher safety requirements and a more rigorous inspections on offshore drilling operations.

http://www.rigzone.com/news/article.asp?a_id=93760&hmpn=1
 
Do I see a trend forming here?:nuts:
What is it that THEY say, never waste good crisis or something, well this one isn't being wasted, can't you see it?

Administration to Suspend Exploratory Arctic Drilling
by Steven Thomma

Knight Ridder/Tribune News Service.

Thursday, May 27, 2010

The Obama administration Thursday will suspend planned exploratory oil drilling in the Arctic Ocean off Alaska until at least 2011, a casualty of the Gulf of Mexico oil spill.
http://www.rigzone.com/news/article.asp?a_id=93814&hmpn=1
 
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