Oil Slick Stuff

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05/27/2010 - Updated 10:07 AM ET
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Crude futures rise as China's vote of confidence in euroNatural gas inventories seen increasing 98-102 billion cubic feet
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By Claudia Assis, MarketWatch & Polya Lesova, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures advanced Thursday, extending their as gains into a second session as China denied it was ready to sell euro-zone bonds and as other assets such as stocks also rose.
Crude oil for July delivery added $1.44, or 2.1%, to $72.95 a barrel on the New York Mercantile Exchange. The contract hit an intraday high of $73.67 a barrel according to FactSet Research.
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nnuut said:
US to Toughen Drilling Rules
by Jonathan Weisman & Jeffrey Ball

The Wall Street Journal

Wednesday, May 26, 2010

Inc_DWHoriz_Hdr.jpg

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
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I'm all for that...Should of been that way in the first place..Cept that Obama's MMA was in bed with the OIL boys sliding around between the plastic sheets (too little too late IMO)...Now if it's manged correctly, we can get on with the business at hand and that's reducing or eliminating the need for foreign oil.

DRILL BABY DRILL
 
I always said SAFETY FIRST!!
I would like to read it in it's entirety though.
 
Just WHERE the HELL does the economic outlook look so good, balderdash?:nuts:


Oil rises above $73 amid brighter economic outlook

Oil rises above $73 in Europe on prospects for economic growth in Asia, US


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Kevin Stearns of Oxford, Mass., fills up his pick up truck at a gas station in Milford, Mass., Wednesday, May 26, 2010. Gasoline prices dropped Thursday for the second week in a row, and they'll be pushed even lower as oil prices continue to tumble.(AP Photo/Charles Krupa)

Barry Hatton, Associated Press Writer, On Thursday May 27, 2010, 6:48 am EDT
Oil prices climbed above $73 a barrel Thursday, driven by strong Asian economic growth figures and market anticipation of positive data about U.S. growth prospects.
http://finance.yahoo.com/news/Oil-r...62.html?x=0&sec=topStories&pos=4&asset=&ccode=
 
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Didn't I just read somewhere that Geitner yesterday returned from a trip to China? - I'm sure that we should not be suspisious that many deals were stuck with China, to keep things alfloat (aside from floating in the Gulf). :suspicious:
Sure sounds suspisious though, :confused:.
nnuut said:
05/27/2010 - Updated 10:07 AM ET
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Crude futures rise as China's vote of confidence in euroNatural gas inventories seen increasing 98-102 billion cubic feet
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By Claudia Assis, MarketWatch & Polya Lesova, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures advanced Thursday, extending their as gains into a second session as China denied it was ready to sell euro-zone bonds and as other assets such as stocks also rose.
Crude oil for July delivery added $1.44, or 2.1%, to $72.95 a barrel on the New York Mercantile Exchange. The contract hit an intraday high of $73.67 a barrel according to FactSet Research.
http://markets.usatoday.com/custom/...S&guid={DC88CB52-2C82-42E2-A4D4-9C8937BF0B89}
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Look at them nnutts, bolts, pipes and cables, they need to back off a bit I'd say.:D
 
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This move by your President will force the price of Gasoline to over $5.00 a gallon this summer, after his announcement Crude Oil spiked up over $3.00 a barrel. Many Many job lost in Alaska, Eastern Coast, and Gulf of Mexico states that have been hit hard by the Oil Spill. Now they take the jobs of countless Americans because they don't know what the hell to do. Or is it another Crisis being taken advantage of? What's Next!:cool:
MAY 27, 2010, 3:04 P.M. ET
Obama Pushes for More Regulation, Extends Oil Drilling Moratorium

http://online.wsj.com/article/SB100...0031411598538.html?mod=rss_com_mostcommentart
 
Do you really expect them to let drilling continue after all that's been revealed with this mess? And I don't mean just BP, the whole contracting office at Interior needs to get "top hatted" or "top kilt" and anything they've signed is suspect too. And you think the Administration is supposed to know about oil spill cleanup? They don't know about running steel mills either.
 
Should be an announcement on the final results shortly on CNN.:worried:

BP’s ‘Top Kill’ Mission Stops Flow of

U.S. Coast Guard Administrator Thad Allen announced on Thursday that BP’s “top kill” effort stopped the flow of into the Gulf of Mexico. The Los Angeles Times is reporting that the oil company launched the “top kill” procedure on Wednesday and they pumped enough mud into the gushing well to block oil and gas from pouring out.

http://tothecenter.com/news.php?readmore=12834

Update!! The General announced that they are still pumping mud, it looks promising to start injecting concrete when the pressure reaches zero.
 
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nnuut said:
Should be an announcement on the final results shortly on CNN.:worried:

BP’s ‘Top Kill’ Mission Stops Flow of

U.S. Coast Guard Administrator Thad Allen announced on Thursday that BP’s “top kill” effort stopped the flow of into the Gulf of Mexico. The Los Angeles Times is reporting that the oil company launched the “top kill” procedure on Wednesday and they pumped enough mud into the gushing well to block oil and gas from pouring out.

http://tothecenter.com/news.php?readmore=12834

Update!! The General announced that they are still pumping mud, it looks promising to start injecting concrete when the pressure reaches zero.
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Don't count your chickens before they hatch.

The visual on the well looks exactly the same as it did 24 hours ago.

http://www.bp.com/liveassets/bp_int...local_assets/bp_homepage/html/rov_stream.html

Oil is still gushing into the gulf.

The visual you see at the wellhead right now is still dark brown gushing, and , to the left of the well-head, the hose that puts dispersant into the flow. You are still watching oil, not just "mud" flow out of this well.

We're not there yet.
 
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Update-NYT: Setback delays 'top kill' effort to seal leak
Gulf oil leak becomes biggest spill in U.S. history

msnbc.com news services
updated 21 minutes ago
COVINGTON, La. - BP's attempt to choke off the gusher at the bottom of the Gulf of Mexico appeared to hit a snag Thursday after crews discovered a complication from its "top kill" procedure, the New York Times reported.

BP halted its effort to plug the well when "engineers saw that too much of the drilling fluid they were injecting into the well had escaped along with the leaking crude oil," The New York Times reported. A technician told the newspaper that pumping had to be halted while crew reviewed plans. “We’re still quite optimistic,” he told the New York Times, but cautioned: “It is not assured and its not a done deal yet. All of this will require some time :(
 
James48843 said:
Don't count your chickens before they hatch.

The visual on the well looks exactly the same as it did 24 hours ago.

http://www.bp.com/liveassets/bp_int...local_assets/bp_homepage/html/rov_stream.html

Oil is still gushing into the gulf.

The visual you see at the wellhead right now is still dark brown gushing, and , to the left of the well-head, the hose that puts dispersant into the flow. You are still watching oil, not just "mud" flow out of this well.


We're not there yet.
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Looks the same to me, STOP THAT LEAK!!!!:nuts:
 
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Video:

After delay, BP restarts 'top kill' effort

By the CNN Wire Staff
May 27, 2010 8:14 p.m. EDT

There's no end in sight for the situation in the Gulf of Mexico. Anderson Cooper reports live tonight from the region as BP attempts to stop the leak. Watch "AC360°" tonight at 10 ET on CNN for the latest on stopping the leak.
Venice, Louisiana (CNN) -- BP's much-anticipated attempt to cap its undersea gusher in the Gulf of Mexico, a spill now estimated at twice the size of the Exxon Valdez disaster, was suspended for more than 16 hours before it was restarted late Thursday afternoon, a BP executive said Thursday.
http://www.cnn.com/2010/US/05/27/gulf.oil.spill/index.html?hpt=T1
 
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You know there must be a lot of Oil down there to gush at that kind of pressure (2000 lbs per square inch). The ones in Alaska that are only 150 feet to the seabed, only come up at about 150 Lbs per square inch. Obama has stopped them too, even though this could never happen there. Gotta be mucho Oil in the gulf. IMHO:cool:
 
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