Oil Slick Stuff

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07/29/2010 - Updated 10:09 AM ET
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Oil stages comeback, atop $78, as natural gas keeps surgingEnergy Department's weekly report on gas in storage looms
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By Claudia Assis, MarketWatch & Kate Gibson, MarketWatch

http://markets.usatoday.com/custom/...S&guid={C24728ED-EFDC-405D-8951-8B9153BD5ED4}
 
BP: Removed Storm Plug From Relief Well at Spill Site
by Angel Gonzalez
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Dow Jones Newswires
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Wednesday, July 28, 2010


HOUSTON (Dow Jones Newswires), July 28, 2010
BP said Wednesday that one of its drilling rigs successfully removed a storm plug placed on a relief well at the Deepwater Horizon spill site, and it is preparing to run drill pipe into the well.
The plug was put in place when the company evacuated the site last week to flee a tropical storm. The process of removing it is part of the company's bid to kill the broken Macondo well, which has spewed millions of barrels of oil into the U.S. Gulf of Mexico.
BP will attempt to flood the Macondo well from the top with heavy drilling fluid and cement as early as Sunday, but it also aims to intersect the bottom of the broken well with a relief well in about two weeks. That will help the company ensure the spill has been permanently contained.
BP said on its website that there is no evidence that the broken well doesn't have integrity, which will allow the company to keep the oil and gas shut in with a containment system it installed recently.
Pressure at the well continues to increase slowly, and is about 6,937 pounds per square inch. The company said that currently there is no oil flowing into the ocean.
http://www.rigzone.com/news/article.asp?hpf=1&a_id=96702
 
Mighty oil-eating microbes help clean up the Gulf licklips.gif


AFP/File – People on Panama City beach search for tar balls that might be caused by the oil leak in the Gulf of …

Wed Jul 28, 4:41 pm ET
By JOHN CAREY, environmental writer
Where is all the oil? Nearly two weeks after BP finally capped the biggest oil spill in U.S. history, the oil slicks that once spread across thousands of miles of the Gulf of Mexico have largely disappeared. Nor has much oil washed up on the sandy beaches and And the small cleanup army in the Gulf has only managed to skim up a tiny fraction of the millions of gallons of oil spilled in the 100 days since the Deepwater Horizon rig went up in flames.
So where did the oil go? "Some of the oil evaporates," explains Edward Bouwer, professor of environmental engineering at Johns Hopkins University. That’s especially true for the more toxic components of oil, which tend to be very volatile, he says. Jeffrey W. Short, a Oceana, told the New York Times that as much as 40 percent of the oil might have evaporated when it reached the surface. High winds from two recent storms may have speeded the evaporation process.
[Photos: Latest from the Gulf oil spill]
[Related: 100 days of oil: Gulf life changed for good]
Although there were more than 4,000 boats involved in the skimming operations, those cleanup crews may have only picked up a small percentage of the oil so far. That’s not unusual; in previous oil spills, crews could only scoop up a small amount of oil. "It’s very unusual to get more than 1 or 2 percent," says Cornell University ecologist Richard Howarth, who worked on the Exxon Valdez spill. Skimming operations will continue in the Gulf for several weeks.

Some of the oil has sunk into the sediments on the . Researchers say that’s where the spill could do the most damage. But according to a report in Wednesday’s New York Times, "federal scientists [have determined] the oil [is] primarily sitting in the and not on the sea floor."

Perhaps the most important cause of the oil’s disappearance, some researchers suspect, is that the oil has been devoured by microbes. The lesson from past spills is that the lion’s share of the cleanup work is done by nature in the form of oil-eating bacteria and fungi. The microbes break down the hydrocarbons in oil to use as fuel to grow and reproduce. A bit of oil in the water is like a feeding frenzy, causing microbial populations to grow exponentially.

Typically, there are enough microbes in the ocean to consume half of any oil spilled in a month or two, says Howarth. Such microbes have been found in every ocean of the world sampled, from the Arctic to Antarctica. But there are reasons to think that the process may occur more quickly in the Gulf than in other oceans.[more]
http://news.yahoo.com/s/ynews_excl/ynews_excl_sc3270
 
I hope they are right!:D

BP Oil Spill: Has Environmental Damage Been Exaggerated?



    • AFP/File – The sun sets over an oil platform waiting to be towed out into the Gulf of Mexico at Port Fourchon in …
By MICHAEL GRUNWALD / PORT FOURCHON, LA. Michael Grunwald / Port Fourchon, La. – 37 mins ago


"The scientists I spoke with cite four basic reasons the initial eco-fears seem overblown. First, the Deepwater oil, unlike the black glop from the Valdez, is unusually light and degradable, which is why the slick in the Gulf is dissolving surprisingly rapidly now that the gusher has been capped. Second, the Gulf of Mexico, unlike Alaska's Prince William Sound, is very warm, which has helped bacteria break down the oil. Third, heavy flows of Mississippi River water have helped keep the oil away from the coast, where it can do much more damage. And finally, Mother Nature can be incredibly resilient. Van Heerden's assessment team showed me around Casse-tete Island in Timbalier Bay, where new shoots of Spartina grasses were sprouting in oiled marshes and new leaves were growing on the first black mangroves I've ever seen that were actually black. "It comes back fast, doesn't it?" van Heerden said."

Read the whole article:
http://news.yahoo.com/s/time/20100729/us_time/08599200720200
 
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US House Set to Vote on Offshore-Drilling Overhaul
by Siobhan Hughes
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Dow Jones Newswires
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Friday, July 30, 2010
The U.S. House of Representatives is set to vote Friday on remaking the entire offshore-drilling system, setting up a fight over how far the government should go in removing support for the industry and instituting new safeguards following the Gulf oil spill.
Democrats from outside of oil-producing states are pushing the legislation, the first chamber-wide response to the BP oil spill. The disaster has damaged Gulf Coast tourism and fishing, and harmed wetlands and wildlife. But oil-state Democrats are breaking with their caucus to join Republicans in warning that response goes too far and will put independent oil and gas producers out of business.
"I'd like to support the bill, but I can't do it," said Rep. Gene Green (D., Texas). "It would stop most of our independents from being able to drill." He said that "about 30" Democrats are opposed. [more]
http://www.rigzone.com/news/article.asp?a_id=96842&hmpn=1
 
08/02/2010 - Updated 6:03 AM ET
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Crude gains as U.S. stock futures rally on strong earnings Traders await U.S. manufacturing data, comments from Fed Chairman Bernanke
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Crude-oil futures gained early Monday to trade near $80 a barrel, as rallying global equity markets boosted sentiment and prompted traders to buy crude. [more]
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B1EEB8336%2DF7D7%2D4389%2DABD7%2D78BDB1D02DC8%7D&loc=interstitialskip
 
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BP gears up for two-phase effort to plug Gulf oil well

By the CNN Wire Staff
August 2, 2010 8:47 a.m. EDT


New Orleans, Louisiana (CNN) -- One of two efforts to seal the ruptured BP oil well in the Gulf once and for all could begin as early as Monday night, officials said.
The "static kill" involves pouring mud and cement into the well from above -- a process that had been delayed while debris from a tropical storm was cleared out.
"I do have a lot of confidence we'll be successful," Doug Suttles, the oil giant's chief operating officer, said Sunday.
It will be followed by a final "bottom kill" after a relief well intercepts the crippled well -- a step estimated to start about five to seven days after the static kill is complete.
However, federal officials remain cautious.
The government point man on the Gulf oil spill last week warned against elevated optimism.
"We should not be writing any obituary for this event," said Thad Allen, a retired Coast Guard admiral. [more]
http://www.cnn.com/2010/US/08/02/gulf.oil.spill/index.html?hpt=T1
 
UP UP on HOPES of higher demand, do I smell something? CROOKS!!:mad:

08/02/2010 - Updated 1:24 PM ET
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Crude on multi-month high on hopes of increased demand A close above $80 would be highest since early May
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By Claudia Assis, MarketWatch & Polya Lesova, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures rallied more than 3% Monday to trade above $81 a barrel, as rising global equity markets boosted sentiment and highlighted hopes of increased energy demand. [more]
http://markets.usatoday.com/custom/...-4389-ABD7-78BDB1D02DC8}&loc=interstitialskip
 
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Gas has been bouncing between $2.52 to $2.56 for the last couple of weeks..I see it topping $2.60 by week's end..:mad:
 
Someone wants the price UP and it looks like they will get what they want.
 
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08/03/2010 - Updated 11:45 AM ET
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Oil trades above $82 with inventories data on deckFirst round of data on stockpiles slated for Tuesday, decline seen
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By Claudia Assis, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures made a fresh 12-week high Tuesday, rising as the dollar remained weaker and traders awaited the first batch of inventories data. [more]
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BA3D36AE2%2D29C8%2D44B5%2D9540%2DAA497252CF45%7D
 
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:D:D:D:D

BP: Blown-Out Gulf Well Is in 'Static Condition'


Published August 04, 2010
Associated Press

ON THE GULF OF MEXICO -- In a significant step toward stopping the worst offshore oil spill in U.S. history, BP said Wednesday mud that was forced down its blown-out well was holding back the flow of crude in the Gulf of Mexico and it was in a "static condition."
Workers stopped pumping mud in after about eight hours of their "static kill" procedure and were monitoring the well to ensure it remained stable, BP said.
"The well pressure is now being controlled by the hydrostatic pressure of the drilling mud, the desired outcome of the static kill procedure," the company said in a statement.
BP spokeswoman Sheila Williams said, "It's a milestone. It's a step toward the killing of the well."
The next step would be deciding whether to cement the well, Williams said. [more]
http://www.foxnews.com/us/2010/08/04/bp-says-static-kill-gulf-successful/
 
Buster said:
Man that's wonderful news..Also looks like Key West was spared the big oil slick earlier predicted by novice ocean current chart makers...
Click to expand...
Just got back, had to get a new pump for the swimming pool! $$$$$$ Instillation in progress but the heat ran me inside! 95 here right now.:sick: mechanic.jpg
Let's hope so, it will probably settle, get eaten by microbes and evaporate before it gets there.:)
 
Crude stages comeback after deeper inventories draw
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By Nick Godt, MarketWatch & Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude futures rebounded Wednesday, turning higher as optimism surrounding a larger-than-expected decrease in oil inventories seemed to supersede worries about surprise builds in oil products such as gasoline.
Crude oil for September delivery added 36 cents, or 0.5%, to $82.89 a barrel on the New York Mercantile Exchange. Oil had made brief forays into positive territory before, but it hadn't stuck.
The Department of Energy's Energy Information Administration reported a decline of 2.8 million barrels for the week ended July 30. That compares with expectations of a decline around 1.2 million barrels.
The EIA reported gasoline stocks rose 700,000 barrels, which compares with expectations of a decline around 870,000. Stocks of distillates increased 2.2 million barrels, the EIA said. Analysts surveyed by Platts had expected a rise of 1.2 million.
The report was mixed, said Tim Evans, an analyst with Citigroup's Citi Futures Perspectives, in a note to clients.
Crude stocks fell on sharply lower imports and an unexpected increase in refinery runs, but the jumps for distillates and gasoline aren't being matched by higher demand, he said. Moreover, the bearish gain in gasoline stocks was counter-seasonal, he added.
Reformulated gasoline for September delivery also reverted to gains, most recently up a penny to $2.21 a gallon. Heating oil, a distillate, for September delivery also added a penny, or 0.3%, to $2.21 a gallon.
Oil has rallied this week, hitting a fresh 12-week high on Tuesday. Prices got their first try at staying positive after a report showed an expansion for the services sector in the U.S., but quickly moved back to the red.
Futures had also pared losses after payroll processor ADP said that U.S. private-sector employment increased by 42,000 in July. .
The increase was "more than expected and has helped buoy oil prices," according to Mike Fitzpatrick, energy analyst at MF Global. "As a harbinger of U.S. payrolls, to be reported Friday, it suggests that with employment growing, a positive effect on energy demand growth may be subsequently anticipated."
Meanwhile, the dollar, which stayed weaker earlier on the week and had helped oil rally, was stronger on Wednesday. The dollar index [DXY] , which compares the U.S. unit to a basket of six other currencies, rose 0.4% to 80.94 on the day.
http://markets.usatoday.com/custom/...S&guid={B8410A9A-654B-47F7-A2ED-C1AFF0D68AFD}
 
Just got back from a trip through UT, WY, MT and ID. Gas prices ranged from $2.699 in Kingman AZ to $3.269 for midgrade in McGill NV. That was the only choice in Mcgill and though I thought I could make it in to Ely for the relative bargain of $3.169, the tension from the passenger seat was eased somewhat by getting 2 gallons. Maybe a good thing, counting the 2 gallons, I put 20.8 gallons in an advertised 21 gallon tank in Ely. Might not have made that last 12 miles.:notrust:

My wife's Honda Pilot got a truly disappointing 23+ mpg on this trip. That's about the same as my 01 4x4 Dakota gets on the highway.

Gas in Phoenix is $2.719 today.
 
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