The environment thread

[Balta1701]

Wondering what the "Worst case scenario for this spill" is? Nightmarish. If the full thing were to blow, you'd have an Exxon-Valdez pouring into the gulf every 2 days. For 3 months.

The worst-case scenario for the broken and leaking well gushing oil into the Gulf of Mexico would be the loss of the wellhead currently restricting the flow to 5,000 barrels -- or 210,000 gallons per day.

 

If the wellhead is lost, oil could leave the well at a much greater rate, perhaps up to 150,000 barrels -- or more than 6 million gallons per day -- based on government data showing daily production at another deepwater Gulf well.

 

By comparison, the Exxon Valdez spill was 11 million gallons total. The Gulf spill could end up dumping the equivalent of 4 Exxon Valdez spills per week.

 

"Typically, a very good well in the Gulf can produce 30,000 barrels a day, but that's under control. I have no idea what an uncontrolled release could be," said Stephen Sears, chairman of the petroleum engineering department at Louisiana State University.

 

...

Kinks in the piping created as the rig sank to the seafloor may be all that is preventing the Deepwater Horizon well from releasing its maximum flow. BP is now drilling a relief well as the ultimate fix. The company said Thursday that process would take up to 3 months.

 

"I'm not sure what's happening down there right now. I have heard there is a kink in what's called the riser. The riser is a long pipe that connects the wellhead to the rig. I really don't know if that kink is a big restriction. Is that really a big restriction? There could be another restriction further down," said LSU's Sears.

 

"An analogy would be if you have a kink in a garden hose. You suspect that kink is restricting the flow, but there could be another restriction or kink somewhere else closer to the faucet.

 

A new leak in that piping was discovered Wednesday, suggesting the erosion is worsening.

 

Sand is an integral part of the formations that hold oil under the Gulf. That sand, carried in the oil as it shoots through the piping, is blamed for the ongoing erosion described by BP.

 

"The pipe could disintegrate. You've got sand getting into the pipe, its eroding the pipe all the time, like a sandblaster," said Ron Gouget, a former oil spill response coordinator for the National Oceanic and Atmospheric Administration.

[Balta1701]

Maybe the oil rig is a lefty conspiracy to get the climate bill to pass. *adjusts tin foil hat*

Dude, you're a full day late.

[BigSqwert]

Dude, you're a full day late.

LOL. I figured some dufus on the right would have made that statement by now.

[Balta1701]

From the last fossil fuel related disaster before this one. Or hell, there was another collapse in KY a few days ago, maybe this is now 3 disasters ago. Hard to keep track.

NPR News has learned that the Mine Safety and Health Administration is one subject of a federal criminal investigation surrounding the explosion of the Upper Big Branch mine in West Virginia three weeks ago -- a disaster that killed 29 miners. The probe also looks at Massey Energy, the owner of the mine.

 

Sources familiar with the investigation say the FBI is looking into possible bribery of employees of the Mine Safety and Health Administration, the federal agency that inspects and regulates mining. The sources say FBI agents are also exploring potential criminal negligence on the part of Massey Energy, the owner of the Upper Big Branch mine.

[Y2HH]

For those keeping score at home, this incident absolutely infuriates me.

 

For once we can stand on the same side of the line. There is no way things like this happen unless corners are cut somewhere in the process of building/maintaining such a rig. This was out of carelessness and cost cutting.

 

I hope BP burns for this.

[Balta1701]

For once we can stand on the same side of the line. There is no way things like this happen unless corners are cut somewhere in the process of building/maintaining such a rig. This was out of carelessness and cost cutting.

Honestly...we'll probably in the end find out that you're right, just because cost-cutting and carelessness is so pervasive...but even if BP had done everything right..what they're doing now is not easy. Because most of the cheap, easily accessible oil is long gone.

 

To find new oil, you have to drill farther and farther from shore, lay longer and longer pipes, drill deeper and deeper, access deeper oil that is at higher pressure, control that pressure all the way to the surface, access oil that is at greater temperature, control the temperature on its way to the surface, do so in environments that are heavily corrosive and subject to huge weather issues, and then have absolutely nothing go mechanically wrong.

 

This is an enormous technical challenge.

 

Edit:

There were somewhere in the neighborhood of 39 well blowouts in the Gulf of Mexico between 1991-2005.

[BigSqwert]

BREAKING NEWS: Large Air Spill at Wind Farm. No threats reported. Some claim to enjoy the breeze.

[lostfan]

I know a person who has a solar cell cell-phone charger. Made by Raytheon, even. They were giving them out to Caltech grads at job interviews.

These weren't solar chargers though, just regular secondary batteries. Solar cell chargers would be pretty sweet, though.

[lostfan]

BP pays a huge dividend (>6%), despite the recent fall in share price, they are currently trading at around a 9 multiple.

 

However, this can be VERY bad for them, as they will be on the hook for all the cleanup costs, and any/all fines incurred. This may decimate their stock as well as force them to cut that hefty dividend. Only time will tell.

 

But as it stands right now, even if the stock goes down, if they don't slash that dividend, that's a 6% annual return, try finding that in any money market, savings account or CD.

My dividends are re-invested since I never touch them. I actually shouldn't even really care about any of this because I'm not really touching those until I'm like 50, 60 years old.

[Y2HH]

My dividends are re-invested since I never touch them. I actually shouldn't even really care about any of this because I'm not really touching those until I'm like 50, 60 years old.

 

You own oil company stocks? This is actually a sector I own none of. I do own energy stocks, but no oil stocks.

 

I never auto-reinvest dividends, I usually take them when the pool up enough and buy a bargain stock rather than sinking more money into a company I already own. It helps with further diversification.

[bmags]

in the next couple months.

 

what has congress acted on that has happened this quickly. I should say the senate, which apparently is the whole congress now.

[Balta1701]

The WSJ is running an estimate that the leak is already at the 1 million gpd level, and that we're a few days away from 1 Exxon-Valdez.

 

At that rate, we'd be talking about 10 or so exxon's in the gulf.

[Balta1701]

A former half-term governor had this to say in reply.

Alaskans understand the tragedy of an oil spill, and we've taken steps to do all we can to prevent another Exxon tragedy, but we are still pro-development. We still believe in responsible development, which includes drilling to extract energy sources, because we know that there is an inherent link between energy and security, energy and prosperity, and energy and freedom. Production of our own resources means security for America and opportunities for American workers. We need oil, and if we don't drill for it here, we have to purchase it from countries that not only do not like America and can use energy purchases as a weapon against us, but also do not have the oversight that America has.

[Balta1701]

BREAKING NEWS: Large Air Spill at Wind Farm. No threats reported. Some claim to enjoy the breeze.

Wind power in Europe is making electricity too cheap.

[Balta1701]

"This rig would not be allowed to operate in the United States of America."

19,999 were not on fire.

[lostfan]

You own oil company stocks? This is actually a sector I own none of. I do own energy stocks, but no oil stocks.

 

I never auto-reinvest dividends, I usually take them when the pool up enough and buy a bargain stock rather than sinking more money into a company I already own. It helps with further diversification.

A long time ago, like in the 50s, my grandfather lost his job but they gave him a decent severance package that had a lot of stocks, I guess there were a lot of industrial companies in it. He left them alone and re-invested all his dividends until he died, then my grandmother didn't do anything with them either, so after 50, 60 years, these companies grew a lot they ended up with a ton more. So my grandmother gives me the BP stocks now and then but she tells me I'm not allowed to do anything other than re-invest, until she dies, then I can do whatever I want (but I'll probably just do what she did).

[Balta1701]

A long time ago, like in the 50s, my grandfather lost his job but they gave him a decent severance package that had a lot of stocks, I guess there were a lot of industrial companies in it. He left them alone and re-invested all his dividends until he died, then my grandmother didn't do anything with them either, so after 50, 60 years, these companies grew a lot they ended up with a ton more. So my grandmother gives me the BP stocks now and then but she tells me I'm not allowed to do anything other than re-invest, until she dies, then I can do whatever I want (but I'll probably just do what she did).

You should keep in mind the fact that the world only has so much oil. By the time we're retiring...

[Balta1701]

[StrangeSox]

My fiance's uncle was b****ing today about that oil spill screwing up his fishing in Florida (he has a boat near Apalachacola).

[Balta1701]

This is the rainiest May in recorded history in Nashville.

 

You read that correct.

[Balta1701]

BP is trying to get people in the Gulf Coast to trade away their right to be part of future litigation in exchange for $5000.

[Balta1701]

Oh, and it seems, thanks to an obscure law that creates a general fund that oil companies can pay into to cover claims...after paying cleanup costs, BP will be on the hook for no more than $75 million in punitive liabilities.

[NorthSideSox72]

Oh, and it seems, thanks to an obscure law that creates a general fund that oil companies can pay into to cover claims...after paying cleanup costs, BP will be on the hook for no more than $75 million in punitive liabilities.

This is flawed in that, much like the bad setup with health care as it stands, that it removes any incentive to perform. The oil companies are backed up by tax money they ALL pay in, so what incentive is there on each oil company to avoid these things?

 

[HuskyCaucasian]

Oh, and it seems, thanks to an obscure law that creates a general fund that oil companies can pay into to cover claims...after paying cleanup costs, BP will be on the hook for no more than $75 million in punitive liabilities.

BP Trying To Get Alabamians To Give Up Right To Sue Over Spill

BP has been offering $5000 payments to residents of coastal Alabama areas, in exchange for essentially giving up their right to sue the oil giant over its deadly Gulf Coast spill, according to the state's attorney general.

 

AG Troy King last night urged BP to stop the effort, and told Alabamians to be wary. "People need to proceed with caution and understand the ramifications before signing something like that," King said, according to the Alabama press.

 

A spokesman for BP told a reporter that the waiver clause had now been removed from the contracts, and that the company won't enforce it in contracts that were previously signed. But King, a Republican, isn't satisfied. He said last night he's still concerned that the process could strip people of their right to sue.

[Balta1701]

BP Trying To Get Alabamians To Give Up Right To Sue Over Spill

3 posts up.