Posted on 07/11/2010 9:07:10 AM PDT by opentalk
Diamond Offshore announced on Friday that it will be the first company to relocate one of its oil rigs from the Gulf of Mexico to Egyptian waters due to the Obama Administration’s ban on drilling. Chron.com reported:
Diamond Offshore announced Friday that its Ocean Endeavor drilling rig will leave the Gulf of Mexico and move to Egyptian waters immediately — making it the first to abandon the United States in the wake of the BP oil spill and a ban on deep-water drilling.
And the Ocean Endeavor’s exodus probably won’t be the last, according to oil industry officials and Gulf Coast leaders who warn that other companies eager to find work for the now-idled rigs are considering moving them outside the U.S.
Devon Energy Corp. had been leasing the Endeavor to drill in the same region of the Gulf as BP’s leaking Macondo well, which has been gushing crude since a lethal blowout April 20.
But Diamond announced Friday it will lease the rig through June 30, 2011, to Cairo-based Burullus Gas Co., which plans to send the Endeavor to Egyptian waters immediately.
Devon is one of three companies that has cited the deep-water drilling ban in trying to ease out of contracts to lease Diamond rigs. Diamond, a drilling company, said it expects to make about $100 million from the deal, including a $31 million early termination fee it recovered from Devon.
On May 27, President Obama instituted a six-month moratorium on all drilling in water depths greater than 500 feet and stopped work on 33 Gulf deepwater exploration rigs, except under special circumstances. The president’s decision will force tens of thousands of Gulf Coast employees to lose their jobs.
I guess the Luddites are making a comeback. Welcome to the 19th century America, pre industrial revolution.
So 82 days from start of leak and these duds cut and run. BYE!!! Actually was probably planned for months.
Dan Pickering, a financial analyst with Tudor, Pickering Holt & Co. Securities, said the legal uncertainties surrounding the ban - and the administration's plan to issue a new, revised moratorium - ensure that no companies will resume deep-water drilling in U.S. waters anytime soon.
"Are you really going to spend $5 million … getting ready to drill a well that someone would then probably block you from drilling?" Pickering said.
This is a big hit to jobs and economy, Seems like Obama is working for someone else.
I guess you are in the dark about Obama's moratorium on Gulf drilling? Until all the appeals have been exhausted ain't nobody gonna drill out there in the deep water. You'd be a fool to do so. Money down the drain!
Worst President, Ever. Worst Congress, Ever.
and so it begins...
As well as more dependency on foreign oil (like George Soros Brazilian company, for example).
With help from Goldman Sachs, BP's CEO Tony Hayward, Halliburton and other major players . . . Everything stinks to high heaven of rancid conduct and toxic fumes.
It has been reported BP helped write cap and trade bill, BP Sutherland is Chairman of Goldman Sachs International, Goldman Sachs is part of Crime Inc and Chicago climate exchange (Glenn beck)
Before being appointed Chairman, Sutherland was a BP board member from 1995 and also a director from 1990 to 1993, when he resigned to take the top job at the General Agreement on Tariffs and Trade (GATT), the precursor to the WTO.
Sutherland, who is also a financial adviser to the Vatican, remains Chairman of Goldman Sachs International and plans to remain involved in international affairs. He is a passionate advocate of globalisation and the European Union.
Ban Obamao.
Let’s increase the wealth of Middle Eastern States and decrease the wealth of America - precisely what Obama is doing. Goodbye to those jobs - yeah give them to the Egyptians, they need to feel good about themselves, you know how the Muslims are, they are sensitive and unsure of their place in history and it his Obama’s self appointed task to build their self esteem. He has even enlisted NASA to execute on this important function.
He is stupid.
save for later
Dispersants Merely Hide Oil -- Workers Sickened, Ordered Not to Use Protective Gear
As I said before: BP must our government.
ohscumbag and his creatons are snickering and rubbing thier hands together in a dark corner of the room. The generated crisis they have created has begun to bare fruit. They killed an industry, killed thousands of jobs and created thousands of government dependents, killed the fisheries for decades and are now poisoning them and possibly all of us with coexit
Wow. They didn't have drugs like that when I was in college.
"Methane bubble containment"?
In most oil bearing reservoirs, the natural gas is dissolved in the oil. As the pressure drops, any which forms bubbles does so in tiny pore spaces in the rock which makes up the reservoir.
To ressurect a former analogy, fill a glass with marbles. You now have a reservoir, much like the sandstone or fragmental limestone which makes up most of the reservoirs in the world, just larger particles than most, larger pores, and a lot less pressure. To get an idea how bubbles work in a reservoir, pour clear pop in the glass with the marbles. As the pop warms, the carbon dioxide will come out of solution (it was dissolved in the pop) and the bubbles will work their way to the surface. You will also be able to see them in the pore spaces between the marbles.
In some reservoirs, the spaces between the grains of rock are much, much smaller than the space between the marbles, and sudden pressure drops will cause these bubbles to block the flow of liquid through the spaces connecting the pores. THis does not cause an explosion, because the pressure is lower than before, not higher. Instead, this works like the bends in a human, blocking the flow of fluid, and stopping the reservoir from producing (in a human, nitrogen bubbles stop blood from circulating to the affected areas). Although over a long time, the pores near the top of the layer of reservoir rock may be filled more with gas than oil because the gas expands as the pressure drops and pushes the oil out (if you set up your production equipment right), it is still isolated in the pore spaces, and not one contiguous bubble.
Evidence abounds of entire reservoirs having vented to the surface in the past, but as seeps, not expolsive eruptions from 13,000 feet below the surface (in this case, the seabed).
RE: the Canada Free Press article:
I won't argue that there are those who seek to profit immensely from the blowout, from the petty scammers looking to cash in on 'compensation' funds to the Chicago Carbon Exchange players who want to turn their worthless 'carbon credits' into trillions of dollars through the opportunistic passage of legislation or regulations which will require additions to carbon allotments or somesuch, even though the allegedly scientific 'support' for the scheme has been shown to be fraudulent.
Nor do I, as a North Dakotan, underestimate the potential impact such a redistribution of wealth or energy restrictions would have on poorer people who live in areas where winter is potentially lethal in just a few hours, for months at a time. People I have known froze to death when energy was cheap and plentiful, before attempts to regulate how much we use arose.
I believe these parasites are attempting to cash in on a crisis to the great detriment of us all, but I do not believe there is a conspiracy at the root of the disaster. I just think the people trying to exploit that disaster are taking advantage of an opportunity provided by someone's bad judgement and the misfortune of many.
It’s going to be something interesting to see the envirowhackos and their government goonies try to put a positive spin on twenty dollars-a-gallon gas, double-digit prices for even the simplest foodstuff, hundreds of unemployed, etc etc etc.
Couple this, plus the coming inflation, plus government controls to fix a government problem and that’s our future.
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