Posted on 06/21/2010 2:32:39 PM PDT by blam
Here's What Oil Industry Insiders Are Gossiping About The Oil Spill
The Mad Hedge Fund Trader
Jun. 21, 2010, 4:13 PM
Over the years, I have invested so much time wildcatting in the oil patch that I will never be wanting for great steaks at Nick & Sam's in Dallas, skyboxes at Cowboys games, and personally signed 8 X 10 glossy photographs of George W. Bush. So to get the skinny on the BP mess, I spent the weekend catching up with old friends who live with a permanent oil stain under their fingernails.
Some of the chatter that came back was amazing. BP has discovered the largest and most powerful well in history, and control of it may be outside existing technology. The previous record gusher was Union Oil Co.'s Lakeview well in Maricopa, California, which spewed out a staggering 100,000 barrels a day at its peak in 1910, and created an enormous oil lake in the central part of the state. Estimates for the BP well now range up to 50% more than that. The pressures at 18,000 feet are so enormous, that drilling two more relief wells might only result in creating two more oil spills.
If Obama doesn't want to take the nuclear option, (click here for my piece), then there will be no other alternative but for the spill to continue until the field exhausts itself or becomes capable, possibly some time next year. This is not the end of the world. Less than 1% of the spilled oil is ending up on the beaches. Watch TV, and that is not 150,000 barrels on the beach in Pensacola, Florida. Most of the crude is being moved parallel to the coast by the current and will eventually end up in the mid-Atlantic
[snip]
(Excerpt) Read more at businessinsider.com ...
Anonymous story by someone who can’t afford an editor. Wow.
While I agree with many of his points, it’s sure not a “reliable source.”
This ole boy sounds like he knows what he is talking about....in stark contrast to gummint jackasses!
Exactly what I have been hearing..the pressure at the wellhead is 20,000 to 70,000 psi and we don’t have the technology to stop it.
Well what are the reliable sources saying about the wellhead pressure...they are saying nothing.
Nope, just go to the Oil Drum website and read realiable information. Pressure in producing formation was measured at 11,800 (approx.) and at the BOP during top kill attempt was 8,300 but is now down to about 4,400.
It is not the well from hell but is one rip snorter.
The technology to kill it we have.
All the speculation is crap.
Why can’t they make a large doom, bury the round wall in the sand and have a large pipe to the surface coming out of it that would for a while be part oil and water but eventually mainly oil. The pressure would be relieved by the oil shooting through the large pipe rather than just having a doom over it trying to cap it. The pressure would bring the oil to the surface so that it can be contained and then moved to storage facilities. Is it possible that there is so much oil that the surplus would crash the oil markets and they do not want oil to become a glut?
Jerry Jones? That you?
You sure know how to ruin a good “sky is falling” thread.
Granted the doom would have to somehow be anchored and this could take time but if we tried it would not have to take that long as these days cities go up almost overnight.
Thanks blam for this. WE sure with to hell and back that they do something and fast, so, many people out of work with the other operaing wells out there because of the ‘green president’. Political, nothing else.
"With a complete loss in the Gulf coast tourism industry we can reasonably expect rental properties to get absolutely hammered. And, if the oil leak is as bad as we hope it’s not then we may very well have hundreds, if not thousands, of miles of destroyed beach front and surrounding properties. The environmental ramifications in terms of dangerous gases and oil covered beaches will lead to even higher delinquency and default rates across the southern United States."
In the event of mass, longer-term evacuations, we could potentially be looking at real estate prices going to Detroit price levels in some areas, which have literally reached $1 on some homes."
I've been trying to get an answer to the question of what would/could occur that would require mass, longer-term evacuations.
Can you answer this question?
“Is it possible that there is so much oil that the surplus would crash the oil markets and they do not want oil to become a glut?”
No, that isn’t the reason. The problem with the large dome is that it would take so long to build it and emplace it. The relief wells will be in place long before that kind of dome.
Some folks are desperate to make more money. If they can hammer down the price on beachfront property as quickly as possible, they can buy and hold for 2 years until the media tells everyone how many properties are for sale on the Gulf at*unheard of* prices.
Or something.
The only thing I could think of is the total and complete collapse of the gulf coast economy would create mass, long term evacuations.
This well will not be the end of the world like many of these doomsayers predict.
Oh BSSSSSSSSS, If was down 4,400 they could shut it off easily...hydraulic actuators operate at 3000 psi.
No, no BS and if you would do more research and read the thousands and thousands of bits of data on the internet you would know why.
But just in case you cannot read with comprehension, here is the reason: During the top kill operation they were afraid to overstress the upper casing, possibly causing a leak at a connection which could lead to a sub-surface blowout. Something nobody wants.
So, if all they had to do is put a valve on it would result in an immedate blowout below the sea floor and then it would be totally uncontrollable until the relief wells were completed. By doing it they way they are at least they can capture a majority of the oil.
Because of the enormous amount of pressure.
later read
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