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Market Report: Deepwater Horizon -- Triumph and Tragedy
PFG Best via Rig Zone ^ | Friday, April 23, 2010 | Phil Flynn

Posted on 04/23/2010 12:28:40 PM PDT by thackney

The more you read about the tragedy that is unfolding in the Gulf of Mexico surrounding the Deepwater Horizon oil rig fire, the more you realize the magnitude and the symbolism of what is happening. Obviously the loss of life is a reminder of the risks that those in the oil industry take on a daily basis to bring us products that we take for granted. To a larger extent the history of this rig is a reminder of the type of entrepreneurial spirit that has made this country great. It represent the same type of spirit that Horatio Alger captured in his stories of America, the land of opportunity, or the call from Horace Greeley and John B. L. Soule that urged Americans to go West and grow the country. This accident is a loss that should be felt by us all.

The Deepwater Horizon was a marvel of modern technology. It was what they call an ultra-deepwater dynamic position semisubmersible oil rig. It was the size of two football fields and was like a ship that used a computer controlled system to automatically maintain its position and heading. It was a rig that could reach the bottom of the ocean and the Gulf of Mexico to depths many had never imagined. In September of last year, Deepwater Horizon made history by drilling the deepest oil well in history. This was an achievement not unlike landing a man on the moon or a successful space shuttle. An achievement that in another era would have inspired the passion and the imagination of the nation in a nation that has become accustomed to great achievements. Think about the implications of drilling for oil in an area of the ocean where no man dared drill before. Think of the impact it could have on a world that is not satisfied with surrendering to the sentence of peak oil but to expand our imagination and our desires to overcome the status quo and do what those who think small said was impossible. Instead of surrendering to the prospect that the world and the economy was doomed because of peak oil, there are those who say we have not even begun to tap the earth’s possibilities.

There are other concerns of course. Some fear that this accident will be used by drilling opponents as an example why we should not drill and extend the benefits that off shore drilling to the economy and the health and well being of the human race at large. In fact there was word that BP was about to announce another major discovery at the same site that would have added tens of millions of barrels of oil to the marketplace. In many ways, the Deepwater Horizon was a vessel that deserved the same type to of reverence that is given to the Spirit of St. Louis or Space Shuttle Challenger. This loss is a national tragedy.


TOPICS: News/Current Events
KEYWORDS: deephorz; energy; explosion; offshore; offshoredrilling; oil; oilrig

1 posted on 04/23/2010 12:28:40 PM PDT by thackney
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To: thackney

Think about the implications of drilling for oil in an area of the ocean where no man dared drill before.

Enviromentalist reply:
Think of that pristine ocean floor, undisturbed for centuries, pastoral, quiet, serene, now filled with
holes and cluttered with human debris, the horror, etc.


2 posted on 04/23/2010 12:35:46 PM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: thackney

I wonder if they will be able to find out what happened now that the thing has sunk?


3 posted on 04/23/2010 1:49:06 PM PDT by smokingfrog (Free Men will always be armed with the Truth.)
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To: smokingfrog

Without a doubt, with the loss of a $500,000,000 rig, they will analyze everything they can. I don’t know how much data is continuously sent offship via satellite during operations.


4 posted on 04/23/2010 2:01:21 PM PDT by thackney (life is fragile, handle with prayer)
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To: thackney
What they will/have find/found, is almost what they always find, and then release a cover story.

Somebody decided to lower costs in some area to make them look better to a boss to get a bonus.

Insider blogs and forums already discussing the particulars of this one.

To illustrate one I know about, a bull plug blew out on a high pressure vessel resulting in similar $ loss.

The bull plug is what you unscrew to stick an x-ray prob in to look for cracks and other damage.

Well, during a turn around some well educated idiot 'decided' not to replace it, "we do it next time."

5 posted on 04/24/2010 11:36:35 AM PDT by norraad ("What light!">Blues Brothers)
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To: thackney
Interesting article....how little did I know the significance of this happening....more so of the great achievement of this company. There are so many aspects of our life that comes from turning a switch, grabbing a gas hose to fill our cars, and moving our army to keep freedom alive.......all which are dependent on oil...and far far more.
6 posted on 04/24/2010 11:43:18 AM PDT by caww
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To: norraad
resulting in similar $ loss

Which was that? There have been few that reach this level of cost.

http://home.versatel.nl/the_sims/rig/i-expense.htm

7 posted on 04/24/2010 11:56:21 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

My bet is no oil will reach any damn beach


8 posted on 04/24/2010 11:58:03 AM PDT by dennisw (It all comes 'round again --Fairport)
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To: dennisw

Since the flow of oil is already shut off, I agree.


9 posted on 04/24/2010 12:00:46 PM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

The oil industry knows what’s at stake here....So are making a heroic effort to suck up oil off the water. They know that if it sullies beaches and becomes more visible, this give the eco-kooks some great photo-ops

Right now the mess is far offshore and lets keep it that way


10 posted on 04/24/2010 12:37:35 PM PDT by dennisw (It all comes 'round again --Fairport)
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To: thackney
OK I'm going toss out a little tinfoil....

What if this was deliberate...

The timing is interesting and very opportune for the agenda of "Our Dear Leader" circle of "green" friends...

11 posted on 04/29/2010 7:48:17 AM PDT by tophat9000 (It ain't about Black... It ain't about White...It's about a Red...Trying to take our rights!)
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To: tophat9000

If it only started with an explosion on the rig, that would be possible but still not likely.

But it would be extremely difficult to cause a blowout from the deep reservoir first, then the multiple things that followed to get us to the point we are today.


12 posted on 04/29/2010 8:45:38 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney
Well has it been comfrmed as a well blowout... only detail I had was explosion on unknown origin

Then we have storys of....

"FEDERAL INVESTIGATION: The Obama administration has launched a full investigation of last week's oil rig explosion. Homeland Security Secretary Janet Napolitano and Interior Secretary Ken Salazar say they will devote every available resource to the inquiry.

http://www.dallasnews.com/sharedcontent/dws/news/texassouthwest/stories/DN-oilrigbox_28tex.ART.State.Edition1.4c79fd6.html

Yea I just feel better already...

13 posted on 04/29/2010 9:13:01 AM PDT by tophat9000 (It ain't about Black... It ain't about White...It's about a Red...Trying to take our rights!)
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