Tuesday, June 22, 2010


So BP, the regulating authorities, some of the investors and the Obama administration were aware that something was terribly wrong at the Deepwater Horizon site two months before the blowout:

"BP Plc was struggling to seal cracks in its Macondo well as far back as February, more than two months before an explosion killed 11 and spewed oil into the Gulf of Mexico.

It took 10 days to plug the first cracks, according to reports BP filed with the Minerals Management Service that were later delivered to congressional investigators. Cracks in the surrounding rock continued to complicate the drilling operation during the ensuing weeks. Left unsealed, they can allow explosive natural gas to rush up the shaft.

“Once they realized they had oil down there, all the decisions they made were designed to get that oil at the lowest cost,” said Peter Galvin of the Center for Biological Diversity, which has been working with congressional investigators probing the disaster. “It’s been a doomed voyage from the beginning.”

...On Feb. 13, BP told the minerals service it was trying to seal cracks in the well about 40 miles (64 kilometers) off the Louisiana coast, drilling documents obtained by Bloomberg show. Investigators are still trying to determine whether the fissures played a role in the disaster.

...In early March, BP told the minerals agency the company was having trouble maintaining control of surging natural gas, according to e-mails released May 30 by the House Energy and Commerce Committee, which is investigating the spill.

...On March 10, BP executive Scherie Douglas e-mailed Frank Patton, the mineral service’s drilling engineer for the New Orleans district, telling him: “We’re in the midst of a well control situation.”

The incident was a “showstopper,” said Robert Bea, an engineering professor at the University of California, Berkeley, who has consulted with the Interior Department on offshore drilling safety. “They damn near blew up the rig.”

What was their reaction?

"Tony Hayward cashed in about a third of his holding in the company one month before a well on the Deepwater Horizon rig burst, causing an environmental disaster.

Mr Hayward, whose pay package is £4 million a year, then paid off the mortgage on his family’s mansion in Kent, which is estimated to be valued at more than £1.2 million."

"According to regulatory filings, has found that Goldman Sachs sold 4,680,822 shares of BP in the first quarter of 2010. Goldman's sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP's stock during the quarter."
Raw Story

It appears that those in the loop, the government, BP and at least two of its investors knew that the chance of failure at Deepwater were high. Their reaction to this information seems to be to get while the gettin's good, at least on the part of some investors, cover their ass on the part of BP and keep on partying on the part of the administration.

Maybe there wasn't much else they could do; Bp that is. But the government, that's a whole different ball game. If the government knew with a significant amount of certainty, and it appears they did, that we were on the cusp of a platform failure of historic proportions, they should have begun staging emergency equipment and implementing a plan to protect the coast. One of the few powers assigned the federal government in the Constitution is to protect the country. But what was the administration doing? They were focused entirely on health care and getting it shoved down our throats. Instead of fulfilling its basic Constitutional requirement to defend the country, the administration was intent on shredding that same document with their health care power grab.

And now, two months into this unparalleled threat to America and the world, what is the administration focused on? Shutting down oil drilling to further their ideological agenda and get cap and trade passed. They're perfectly happy to have all the various government agencies get in the way of the states in trying to mitigate the damage from the oil while offering very little in the way of solutions. The administration, instead of clearing the decks of useless government red tape so the emergency can be dealt with effectively is sending the Attorney General down to sue BP. Instead of partnering with BP to clean the spill they are extorting money from them and giving clear indication that they will put them out of business.

So while life as we know it slowly bleeds away the guys at the top, the ones with the power and control, are using their time to further consolidate their power and control. The administration is going to starve our economy of the energy it needs to grow and expand while at the same time it is
lending American taxpayers dollars to Petrobras in Brazil to pay for off shore drilling. And as Glenn Beck reported last night, George Soros increased his holdings in Petrobras in February, just about the time the truth about the danger in the gulf began to surface. Soros and the Obama administration, tied together in Brazil. Is it possible that Soros was kept apprised by friends in the administration about Deepwater?

And now it looks as though Brazil may benefit from the rigs idled by the Obama administration in the moratorium on drilling it has imposed.

So America loses more of its supply of energy and countless jobs in the midst of a depression while Brazil, Petrobras and Obama supporter Soros all benefit.

And of course, Soros and his friends, many of whom are part of the Obama administration, would like nothing better than to see the Unites States reduced in power and influence. Are they killing two birds with one stone?

"Petrobras, Brazil’s national oil company, is preparing a $25 billion share issue for July, The Financial Times reported, in a move toward developing its “presalt” fields — so named because they are beneath thousands of meters of sea water, rock and a layer of salt. The fields have the potential of making the South American nation one of the world’s largest oil exporters."
New York Times

So we won't be drilling for oil in America but our demand will still be there. We can't function without oil, and lots of it. It follows that whoever controls the oil controls America.

The Chicago Way writ large.

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