Stacy Summary: Oops. Drill, baby, drill, dead in water. Four weeks ago, Obama reversed campaign promise and approved offshore drilling, today he is putting all projects on hold. Update: Morgan Stanley pays $14 million to settle accusations of hiding complex oil trades. There is that word ‘complex’ again and yet again (as per the banana republicanization trend) a select group of oligarchs get to ‘settle’ claims without having to admit guilt or face any real consequence.
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Gold
Maybe Ben Bernanke should try drilling for money offshore… LOL
Karl Denninger
Drill Baby Drill
9:14am EDT
http://market-ticker.denninger.net/archives/2255-Drill-Baby-Drill.html
Dear OBAMA.
Two words. MASS TRANSIT.
You can always dream seing America stopping its unsain obsession with highways, suburbia and cars. Now that would be a miracle. Seing USA becoming japaneese or french and constructing TGV across America. No instead they prefer occupying and pludering Irak.
Drill, baby, drill!!
I hope the silence from the drill, baby, drill crowd means that they’re all heading down to the coast to help prepare for cleanup operations.
I also hope that this douchebag has a massive heart attack and dies sooner rather than later.
Nice, after the calamity..Guess he took the damage cost out of the republicans campaign paychecks..Or he read my blog and digs Perpetualism
http://tinyurl.com/3ac2el2
How much time does drill, baby drill really buy us? A few years? A decade tops? I think it would be much more prudent to accept that our model is unsustainable right now and start building out mass transit right now! I only support drill, baby drill on one condition — and that is if we use the energy proceeds from it to build out mass transit.
I am surprised at Denninger. He does not advocate kicking the can from a government debt standpoint, but completely advocates it on an energy standpoint. I think we should face reality here and now.
“The Keys are wonderful this time of year”
-12 Monkeys
@Mep
More likely soem foreigh creditor is behind it..Knocking out strategic oil supplies makes a lot of sense when dealing with an oncontrolled bully..
Good timing for this to happen, too dangerous to drill offshore for oil, plenty in Iraq and the Middle East !
http://www.youtube.com/watch?v=vUw4A7kwz10
Goldbugs vs Silverbugs
By the way – - – check out the oil price: http://321energy.com/
What’s up with that in the middle of a Great Frigging Depression?
Ironic isn’t it, invaded Iraq for oil and now you Yanks are SWIMMING in it lol
Just a quick aside…
Do you think Goldman Sachs executives will be criminally prosecuted like the execs at Enron? Or is it just wishful thinking?
http://www.foxbusiness.com/story/markets/industries/finance/starts-criminal-probe-goldman-source/
50% MELTDOWN in UK OIL PRODUCTION…..
http://www.theenergyreport.com/cs/user/print/quote/7431?x-t=pub.view
Yeah. That being said, where are you gonna get your oil for your Hummers dear American energy hogs ? Soon to be joined by Chineese energy hogs and Indian energy hogs. I know. It’s all relative. But it’s happening. On planet Mars ? It will soon be the end of suburbia. Los Angeles will not be a pretty picture ten years from now.
@Ingrid – no, they won’t be tried or prosecuted; it’s just a show headline
“I have long supported nuclear power, for example, despite living downwind from Fermi I as a child ”
Denninger would register on a geiger-counter. It explains his perspective. I thought it was about the gallons of ice-cold tea….
By the way – – – check out the oil price: http://321energy.com/
What’s up with that in the middle of a Great Frigging Depression?
Well ya see Stace that’s why I watch yours and Max’s show..I was hoping you’d tell me..
http://en.wikipedia.org/wiki/Enrico_Fermi_Nuclear_Generating_Station
…Say Hi to the Ayatollah of Rockin’ Rolllaaaa for me…Keep up the good work.
@zaphodity – half of it is price rigging as today’s fine against Morgan Stanley can attest to: http://www.miamiherald.com/2010/04/29/1605081/morgan-stanley-pays-14-million.html . .. the rest is supply and demand, which includes peak oil
http://www.youtube.com/watch?v=_TL4XZdyo3g
Why thank-ya Ma’am (tips hat)
Has anyone figured out WHY this rig caught on fire yet?
I couldn’t help but notice that no one has given any detail on that particular little piece of information yet…
Was someone trying to cook Freedom-Fries when suddenly the grease caught fire?
Something doesn’t smell right in this kitchen, if y’know what I mean…
@Stacy
One can dream, hehehe
Anyway, back on target…Oil about to reach Louisiana coast…it’s impact on the wildlife.
http://www.cnn.com/video/?/video/us/2010/04/29/cb.oil.spill.impact.update.cnn
This is probably going to get me banned, but “Drill baby drill” was the funniest adult movie I ever saw. The lead woman looked and acted just like Palin, and the dialog was (truly) well-written.
Just a quick aside…
Do you think Goldman Sachs executives will be criminally prosecuted like the execs at Enron? Or is it just wishful thinking?
They might “patsy” a few small fish but to answer your question…no…This goes WAY up…It’s like trying to remove a brain tumor with surgery by going in through the rectum (scuse’ me ladies)
Why is Stacy NOT talking about Bono?
“Yo, Bono want your palm red?”
Mike
@Warheit
You naughty man.., LOL. I thought that movie was an urban myth.
Oil, porn, rigged gambling…
The only way to make the big bucks, if you don’t mind the carnage you leave behind.
It’s like walking in there and saying “I wan’t good people on that side of the room and scum on the other..what?….Your ALL SCUM” !?!
That 14 million wouldn’t even scratch their “we’ve been naughty” fund…I’m sure they keep a LARGE chunk of change handy for just these types of emergencies…Probably pension funds XD
It’s all probably tax deductible…with inetrest or something
Oh and I forgot to include drugs…
Interesting discussion at Milken institute conference. Steve Forbes vs. Mohamed Elerian
http://www.milkeninstitute.org/events/gcprogram.taf?function=detail&eventid=GC10&EvID=2067
http://www.youtube.com/watch?v=CWuuXpeqNNw
Christ…It’s like a Brown Shirt Nationalist convention.
@Mike
Yeah, where’s Bono now when the Irish peasants are suffering? No-where. Gobshite.
New just in. The spill was apparently caused by the mis-judging of a fire escape from the Denver International Airport (Elite underground bunker project)
We don’t know what precisely caused this accident, but at present it appears that the blowout preventer failed. We do not know why. The blowout preventer is a very large piece of equipment. It is a standard piece of equipment on all wells, and it is a huge piece of equipment on a well like this. It would weigh up to 500 tons, and it is about 18 feet in length. At some point, this piece of equipment, which is standard, this piece of equipment, which is tested every 14 days, as required by law, failed. This actual piece of equipment — this blowout preventer on this rig was actually tested 10 days before this tragic incident, and it passed the inspection.
http://news.tradingcharts.com/futures/0/0/138973700.html
Hmmmm….
And it happened on Hitler’s Birthday, too…
4/20
Coincidence?
BREAK OUT THE TIN-FOIL HATS!!!
@GB
According to the Guardian, “BP recently lobbied hard—and succeeded—against tougher environmental requirements for off-shore drilling, including a remote-controlled switch that if working properly could have stopped the spilling. The device is required by Norway and Brazil, but not the US.”
as seen on TV
‘Better Marriage Blanket’
http://www.youtube.com/watch?v=bM4eJ38S7Hw&feature=player_embedded
@Wahrheit
Watching that movie gets you a job at the SEC
‘This is Alabama, we speak English’
Republican gubernatorial candidate Tim James defends his ‘this-is-Alabama-we-speak-English’ commercial.
http://blog.al.com/breaking/2010/04/tim_james_defends_his_this-is-.html
Yep thats your Republican deregulation kicking in again.
Brilliant indeed. They should never be in power period.
Completely incompetent just like their big business over lords.
Oh and Karl Denninger, why does anyone listen to him anymore?
Maybe the spill happened cause the “front fell off.”
http://www.youtube.com/watch?v=43lBiJIzEPk&feature=PlayList&p=2A0DB8FE22FAE22A&playnext_from=PL&playnext=1&index=34
Oil is natural like granola and half of the equation in a salad dressing.
But it does make a mess of the beaches.
So how about being more careful.
Remember Santa Barbara! No Drilling Off of Our Coast!!!! F*** the Bastards!!
(I remember the Santa Barbara oil spill.)
Ok, I am better now, thanks.
-norcal(native)kid
secede
@ Giuseppi – The explosion may very well be the result of Halliburton’s subprime cementing job:
http://www.huffingtonpost.com/2010/04/30/halliburton-may-be-culpri_n_558481.html
@Bago,…I see ya bud’,. I really do
Bit like a jig saw,…you’ve got to start wif the corners,..and know it makes a big picture,..: )
Oil companies make profits.
The oceans are collateral damage.
The earth is there for us to pillage.
The taxpayer pays for climate change, not the oil companies via cap and trade.
This is the world you live in.
Just a not to those who think they are powerless.
A while ago I complained to the federal government via emails, others got on talk back radio and others sent letters.
But the federal government in Australia has backflipped on its law to make foreign ownership of residential properties easier. They had previously dropped taxes and conditions for foreign house buyers.
This has been a problem for increased house prices here, as well as ‘land banking’ or foreign purchases of land/housing without renting out these properties.
This has contributed to house prices and rents to rise here.
After we all complained, the govt has backflipped on the law and reinstated the taxes and conditions.
It is possible to change things.
Just try.
This probably could have been titled “Too little, too late — Item # 144,634″
US youngsters are too fat to fight, warn generals
http://news.bbc.co.uk/2/hi/americas/8655651.stm
Former generals want Congress to act to give children better food in schools
Rising rates of obesity among young Americans could undermine the future of the US military, two retired generals have warned.
More than a quarter of young Americans are now too fat to fight, they said.
Will the high demand for seafood and the resulting death and destruction of the oceans drive the price into orbit ?
DATA INFO ORIGINS WANTED …
The US has some 88,000 political sovereign entities that are capable of taxing or are already taxing.
– Federal Government
– Federal Entities
Those we know pretty well.
– State Governments and State Entities.
Well known, but still countable and suitable for memorization.
– County, City and Quasi-governmental entities not operating at the state level …
I have no idea.
WHERE DOES THE 88,000 COME FROM?
How has it changed over time, say now vs 1950?
Herein I suspect lies at least one grain of truth as to how the US will handle its long decline. To me 88,000 is way to many as I would expect a number more like 5,500 to 6,200.
Complex (Business speak for ‘fraudulent’) Sounds like a new motor oil..”FRAUDULENT..Now with 80% more methane”
@Mini US
I agree that a certain amount of corruption helps to “oil the wheels of business” but it gets to a point where it starts to become counter productive. The very same corruption they use to “get things moving” can come back and bite you in the arse, like this spill in the Gulf for instance. What’s the bet they cut a few corners getting this rig up and running ? And now look at what the cleanup cost will be let alone the civil lawsuits etc from fishing businesses. With the amount of corruption in the U.S. at the moment it wouldn’t surprise me that this was deliberate and it’ll be spun around somehow to actually make somebody rich ?
Its only the way the world is because people have ALLOWED it to get that way, and have done nothing to stop it.