thestatedtruth.com | August 18, 2010
This chart from Deutsche Bank, which appeared in U.S. Global’s weekly Investor Alert, shows the progression of China’s crude oil imports going back to 2002. As you can see, the trend—represented by the red annual average lines—shows that China is importing three times more crude than eight years ago to support its economic growth. [...]
thestatedtruth.com | August 14, 2010
The Gulf Oil Spill Disaster By John Mauldin August 13, 2010 From Unmitigated Disaster to Merely Disaster First, let’s begin with the “good” news. The ecological destruction that was first feared is not going to be as bad as once thought, for a variety of reasons. It is not good, but it [...]
thestatedtruth.com | August 13, 2010
Alabama is suing BP Plc and Transocean for damages sustained from the Gulf of Mexico oil spill, the state’s attorney general said on Friday. “We are making this claim because we believe that BP has inflicted catastrophic harm on the state,” attorney general Troy King told Reuters. “We are suing them for the amount it [...]
thestatedtruth.com | August 12, 2010
The Oil Spill August 12, 2010 It has been over three months since the beginning of the oil spill in the Gulf of Mexico. Since then it has cost billions of dollars in terms of lost jobs, tourism, and the battering that local fishing industries have had to endure. At Cumberland Advisors, we have written [...]
thestatedtruth.com | August 8, 2010
Can we believe them! British Petroleum announced that a test on the cementing operation needed to plug its well in the Gulf of Mexico was successful.
thestatedtruth.com | August 4, 2010
Well plugged…..Let’s hope so. ON THE GULF OF MEXICO — In a significant step toward stopping the worst offshore oil spill in U.S. history, BP said Wednesday mud that was forced down its blown-out well was holding back the flow of crude in the Gulf of Mexico and it was in a “static condition.” There is [...]
thestatedtruth.com | August 3, 2010
By Jim Polson and Katarzyna Klimasinska – // Aug 3, 2010 BP Plc started plugging its Gulf of Mexico oil well with drilling mud, another step in the company’s effort to permanently seal the source of history’s worst accidental oil spill. BP began pumping mud into the top of the well for its “static kill” [...]
thestatedtruth.com | July 24, 2010
About 31 percent of U.S. oil output and about 10 percent of gas production, comes from the Gulf of Mexico according to the Energy Department By Dan Hart – Jul 24, 2010 Bonnie has degenerated to a “disorganized area of low pressure” near the U.S. Gulf Coast, hours after the National Hurricane Center lifted [...]
thestatedtruth.com | July 22, 2010
www.ingerletter.com
thestatedtruth.com | July 22, 2010
* Louisiana declares state of emergency * U.S. officials evaluating whether to evacuate area Thu Jul 22, 2010 By Kristen Hays and Anna Driver HOUSTON, July 22 (Reuters) – BP Plc (BP.L) (BP.N) oil spill workers in the Gulf of Mexico prepared for a possible evacuation on Thursday as a tropical storm threatened [...]
thestatedtruth.com | July 20, 2010
www.ingerletter.com
thestatedtruth.com | July 20, 2010
Interesting happenings between U.S. government and BP………….A standoff between BP and the US government over the handling of the stricken Macondo well in the Gulf of Mexico continued with a sharp exchange of words over the best way to keep the oil contained . At the heart of the dispute is anxiety about what is [...]
thestatedtruth.com | July 19, 2010
July 19, 2010 . By Carly Porter AccuWeather.com Staff Writer . A well-developed tropical wave currently bringing strong winds and rough seas north of Puerto Rico could develop into a tropical system by the weekend. According to AccuWeather.com hurricane meteorologist Dan Kottlowski, there is high potential for this tropical wave to evolve [...]
thestatedtruth.com | July 18, 2010
Must listen interview of Matt Simmons. Absolutely a must listen interview. He is not sure a trillion dollars will be enough to clean up the Gulf! Simmons thinks British Petroleum is a dead company walking. http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/7/17_Matt_Simmons.html
thestatedtruth.com | July 17, 2010
Generally very good news out of the Gulf of Mexico….Bloomberg says the well is capped successfully, AP says looking much better, but still puzzling readings from busted well. BP Says Cracks in Well Head Still Possible As Cap Test Goes On But Are Encouraged. Bloomberg 07-17-2010 BP Plc said tests on its Macondo well show no [...]
thestatedtruth.com | July 15, 2010
Interesting comments from Matt Simmons…..must hear interview from msnbc today Thursday, July 15, 2010…….so what’s really going on in the Gulf of Mexico? Matthew Simmons, founder and chairman emeritus of Simmons & Company International, is a prominent oil-industry insider and one of the world’s leading experts on the topic of peak oil. Simmons was [...]
thestatedtruth.com | July 15, 2010
From→ Washington’s Blog 7-15-2010 BP has succeeded in capping the well and stopping oil from flowing into the Gulf of Mexico … at least temporarily. The official Deepwater Horizon Response Twitter feed noted as of a couple of minutes ago: Update: NO OIL FLOWING INTO THE GULF As of this writing, Skandi ROV 2′s [...]
thestatedtruth.com | July 14, 2010
So who does one believe in this situation……. Submitted by George Washington on 07/14/2010 Admiral Thad Allen just announced that the well integrity test has gotten a green light. The test has already started. As I noted yesterday, BP suspended the “top kill” operation for 16 hours – because, according to numerous experts, it [...]
thestatedtruth.com | July 13, 2010
By Jim Polson and Jessica Resnick-Ault Jul 13, 2010 BP Plc plans to start testing today on a new cap over its leaking Gulf of Mexico well to determine whether it can stop the largest U.S. oil spill in history while continuing work on a permanent plug. Starting about noon local time, a 40-foot (12-meter) [...]
thestatedtruth.com | July 10, 2010
BP removes old cap; oil runs free as new cap is prepared…….Let’s hope this works. With British Petroleums record, we wouldn’t want to be in their shoes. Engineers began work Saturday on installing a new, tighter-fitting containment cap for the Gulf spill. They removed the old cap, which temporarily means oil is gushing out unabated. [...]
thestatedtruth.com | July 7, 2010
Wednesday Jul. 07, 2010 By JEFF DONN and MITCH WEISS – Associated Press Writers Leading environmental groups and a U.S. senator on Wednesday called on the government to pay closer attention to more than 27,000 abandoned oil and gas wells in the Gulf of Mexico and take action to keep them from leaking even more [...]
thestatedtruth.com | July 7, 2010
Benzene is an organic chemical compound with the molecular formula C6H6. It is sometimes abbreviated Ph–H. Benzene is a colorless and highly flammable liquid with a sweet smell and a relatively high melting point. Because it is a known carcinogen, its use as an additive in gasoline is now limited, but it is an important [...]
thestatedtruth.com | July 6, 2010
WHAT WE KNOW ABOUT BP DERIVATIVES: CSO (Credit Synthetic Obligations) A study by Moody’s outlines that a BP bankruptcy would impair 117 Collateralized Synthetic Obligations (CSOs), which would lead to pervasive losses by a broad range of holders. The 117 effected is a startling 18% of the total CSOs outstanding, which is an indication of [...]
thestatedtruth.com | July 6, 2010
thestatedtruth.com | July 5, 2010
The oil spill in the Gulf of Mexico has so far cost BP $3.12 billion. This, according to British Petroleum, is the total amount to contain the spill and clean it up. But….. does not include business claims.
thestatedtruth.com | July 4, 2010
President Obama looks like, well, you get the picture! And you can stick a fork in BP, its done. ………..Here are some interesting comments from Cumberland. The Sarasota fishmonger on Lemon St. now gets his shrimp from Sanibel. Louisiana is dead for years, he said. It will not come back in my lifetime. $20 billion is too [...]
thestatedtruth.com | June 28, 2010
Here is the latest Gulf oil map……….. www.ingerletter.com
thestatedtruth.com | June 27, 2010
The Pentagon has now confirmed that a fleet of 12 warships has passed the Suez Canal, and is now likely awaiting orders to support the escalation in the Persian Gulf. We can’t be sure if the following is all true, so we would caution readers to view this news cautiously. We should point out that according to [...]
thestatedtruth.com | June 26, 2010
This may be the first sign of good luck in a while for the massive oil problem in the Gulf of Mexico! By Dan Hart and Brian K. Sullivan Jun 26, 2010 Tropical Storm Alex bore down on the coast of Belize and the Yucatan Peninsula today, and may spare BP Plc‘s efforts to contain [...]
thestatedtruth.com | June 24, 2010
Gene Inger……of the ingerletter.com Remember my comment about BP wanting to drill in 500 ft. not 5000 feet Gulf depth? Turns out that everyone (even the Pentagon and Secretary of Energy and the Pres. as well) signed-off on deep drilling. Their logic was self-sufficiency in-event war came with Iran and we needed nearly 8-10 months [...]
thestatedtruth.com | June 24, 2010
Sounds like the same thing Matt Simmons said a week ago! Quotes – Former Shell CEO John Hoffmesiter June 23, 2010… If you really want to stop a blowout the fastest way the most efficient way is you blow it in, you use explosives. 1:00 Hoffmesiter: Now the problem with that, that is [...]
thestatedtruth.com | June 24, 2010
London, UK A new and less well known asymmetric threat has surfaced in the Gulf of Mexico oil gusher. Methane or CH4 gas is being released in vast quantities in the Gulf waters. Seismic data shows huge pools of methane gas at the location immediately below and around the damaged “Macondo” oil well. Methane is [...]
thestatedtruth.com | June 24, 2010
Methane in Gulf “astonishingly high”: U.S. scientist (Reuters) – As much as 1 million times the normal level of methane gas has been found in some regions near the Gulf of Mexico oil spill, enough to potentially deplete oxygen and create a dead zone, U.S. scientists said on Tuesday. Texas A&M University oceanography professor John [...]
thestatedtruth.com | June 23, 2010
From Reuters: Interior Secretary Ken Salazar will offer testimony later on Wednesday on why the government will appeal that ruling and seek to renew the ban. The ban was imposed after a well operated by British oil company BP exploded on April 20 and began spewing crude into the sea. “We see clear evidence every [...]
thestatedtruth.com | June 23, 2010
Something Broke: Containment Cap Removed From BP Oil Leak After Problems Encountered; Large Increase In Spill Rate…… By Tyler Durden on 06/23/2010 The U.S. Coast Guard said there may be 2 deaths, but the oil flow is not completely unrestrcited, and some oil was being burned off on the surface. More at: www.zerohedge.com Click on image for [...]
thestatedtruth.com | June 22, 2010
I guess we could say CalPERS (California Public Employees’ Retirement System) is just plain unlucky….either that or they’re plain stupid. Maybe a little of both. After dropping a quarter of the value (and that’s being generous, it may be greater) of its $200-billion portfolio during the recession of 2008 and 2009, the country’s largest public pension fund is [...]
thestatedtruth.com | June 22, 2010
Jun 22, 2010 Reuters reports that United States District Judge for the Eastern District of Louisiana Martin Feldman on Tuesday ruled against the Obama administration’s 6-month moratorium on deepwater drilling in the wake of the .Deepwater Horizon explosion and ongoing gush of oil into the Gulf of Mexico…… To read more on this subject, click [...]
thestatedtruth.com | June 20, 2010
By oilflorida, June 20th, 2010 Bill Gale, an engineer specializing in fires and explosions on oil rigs who is part of Bea’s Deepwater Horizon Study Group, said the 16-inch wide casing contains disks that are designed to relieve pressure if necessary. If any of those disks popped, it could create undesirable new avenues for [...]
thestatedtruth.com | June 20, 2010
BP document…. “If BOP and wellhead are removed and if we have incorrectly modeled the restrictions the rate could be as high as 100,000 barrels per day up the casing or 55,000 barrels per day up the annulus (low probability worst cases).” ….. “This number is in sharp contrast to BP’s initial claim [...]
thestatedtruth.com | June 20, 2010
Everyone should read this! Cumberland Advisors Oil Slickonomics Part 8 – Chemotherapy in the Gulf of Mexico June 20, 2010 “Plaquemines Parish President Billy Nungesser was out on Terrebone Bay at the break of dawn with his new industrial strength, compressed air-powered vac. Within 15 minutes, he said his crews had [...]
thestatedtruth.com | June 19, 2010
More ships are on the way…… Sometime in the next 10 days, the Helix Producer processing ship is due to arrive on the scene – and start pumping up 20,000 to 25,000 barrels (840,000 to 1.05 million gallons) of oil daily from yet another line connected to the Gulf of Mexico well’s broken blowout preventer. [...]
thestatedtruth.com | June 19, 2010
Can burning oil be ‘environmentally friendly’? At current crude-oil prices, that burn rate suggests that $700,000 worth of petroleum is going up in smoke every day. Admittedly, it’s not your usual “smoke.” BP is using in a smokeless atomizing burner that is supposed to be more environmentally friendly than the usual equipment. However, the EverGreen [...]
thestatedtruth.com | June 19, 2010
Greenpeace via Reuters A ship sprays water on a burner that disposes of oil and natural gas brought up from a leaking well in the Gulf of Mexico. The good news is that more than a million gallons of leaking oil are now being captured every day from the broken Gulf of Mexico well. The [...]
thestatedtruth.com | June 17, 2010
#1) Barack Obama has authorized the deployment of more than 17,000 National Guard members along the Gulf coast to be used “as needed” by state governors. So what are all of these National Guard troops going to be doing exactly? Are the troops going to be used to stop the oil or to control the [...]
thestatedtruth.com | June 17, 2010
Submitted by George Washington 06/17/2010 → Washington’s Blog The Deepwater Horizon blew up on April 20th, and sank a couple of days later. BP has been criticized for failing to report on the seriousness of the blow out for several weeks. However, as a whistleblower previously told 60 Minutes, there was an accident [...]
thestatedtruth.com | June 16, 2010
thestatedtruth.com | June 16, 2010
thestatedtruth.com | June 16, 2010
Bloomberg — Matthew Simmons, founder of the Ocean Energy Institute, talks with Bloomberg’s Lori Rothman about BP Plc’s oil leak in the Gulf of Mexico and his view that the use of a “small-bore nuclear device” is now the “only option” to stop the flow of oil. Listen to this news interview……unbelievable. Click below: http://video.godlikeproductions.com/video/Simmons_Says_Nuclear_Device_Only_Option_to_Stop_Oil_Flow
thestatedtruth.com | June 16, 2010
From Jeff Rense.com ……………… The magnitude and impact of this disaster will eclipse anything we have known in our life times if the worst or even near worst happens… Contrary to what most of us would think as logical to stop the oil mess, actually opening up the gushing well and making it gush more [...]
thestatedtruth.com | June 16, 2010
So much for PEAK oil, we scooped this days ago, now the U.S. government is raising its numbers, it may well be the largest oil well in the history of the world, who would have thunk it! “This is a phenomenal formation that they drilled into.” said Ian MacDonald, an oceanographer at Florida State University….Exceptional Gulf of Mexico [...]
thestatedtruth.com | June 16, 2010
Jun 16, 2010 Oil giant BP (BP) said Wednesday it agreed to set aside $20 billion as part of its commitments to compensate victims of the Gulf oil spill. BP will initially make payments of $3 billion in the 3rd’Q and $2 billion in the 4th’Q. These will be followed by a payment of $1.25 [...]
thestatedtruth.com | June 14, 2010
Woha……..This is heavy reading on the Gulf of Mexico oil blowout if TRUE! The disaster has a real potential cost of at least $1,000 billion ($1 trillion). According to the Washington report of Madsen, BP statements that one of the leaks has been contained, are pure public relations disinformation designed to avoid panic and demands [...]
thestatedtruth.com | June 14, 2010
Rick’s Picks Monday, June 14, 2010 “Phenomenally accurate forecasts” We’ve railed at traders and speculators recently for their arrogant and sometimes breathtaking stupidity in failing to discount an onslaught of world-shattering news. If the dolts, rubes, bozos and mountebanks who have kept stocks afloat even remotely understood what has been going on in this world, we wrote here recently, [...]
thestatedtruth.com | June 10, 2010
We have (2) options according to Oil expert Matthew Simmons. British Petroleum could be bankrupt over one bad drill hole! Everyone should click on the link below and listen to this informative CNBC video interview of Matthew Simmons! He says that this is the worst oil disaster ever. Joe Weisenthal The Houston energy banker [...]
thestatedtruth.com | June 7, 2010
By Tyler Durden on 06/07/2010 Update: The pipe belongs to Enterprise Products Partners LP. Bloomberg reports: “Enterprise Products Partners LP shut a portion of its 36-inch natural gas pipeline after the line was struck by a fire. The line stretches from Waha in West Texas to the Carthage Hub in Panola, Rick Rainey, a company [...]
thestatedtruth.com | June 6, 2010
This article is long, but something that everyone should read. The effects and costs of the Gulf of Mexico oil disaster will be staggering to the states involved and to the U.S. economy in general. June 6, 2010 “The oil industry’s experience base in deep-water well control is limited.” A massive oil spill “could easily [...]
thestatedtruth.com | June 4, 2010
By Jim Polson and Jessica Resnick-Ault June 4 (Bloomberg) – BP Plc may be able to capture more than 90 percent of the oil leaking from its Gulf of Mexico well with the cap it put in place last night. “I’d like to see us capture 90-plus percent of this flow,” Doug Suttles, BP’s [...]
thestatedtruth.com | June 3, 2010
By WILLIAM J. BROAD Published: June 3, 2010 The chatter began weeks ago as armchair engineers brainstormed for ways to stop the torrent of oil spilling into the Gulf of Mexico: What about nuking the well? Energy Secretary Steven Chu is not considering a bomb. Decades ago, the Soviet Union reportedly used nuclear blasts [...]
thestatedtruth.com | May 31, 2010
thestatedtruth.com | May 31, 2010
Are we coming closer to WW III……it would appear so! By Tyler Durden on 05/30/2010 Even as futures are feeling buoyant as a result of the JPY drop following the collapse of the Japanese ruling coalition (which in itself will likely spell serious JGB troubles in the days ahead), Middle-east geopolitical issues have once resurfaced… [...]
thestatedtruth.com | May 31, 2010
Memorial Day Weekend, May 31, 2010 “The fact that neither the government nor the public sector was prepared for the blowout of the British Petroleum rig indicates a profound failure of planning, execution and regulation. While Congress and others look for individual causes and scapegoats, the truth is that this was a systemic failure [...]
thestatedtruth.com | May 30, 2010
May 30 (Bloomberg) — BP Plc said it will seek to contain a majority of oil gushing from its Gulf of Mexico well with a new tactic to plug the leak as a White House adviser said the U.S. is now telling the company “what to do.” The company encountered “too much flow” and the [...]
thestatedtruth.com | May 29, 2010
BP said its latest effort to plug a mile-deep oil and gas gusher in the Gulf of Mexico with drilling fluids has failed in stemming the flow of hydrocarbons. We now have another outlier event unfolding. By Tyler Durden on 05/29/2010 In his May 28th interview with Bloomberg’s Mark Crumpton and Lori Rothman, Matt [...]
thestatedtruth.com | May 28, 2010
WASHINGTON – BP’s chief executive cautioned Friday that it will be two more days before anyone knows if the latest fix attempt will stop the oil spewing into the sea, and President Barack Obama arrived on the Gulf Coast to tell residents they are not alone in dealing with it. The New York Times reported [...]
thestatedtruth.com | May 28, 2010
Rick’s Picks Friday, May 28, 2010 “Phenomenally accurate forecasts” We may all be breathing a sigh of relief by the time you read this, but it remained uncertain at press time whether British Petroleum’s efforts to plug a massive oil leak in the Gulf of Mexico would succeed. Earlier in the day, the company [...]
thestatedtruth.com | May 27, 2010
Oil Slickonomics – Part 5 – Chutzpah May 27, 2010 “Any and all injury, loss, destruction and damage arising out of or related to the above described casualty event was not caused or contributed to by any fault, negligence or lack of due care on the part of Petitioners…” This was excerpted from the [...]
thestatedtruth.com | May 24, 2010
May 24, 2010 “The most recent satellite imagery indicates that the portion of the oil previously observed moving to the SE towards the Loop Current (LC) has largely been entrained into a counter-clockwise rotating eddy to the north of the LC. Over flight observations report this oil is in the form of very scattered light [...]
thestatedtruth.com | May 23, 2010
thestatedtruth.com | May 22, 2010
LONDON BP PLC’s chief executive told staff he was frustrated by the company’s failure to stop an oil leak in the U.S. Gulf of Mexico and warned an attempt to do so starting next week could fail. In an email to staff late Friday, Tony Hayward said, “Like all of you, and the outside world, [...]
thestatedtruth.com | May 20, 2010
thestatedtruth.com | May 20, 2010
Is British Petroleum lying? 95,000 Barrels Are Leaking Daily, Says Engineer….A professor of engineering told Congress that the reality is 95,000 barrels of oil are gushing out of the oil leak daily.That’s 4 million gallons a day. Not the 5,000 barrels reported. ~~~~~~~~~~ Gregory White | May 20, 2010 While BP may [...]
thestatedtruth.com | May 19, 2010
New BP Insertion Tube Isn’t Working Submitted by George Washington on 05/19/2010 Tube inside the leaking oil pipe – unfortunately – isn’t doing very much. Specifically, the Miami Herald points out that – according to the Coast Guard – the spill is getting worse in spite of the insertion tube: The massive Gulf [...]
thestatedtruth.com | May 17, 2010
Natural Disasters Fill Seers’ Calendar in 2012 By: Rick Ackerman, Rick’s Picks Rick’s Picks Monday, May 17, 2010 “Phenomenally accurate forecasts” [Lately, Mother Earth has been angrier than we can ever recall. A friend of ours with a keen interest in the predictions of seers alerted us a few years ago to the prospect [...]
thestatedtruth.com | May 17, 2010
With only so much oil to go around, every new off-take agreement signed by the Chinese with the Saudis or Venezuelans, for example, is a net loss in supply to other bidders, notably the world’s largest energy consumer, the United States. That the Chinese, and other countries, are aggressively securing long- term energy arrangements, coincidental [...]
thestatedtruth.com | May 15, 2010
Jim Wilson/The New York Times By JUSTIN GILLIS Published: May 15, 2010 Scientists are finding enormous oil plumes in the deep waters of the Gulf of Mexico, including one as large as 10 miles long, 3 miles wide and 300 feet thick. The discovery is fresh evidence that the leak from the broken undersea [...]