"Archimedes' Lever" <***@InfiniteSeries.Org> wrote in message
> On Fri, 18 Jun 2010 14:26:53 -0500, "amdx" <***@knology.net> wrote:
>>"StickThatInYourPipeAndSmokeIt" <***@thusspoke.org> wrote in
>>> On Fri, 18 Jun 2010 10:30:34 -0500, "amdx" <***@knology.net> wrote:
>>>>"Winfield Hill" <***@newsguy.com> wrote in message
>>>>> If you like, a little background.
>>>>> An Introduction to Drilling Offshore Oil Wells
>>>>> What's really going on with BP's well head?
>>>>> The Deepwater Oil Spill - Oh Shit...
>>>>> "stuck with a wide open gusher blowing out
>>>>> 150,000 barrels a day of raw oil or more."
>>>>> I also found the comments interesting. There
>>>>> has been very little about this in the press.
>>>>> Here's one story, is it the only one?
>>>>> Could Damaged Oil Well Casing Lead to Underwater Tar Pit?
>>>>> - Win
>>>> One thought about the cracks in the well casing, the casing is open
>>>>this would make me think most of the oil is flowing from the top of the
>>>>not flowing into the geological formation.
>>>> Once the relief wells are drilled and they can relieve the flow from
>>>>they should be able to seal the casing with concrete and stop any flow
>>>>in the casing. But that's just thinking from someone in the seafood
>>>>This mornings newspaper headline "Significant oil 32 miles away"
>>>> Did you watch this 60 minutes video?
>>>>It is in two parts on left side of page, part one is how the chief
>>>>heard the problem and saved his life, part two is what he saw in the
>>>>the explosion. I was locked on this when it first aired. Strange to me I
>>>>have not seen
>>>>any other media relate the same info.
>>>>PS. I'm not happy that the government strong armed $20 billion from BP.
>>>>only made BP
>>>>weaker financially. If BP stays strong they can continue to earn $10 to
>>>>billion each year
>>>>for the next 10 years and pay for the cleanup. If the government
>>>>to talk BP down
>>>>and they go bankrupt, the bill will be on the taxpayers shoulders.
>>>>I had more faith hat BP would pay for any losses I may have than the
>>> Unlike with FEMA and the Katria claims fiasco, BP was paying claims
>>> from day one!
>>> I wish folks would stop relying on incomplete, sensationalized new
>>> services' reports.
>>> Nobody here can tell me what BP did on day one.
>> I'm confused by what you said, I can't tell if you think BP was
>>spreading money out quickly or not. Here in PC, Fl. money was
>>flowing 6 or 8 weeks before the oil was here, and it still is not
>>on our beaches. From my perspective it looks like lot's of money
>>is being spent. My business is still doing well, but the writing is
>>on the wall, "The end is near"
>>I just hope BP still has assets if/when I start to have loses.
> I am saying that they mobilized ships immediately. It was in their best
> interests to do so. They have exactly zero reasons to have done
> They also began paying claims immediately once received, though I am not
> sure what their validation criteria has been.
Ok you and I are on the same page.
When the office first opened up in P.C. Beach Fl. the criteria was nill.
I know of one lazy bum that got his first check for $2,500 to cover losses,
the guy didn't earn $5,000 all last year, he didn't have losses. His
food stamp collecting girl friend collected $1,000. Both are fraudulent but
at least he did clean a few fish last year. She had no income except from
the taxpayers. It is time for their next check, may have already got it.
Next were the shrimpers, no oil, plenty of shrimp, price is up, but many
owners went and got $5,000 and the deckhands $2,500, but they actually
had more income. To be fair some of the shrimpers and fishermen deserve
to get checks, as their fishing/shrimping grounds are contaminated and they
have lost income and a way of life. And then there are some that got their
check and continue to fish.
Here's an article in my local paper that illustrates the high pay BP is
I have been on a rant the last week, don't know if you noticed any of my
but here is a letter I sent out regarding the BP $20 billion escrow fund. It
to little to late.
My wife and I have a small store where we have been selling shrimp from for
11 years. Our store is actually a boat in St. Andrews Marina. Everyday
fishermen hired by BP are going out in search of oil. I see 30 to 50 boats
leave every morning. Many (it should be most*) of these are fishermen that
have lost there means of making a living. BP has hired them and is paying
them well. At this time we have no oil in Panama City.
MY FIRST POINT, don't do anything that will affect the financial viability
of BP. You should encourage purchase of BP fuel, you need to keep BP healthy
so the stock price can rise, this makes BP stronger so it can continue to
pay cleanup crews and claims.
I am on this marina everyday and I know most of the fishermen, the fisherman
are thrilled with the pay from BP.
A small boat of 20ft gets $1000 dollars day, This is $250,000 a year for a 5
day work week. Fuel and supplies are paid by BP. The larger the boat the
higher the pay, $3000 a day is the highest I have heard. That's $750,000 a
year, and the expenses are paid. Deckhands are getting $200 dollars a day,
that is $50,000 a year. Most of these deckhands never saw $20,000 a year in
The pay is so high that the shrimpers are stopping shrimping and going to
work for BP, on oil patrol. The same is happening in Apalachicola Fl, (about
100 miles SE of me) the oyster capitol of this area. Our local oyster bar
had to find a new source for oysters, his oystermen went to work for BP.
A quote from our local newspaper,
"APALACHICOLA - With compensation checks easily available, oystering has
slowed to a crawl on Apalachicola Bay. ...Seafood houses across the county
say they are able to obtain barely 10 percent of their normal allotment of
oysters. There are plenty of oysters. ( just know one to harvest them)
Same with Apalachicola shrimpers, There is no oil and plenty of shrimp.
Panama City Beach is a tourist area, when the oil gets here the thousands of
hotel rooms will not have tourists, the housekeepers won't have work, the
restaurants won't have customers and waitresses tips will dwindle. All
business will be affected. Real estate is already greatly affected, people
don't want to buy with oil coming and some know prices will be lower in 3 or
Now back to my situation, for the last 7 years we have been open 10 hrs a
day, 7 days a week, 363 days a year.
We will continue working until we can't. The plan was 7 to 10 more years,
now I don't know if it will be one more month or one more year. At this
point I am confident BP will pay for any losses that I may have in the
future, but they need to continue to be financially strong.
I'm sure you're aware that the BP stock price is down 44% since the spill
started. This means they have lost 73 billion in market capitalization. It
is time to help the company recover rather than do anything that could
affect the price further.
Many retirees rely on BP dividends for retirement income. If you push the
idea to create an escrow fund and cause the dividend to be unpaid, this will
lower the stock price, further weakening the company. Without those
dividends the retirees will find other stocks to get there income**.
This could cause BP to fail.
If you allow BP to stay strong, the 15 to 20 billion dollars of profit they
generate every year will be more
than enough to pay cleanup and claims.
Please stay focused on the unintended consequences of creating an escrow
**Recreational fisherman are jumping on this gravy train, it should have
fishermen first. Retirees are supplementing their retirement with their
recreational fishing boat.
** ( starting with 44% less money)