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Monday, September 26, 2011
Wednesday, September 21, 2011
Deepwater Horizon: Final Report
The Joint Investigation Team has released it's final report on the Deepwater Horizon explosion, loss of life and subsequent oil spill. The JIT details the evidence that BP, Transocean and haliburton violated a number of federal offshore safety regulations. Surprise!
Tuesday, September 20, 2011
Peak Oil Revisited
Hubbert’s Peak or Yergin’s Plateau?
In 1956, Shell geologist M. King Hubbert correctly predicted that oil production in the United States would reach a peak around 1970. Since his Peak Oil theory fits so well with the Malthusian worldview of “Progressives”, anti-capitalists and anarchists, Hubbert has become a posthumous hero to the Left, an unusual role for a scientist polluted by the filthy lucre of the oil industry.
Peak Oil’s fundamental assumption is that the supply of oil is finite and fixed. The peak of the oil production curve is reached when half of the total resource base has been produced, so rate vs time exhibits a symmetric bell-shaped curve. Post peak, rate declines rapidly. Hubbert demonstrated a peak for oil production in Texas, and he extended his theory to correctly predict the time (but not the rate) of the peak for the U.S. World oil production is supposed to have peaked in the last five years or so.
In 1956, Shell geologist M. King Hubbert correctly predicted that oil production in the United States would reach a peak around 1970. Since his Peak Oil theory fits so well with the Malthusian worldview of “Progressives”, anti-capitalists and anarchists, Hubbert has become a posthumous hero to the Left, an unusual role for a scientist polluted by the filthy lucre of the oil industry.
Peak Oil’s fundamental assumption is that the supply of oil is finite and fixed. The peak of the oil production curve is reached when half of the total resource base has been produced, so rate vs time exhibits a symmetric bell-shaped curve. Post peak, rate declines rapidly. Hubbert demonstrated a peak for oil production in Texas, and he extended his theory to correctly predict the time (but not the rate) of the peak for the U.S. World oil production is supposed to have peaked in the last five years or so.
Tuesday, September 13, 2011
Monday, September 12, 2011
Halliburton vs. BP
Halliburton files claims in Texas against BP stemming from Macondo
Published: Sep 2, 2011
Offshore staff
HOUSTON – Halliburton has filed claims against BP in a Texas state court stemming from the Macondo incident in the Gulf of Mexico for negligent misrepresentation, business disparagement, and defamation. Halliburton also has moved to amend its claims against BP in multi-district litigation in New Orleans to include fraud.
Halliburton says these allegations are based upon BP providing Halliburton with inaccurate information prior to performing cementing services and BP’s use of an omission of that information in subsequent public statements, filings, and governmental investigations.
Halliburton says it has learned that BP provided Halliburton inaccurate information about the actual location of hydrocarbon zones in the Macondo well. Halliburton says the actual location of the hydrocarbon zones is critical information required prior to performing cementing services and is necessary to achieve desired cement placement.
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