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Last night experts were warning that the company had “the smell of death about it” as fears grew that the disastrous leak off the Louisiana coast could continue for another two months after the latest attempt to stem it failed.
Our theoretical analysis shows that an economic underground can come to life if firms have an incentive to go broke for profit at society’s expense (to loot) instead of to go for broke (to gamble on success). Bankruptcy for profit will occur if poor accounting, lax regulation, or low penalties for abuse give owners an incentive to pay themselves more than their firms are worth and then default on their debt obligations.
2012 Countdown wrote:I hear ya justdrew, there is some mystery here, and don't let me stop you from your exploration/investigation/postulation. Thats what this board does. Not enough evidence yet for me to say MIHOP though. Maybe I cannot see it, or better, want to think about it - and I'm just disappointed. I mean, where's the romance? Where's the fanfare? The fireworks? I didn't think slowly drowning in crude would be my fate in the 'endgame'. Not very glamourous.
Nordic wrote:I think it's extremely premature to even speculate about a MIHOP.
These people are idiots, and they don't care, and there are a lot of them.
They are engaged in an activity with which they had almost zero experience, i.e. digging into pools of oil with unforeseen pressures, deeper than they knew how to handle.
They were just reckless and foolhardy, and thought they were really hot shit.
This event was inevitable. Anyone with a brain could have seen this coming.
I think it's similar to the space shuttle blowing up. Except it keeps blowing up, every damn day, and nobody knows when it will end.
Chump wrote:Right out of the chute, I sensed that the Deepwater Horizon Rig Disaster was intentional - such as the attacks of 9/11 - another inside job. That's the way it feels. The numerology, (11 victims, April 20th...), Earth Day, the Earth pooping bloody diarhea into the drinking water - stuff like that. Why do I think like that?
Conditioning? Intuition? Perhaps my imagination is getting the better of me: Dick Cheney, Count Dracula, Dr. Evil, and Fu Manchu duking it out; one faction pounding another in an ongoing World wide, Corporate WW III. Unfortunately, I have found a few articles that substantiate that notion.
smiths wrote:did anyone make money out of the space shuttle blowing up?
Halliburton, which was in charge of sealing the well before it ruptured, led the rebound after the oil services company told investors it hasn't lost any work because of its ties to the Gulf oil spill.
Just a week before the Deepwater Horizon exploded, BP PLC asked regulators to approve three successive changes to its oil well over 24 hours, according to federal records reviewed by the Wall Street Journal. The unusual rapid-fire requests to modify permits reveal that BP was tweaking a crucial aspect of the well's design up until its final days. One of the design decisions outlined in the revised permits, drilling experts say, may have left the well more vulnerable to the blowout that occurred April 20, killing 11 workers and leaving crude oil gushing into the Gulf of Mexico. The Minerals Management Service approved all the changes quickly, in one instance within five minutes of submission.
BP senior drilling engineer Mark Hafle, in testimony on Friday at the same hearings, blamed the multiple well-design corrections on an inexperienced data entry employee who "made some typos" filling out the forms.
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