Friday, May 28, 2010
Zerohedge - an interesting and worthwhile blog
If you are concerned about the state of Rule of Law, Market Transparency (is there any still?), Sovereign Debt and Bankruptcy, Bubbles, etc. you should check out www.zerohedge.com. Maybe not popular or mainstream theses and editorial but well worth consideration along with the swirl of other information and misininformation we are treated to on a daily basis. The authors challenge how most of us usually think. That's a good thing.
ALL CAPS
Oil spew is good for a lot of headlines.
Underneath the headlines was an interesting bit discussing an apparently ill-advised yet government-approved BP plan over objections of the rig operators to withdraw drilling fluids BEFORE CAPPING THE WELL and taking it out of service. The fingerpointing spotlighted that this shortcut, out-of-normal-order approach may well have been the proximate cause of the gas escape and explosion that started this whole goat rodeo.
Wait a minute... they said they WERE ABOUT TO CAP THE WELL and take it out of service before the accident. Why would BP want to cap a well that obviously produces a whole lotta oil? If anyone knows the reason, I'd love to see it in print.
Underneath the headlines was an interesting bit discussing an apparently ill-advised yet government-approved BP plan over objections of the rig operators to withdraw drilling fluids BEFORE CAPPING THE WELL and taking it out of service. The fingerpointing spotlighted that this shortcut, out-of-normal-order approach may well have been the proximate cause of the gas escape and explosion that started this whole goat rodeo.
Wait a minute... they said they WERE ABOUT TO CAP THE WELL and take it out of service before the accident. Why would BP want to cap a well that obviously produces a whole lotta oil? If anyone knows the reason, I'd love to see it in print.
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