The Lousiana oil rig failure...

Catfish · 05-02-10, 01:15 PM

Worse than Exxon Valdez:
http://online.wsj.com/article/BT-CO-...atestheadlines

BP asks rivals for help
http://online.wsj.com/article/SB1000...sreel_business

Leaking Oil Well Lacked Safeguard Device
http://online.wsj.com/article/SB1000...s_mostpop_read

Bubblehead Nuke · 05-02-10, 06:25 PM

This is NOT about just the environmental damage. The economic cost of this is going to be STAGGERING.

They are deploying oil booms to try and contain this. Ships and boats can NOT cross these booms.

This renders the Mississippi River unaccessible. This renders the port of New Orleans inaccessible. This is going to STOP all shipping into and out of the area.

Think oil imports. New Orleans is a major import and distribution center. Supply and demand is gonna kick in and prices are going to skyrocket.

Think goods (a.k.a FOOD) that is shipped into the country that is docked at the port of New Orleans for distribution up the Mississippi River to other points. All those South American goods are not going to be coming in.

The fishing season is stopped. Boats can not get out to the fishing grounds because of the booms. Seafood is going to skyrocket.

Tourism on the gulf coast is going to take a beating. But it pales in comparison to the ripples this is going to make in the US Economy.

Yes, you can reroute ships to other ports, but many of those ports are already being used by other ships. The Mississippi is THE artery for good transportation in America. If you have to go around it, the cost starts to go up significantly.

Happy Times · 05-02-10, 10:57 PM

Quote:

Originally Posted by Bubblehead Nuke

This is NOT about just the environmental damage. The economic cost of this is going to be STAGGERING.

They are deploying oil booms to try and contain this. Ships and boats can NOT cross these booms.

This renders the Mississippi River unaccessible. This renders the port of New Orleans inaccessible. This is going to STOP all shipping into and out of the area.

Think oil imports. New Orleans is a major import and distribution center. Supply and demand is gonna kick in and prices are going to skyrocket.

Think goods (a.k.a FOOD) that is shipped into the country that is docked at the port of New Orleans for distribution up the Mississippi River to other points. All those South American goods are not going to be coming in.

The fishing season is stopped. Boats can not get out to the fishing grounds because of the booms. Seafood is going to skyrocket.

Tourism on the gulf coast is going to take a beating. But it pales in comparison to the ripples this is going to make in the US Economy.

Yes, you can reroute ships to other ports, but many of those ports are already being used by other ships. The Mississippi is THE artery for good transportation in America. If you have to go around it, the cost starts to go up significantly.

You are correct, it seems that the oil could be leaking out for months.

Including the wide economic effects in US you mentioned this could kill or cripple even BP as a company.

This and souring oil prices could be the tipping point in the systemic crisis that is going on.

We are talking about countries and banks defaulting in mass.

We are in unknown waters with the Recession>> Euro crisis, Goldman Sachs case and this BP catastrophy combined.

Pray or keep your fingers crossed, what suits you best, this could be a wild ride.

05-02-10, 01:15 PM	#1
Catfish Dipped Squirrel Operative Join Date: Sep 2001 Location: ..where the ocean meets the sky Posts: 17,800 Downloads: 38 Uploads: 0	Worse than Exxon Valdez: http://online.wsj.com/article/BT-CO-...atestheadlines BP asks rivals for help http://online.wsj.com/article/SB1000...sreel_business Leaking Oil Well Lacked Safeguard Device http://online.wsj.com/article/SB1000...s_mostpop_read

05-02-10, 06:25 PM	#2
Bubblehead Nuke XO Join Date: Feb 2006 Posts: 435 Downloads: 5 Uploads: 0	This is NOT about just the environmental damage. The economic cost of this is going to be STAGGERING. They are deploying oil booms to try and contain this. Ships and boats can NOT cross these booms. This renders the Mississippi River unaccessible. This renders the port of New Orleans inaccessible. This is going to STOP all shipping into and out of the area. Think oil imports. New Orleans is a major import and distribution center. Supply and demand is gonna kick in and prices are going to skyrocket. Think goods (a.k.a FOOD) that is shipped into the country that is docked at the port of New Orleans for distribution up the Mississippi River to other points. All those South American goods are not going to be coming in. The fishing season is stopped. Boats can not get out to the fishing grounds because of the booms. Seafood is going to skyrocket. Tourism on the gulf coast is going to take a beating. But it pales in comparison to the ripples this is going to make in the US Economy. Yes, you can reroute ships to other ports, but many of those ports are already being used by other ships. The Mississippi is THE artery for good transportation in America. If you have to go around it, the cost starts to go up significantly.