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The Subprime Primer (Click Here to Start)

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JAcqueline's picture

University scientists dispute government oil spill report

The government oil spill report has said things are well while that is being argued. Three scientific studies challenge what the National Incident Command says explaining the majority of the oil is burned, collected or vaporized. Getting shrimp is now allowed yet again for shrimpers. Obama went to the gulf with his family last week, ate seafood and swam within the gulf. However, 75 percent of the oil has yet to be collected and will threaten the ecosystem for years, as outlined by a University of Georgia (UGA) study. The sea floor has another plume of oil that was found by researchers at the University of South Florida (USF). The American Medical Association (AMA) reports that human health and seafood safety will be hurt by the oil spill for a long time.

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Minusoil: where technology can curb our consumption

ImageOur culture is obsessed with technology, and for many people it seems the solution to our environmental conundrums is embedded in the ways we utilize the technology we have to create solutions. To a great degree, technology is what got us into this oil-dependent mess in the first place; still, it can very well be an important component of moving away from oil while maintaining the same degree of global connectivity we currently experience.

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ArainaB's picture

British Petroleum’s Static Kill Test Postponed a Day

ImageBritish Petroleum had to scuttle yesterday’s test of the Static kill injectivity test until Tuesday, August 3rd when experts found small leakage from the damaged Macondo well in the Gulf of Mexico. The test is crucial for verify if the static kill procedure is likely to work. The injectivity test includes drilling and flooding of the ruptured well with thousands of barrels of mud to determine if oil can be pushed back into the reservoir from the top of the well.

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ArainaB's picture

Is the End Near to the BP Oil Spill?

ImageIt has been over 100+ days now since the April 20th explosion of the British Petroleum deep water well off the Louisiana coast that killed 11 people and spewed as much as 184 million gallons into the Gulf of Mexico. Some estimates put the spill at the Deepwater Horizon Macondo rig up to 5 million barrels of oil in the largest oil spill ever in American waters. All efforts to date to cap the well and stop the flow of oil have been marked by repeated failures and disappointments.

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MailaK's picture

New drilling moratorium drilling rig leaves gulf

A new drilling moratorium in the Gulf of Mexico was issued Monday by the Obama administration. Last month a federal court judge overturned the first deep water drilling moratorium. Interior secretary Ken Salazar vowed to come back with an additional one courts would accept. The first deep water drilling moratorium singled out drilling for oil at any kind of depths of 500 feet or more. The new drilling moratorium disregards depth and focuses only on drilling scenarios and know-how. The 2010 oil spill within the Gulf of Mexico dumped an estimated 140 million gallons of crude into the sea.

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gpc_admin's picture

What’s A Trillion Dollars Look Like?

Most of us are hearing about the government spending a Trillion Dollars, but to the average American it’s just a word.

Some of you may have seen these graphics floating around the internet lately, but if you haven’t you need to take a visual look at a Trillion dollars.

First off a Trillion is a 1 with 12 zeros, it looks like this: $1,000,000,000,000. Okay, so it’s a big number, but let’s put it into perspective.

Before we get to what a trillion dollars looks like visually, here are a couple of interesting statistics:

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MailaK's picture

Will payments come a lot more easily with the BP escrow fund?

In a private, closed-door meeting, Obama administration officials and BP executives agreed to the creation of a $20 billion BP escrow fund. The BP escrow fund can be used to pay the damages from the oil spill. Those that are damaged by the oil spill will be able to make a claim to this BP escrow fund. The real problem, though, is the question of if the BP escrow fund will actually help.

Article Source: BP Escrow fund - Helpful or hurtful

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ChanelN's picture

Should you change your oil with suction or gravity?

Changing your oil seems like a relatively basic process, all things considered. Drain out the oil, replace the filter, put every little thing back together, and add new oil. In some mechanics' garages and quick-lube shops, though, "suction" or "siphon" oil changing methods are gaining popularity. Is the suction method as good as the traditional oil change?

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gpc_admin's picture

Obama’s “regime change” of socialist control

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With all the solutions available from the private sector and from around the world since day one, to deal with the oil spill, President Obama has stalled on allowing any of these going forward for the following reasons:

To increase the power of government over the private sector. To allow the private sector to solve the problem would defeat and undermine Obama's assertion that only government and government-owned companies, bureaucracies and labor unions can provide the solution. Obama sees the private sector as inherently evil, as reflected in the fact that he refused to meet with BP to establish a working relationship with the company to cut through all the bureaucratic red tape.

    While BP attempts to cap the Deep Water Horizon well, it has to be remembered that the government forced BP to drill at a depth of 5,000 feet, one of the deepest wells ever drilled, creating the crisis. BP had wanted to drill at a depth of 500 feet. The result of the blowout has been that the government, Obama, and Democrats in Congress have threatened and talked down BP and its efforts. On the one hand, they require BP to obtain approvals from the government to move forward, while on the other hand they vilify the BP president and CEO during Congressional hearings, due to the government's own delays.

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