Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

BP Oil Spill Global Catastrophe Reaches Epic Proportions

Politics / Environmental Issues Jul 04, 2010 - 07:08 PM GMT

By: T_Anthony_Michael

Politics

Diamond Rated - Best Financial Markets Analysis ArticleDr. Tom Termotto writes: As BP Oil Spill Lets the Genie Out Of The Bottle

Why has it been so difficult to put this GENIE (Oil & Gas) back into the bottle (Macondo Prospect, Gulf of Mexico)? Or at least keep any more of him from coming out?

There are many reasons, on many different levels, but let’s start with BP and the culture of corporate superiority that has evolved at this corporate behemoth since its founding in 1908. We’re talking about the granddaddy here – the Anglo-Persian Oil Company – which was the first to develop the oil and gas reserves discovered in the Middle East. Simply put, when you’re the biggest and the oldest in that neck of the woods, you get used to doing it your way, and ONLY your way.


Well, British Petroleum’s way of developing oil and gas throughout their planetary stomping grounds (Planet BP — a BP online, in-house magazine) is known to many insiders and outsiders alike by the catchphrase that goes like this – “OPERATE TO FAILURE

It doesn’t take much understanding or knowledge to apprehend the enormity and gravity of the potential consequences of such a standard operating principle in the oil and gas exploration and drilling business. Especially when you’re drilling 5000 feet underwater, and between 22,000 and 32,000 feet (they won’t tell us how deep) through the Earth’s crust and mantle. When you throw in the likes of Transocean and Halliburton into the mix, it’s not a matter of what, or if, or when, the greatest disaster of all time is going to happen. IT’S A MATTER OF JUST HOW CATASTROPHIC IT WILL BE FOR THE ENTIRE PLANET!

Incidentally, this piece in no way excuses the US Federal Government for their huge part in this global calamity. They have, in fact, variously acted as enabler, co-dependent and full-time accomplice in the execution of this crime against humanity and the planet, Herself. By its actions and inaction, the US Gov’t (EPA, Departments of Energy, Interior, Homeland Security, US Congress, US Judiciary and the White House) has been identified by many as an indicted co-conspirator in this unprecedented crime against a whole region of the USA. Rather shocking, but true as the evidence which currently exists in the public domain bears out.

Back to the GENIE. He’s out in more ways than one and we speak particularly of the raging debate regarding the abiogenic origin of petroleum. Let’s let the real experts tell us the real story about where oil and gas really come from. Highly esteemed Russian researcher, Dmitri Mendeleev, is described as follows by Wikipedia. Perhaps we ought to listen carefully to him. “Mendeleev made other important contributions to chemistry. The Russian chemist and science historian L.A. Tchugayev has characterized him as “a chemist of genius, first-class physicist, a fruitful researcher in the fields of hydrodynamics, meteorology, geology, certain branches of chemical technology (explosives, petroleum, and fuels, for example) and other disciplines adjacent to chemistry and physics, a thorough expert of chemical industry and industry in general, and an original thinker in the field of economy.” Mendeleev was one of the founders, in 1869, of the Russian Chemical Society.”

Here’s what Dmitri has to say about the abiogenic source of hydrocarbons in his tract entitled THE ORIGIN OF PETROLEUM:

“The capital fact to note is that petroleum was born in the depths of the Earth, and it is only there that we must seek its origin.” (D. Mendeleev, 1877){{ref|Mendeleev}} Mendeleev, D., 1877. L’Origine du pétrole. Revue Scientifique, second series, VIII, p. 409–416

Following is a very brief history of the Abiogenic Theory of Petroleum, which can be found at the following link:

http://tripatlas.com/Abiogenic_petroleum_origin

HISTORY OF ABIOGENIC THEORY

“The abiogenic petroleum theory was founded upon several old interpretations of geology which stem from early 19th century notions of magmatism (which at the time was attributed to sulfur fires and bitumen burning underground) and of petroleum, which was seen by many to fuel volcanoes. Indeed, Wernerian appreciation of basalts at times saw them as solidified oils or bitumen. While these notions have been disabused, the basic notion that petroleum is associated with magmatism has persisted. The chief proponents of what would become the abiogenic theory were Mendeleev[5] and Berthelot. Russian geologist Nikolai Alexandrovitch Kudryavtsev was the first to propose the modern abiotic theory of petroleum in 1951. He analyzed the geology of the Athabasca Tar Sands in Alberta, Canada and concluded that no “source rocks” could form the enormous volume of hydrocarbons (estimated today 1.7 trillions barrels), and that therefore the most plausible explanation is abiotic deep petroleum. However, humic coals have been proposed for the source rocks by Stanton (2005). Although this theory is supported by geologists in Russia and Ukraine, it has recently begun to receive attention in the West, where the biogenic petroleum theory is accepted by the vast majority of petroleum geologists. Kudryavtsev’s work was continued by many Russian researchers — Petr N. Kropotkin, Vladimir B. Porfir’ev, Emmanuil B. Chekaliuk, Vladilen A. Krayushkin, Georgi E. Boyko, Georgi I. Voitov, Grygori N. Dolenko, Iona V. Greenberg, Nikolai S. Beskrovny, Victor F. Linetsky and many others. Astrophysicist Thomas Gold 1 was one of the abiogenic theory’s most prominent proponents in recent years in the West, until his death in 2004. Dr. Jack Kenney of Gas Resources Corporation[6][7][8] is perhaps the foremost proponent in the West. The theory receives continued attention in the media as well as in scientific publications.”

FOUNDATIONS OF THE HYPOTHESIS

“Within the mantle, carbon may exist as hydrocarbon molecules, chiefly methane, and as elemental carbon, carbon dioxide and carbonates. The abiotic hypothesis is that a full suite of hydrocarbons found in petroleum can be generated in the mantle by abiogenic processes,8 and these hydrocarbons can migrate out of the mantle into the crust until they escape to the surface or are trapped by impermeable strata, forming petroleum reservoirs. Abiogenic theories reject the supposition that certain molecules found within petroleum, known as “biomarkers,” are indicative of the biological origin of petroleum. They contend that some of these molecules could have come from the microbes that the petroleum encounters in its upward migration through the crust, and that some of them are found in meteorites, which have presumably never contacted living material, and that some can be generated by plausible reactions in petroleum abiogenically.7” The hypothesis stated above is founded primarily upon the following conclusive and quite compelling evidence:

Another important exposition on the matter comes from Samar Abbas, Institute of Physics, Bhubaneswar, India and his paper entitled: NON-ORGANIC THEORY OF THE GENESIS OF PETROLEUM, which can be found at: http://www.scribd.com/doc/5016480/...

The following blog presents additional information which invalidates the conventionally held “fossil fuel” hypothesis. After having been artificially propped up for so many years by scientists, academics and especially oil and gas industry geologists, who have known the obvious truth about the source and nature of oil all along, the aforementioned Russian and Ukrainian scientists have debunked it with finality.

http://freeenergynews.com/Directory/Theory/SustainableOil/

The blog below entitled “Abiotic Oil – The Secret of the BP Oil Spill” ought to have gone one step further to point out that all oil is abiotic in nature. And that those deposits found in the more shallow areas of the earth’s crust, where most of the drilling and extraction have been conducted historically, are not any different in nature or source because of their more superficial geological location. The very notion of Peak Oil is also completely upended with this new understanding. However, it is very important that these discoveries do not cloud our vision for the future. Just because Mother Earth’s lifeblood is much more voluminous and readily available than previously thought, does not mean that we have any more license to steal it from Her. Western Civilization, more than ever, must attain a vision of the future which respects Mother Earth with the utmost reverence and awe. Until this posture is assumed by every living thing, She will continue to teach us in so many dramatic and captivating ways.

********* Abiotic Oil – The Secret of the BP Oil Spill *********

“As usual, here is the place where you get the unfettered truth about what’s going on in the world, and today I will pull back the curtains on the BP oil leak and what will go down as one of the most important discoveries of the 21st century – that oil is abiotic – produced inside the Earth and is not simply rotting dinosaurs and old plants (aka “fossil” fuel).

The amount of oil seeping into the Gulf of Mexico, at this very moment, emerges from an *ocean* of oil that is almost as large as the Gulf itself! This ocean of oil didn’t appear there because it was a giant fish graveyard. It was not a prehistoric jungle 20 miles high and 500 miles wide. This oil is abiotic oil and is produced by geological actions in the earth itself. Abiotic oil is created by intense pressures on carbon, hydrogen, oxygen and sulphur. The sort of pressures required to create oil are natural as one gets down a certain depth under the heavy crust and in the upper layers of the mantle. In some ways oil is the natural lubrication system for the crust and the upper layers of the mantle as it shifts and orbits the planet’s core.

The best think-tanks have known this for several decades now and have kept it hush hush to keep prices of oil high and help the oil industry. This was necessary because oil companies have huge assets and those assets are put to good use in infrastructure, research and development in more than simple oil production. Capitalism requires that certain commodities be given a value above and beyond the cost of procurement. Now that we have a leak which will not be able to be plugged, it’s time to prepare and explain what exactly is going on with the Deep Horizon well and why it is almost impossible to cap that Genie back in the bottle.

The underground oil oceans are under far more pressure than their ground well brethren and contain much more oil. At the depth of the Deep Horizon well, one mile under the sea, the per inch pressure is 2640 pounds per square inch. The ocean floor in these locations is very dense and can contain the underground oil oceans. Even so, in the Gulf, an Exxon Valdez size amount of oil naturally seeps into the Gulf every year. This under crust oil is seeping into all the oceans, but the Gulf, due to its size and geographic position, makes the seepage measurable … …

The typical cures are not working and they will not work. Think how much pressure this underground oil must exist with to support the thin crust between it and the ocean! The odds are the Gulf’s underground oil ocean exists between 15,000 and 30,000 psi at all points. Most oil equipment is not made to handle the upper end of this pressure spectrum. So caps blow off, plugs fail and almost nothing can stem the flow of oil now merging an ocean of oil and the Gulf of Mexico.

The two relief wells now being drilled are probably not a good idea, because, unlike a ground well, this may not “divide” the pressure and create 3 wells with manageable 5,000 psi flows. In fact, depending on the size of this ocean of oil, twenty or thirty relief wells might still only bring the psi down to 10,000! So the relief wells may just create 3 leaks where there was one before. If this is the case, BP seriously needs to fire their current geologists and hire some of the Russian abiotic oil scientists to assist them in corralling the flow from this oil ocean. Watch the news, and hope that BP actually understands what it is dealing with because the relief well option illustrates some of the senior geologists at BP do/did not think the oil is abiotic. If, in August, when the relief wells are finished and we have 3 leaks in lieu of one you will understand why. After reading this you will know more than the BP geologists.” POSTED BY SDAI-TECH1

***************************************************************************************************************

Although the following link is not for the faint-hearted, it is not fear-based and does express in no uncertain terms what must be done, with all deliberate speed, at this defining moment in human history. Humankind is compelled to act, and act now because:

“They’ve Literally Punched A Hole Into Hell: We Need A Crash Alternative Energy Program Now, Assuming We Even Survive”

http://motherearthwisdom.wordpress.com/..

“The suggestion that petroleum might have arisen from some transformation of squashed fish or biological detritus is surely the silliest notion to have been entertained by substantial numbers of persons over an extended period of time.” Fred Hoyle, 1982

In conclusion, petroleum is clearly not a fossil fuel as we have been taught by our modern science classes. Nor is it created in the manner that we have been led to believe. Peak Oil is a product of the Oil and Gas Industry whose agendas are outworking throughout the planetary landscape with awesome consequence and, in many cases, non-remediable damage.

The 64K question is, “What in the world are we going to do about it?” And do fast, before it’s too late!

Dr. Tom Termotto, National Coordinator

Gulf Oil Spill Remediation Conference (International Citizens’ Initiative)

OilSpillSolution@comcast.net

Very sincerely,
Concerned Citizens of Florida

We The People we_the_people@fastmail.us

T. Anthony Michael is a Financial Analyst & Long Range Financial Planner.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

T. Anthony Michael Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Shelby Moore
07 Jul 10, 14:26
BP will spill for 30 years?

http://goldwetrust.up-with.com/biblical-f3/tribulations-t128-15.htm#3294

Link above contains update from Lindsey Williams, who claims to have access to two elderly industry former CEOs who are leaking the truth.

http://goldwetrust.up-with.com/biblical-f3/tribulations-t128-15.htm#3262

Link above claims that Obama govt knew about the problem in February will before the rig blew up.


Jean-Francois MORF
09 Jul 10, 11:52
interest coflicts

First letter:

To stop the oil leaking pipe, BP need a new floating drilling plattform, drilling a new steel pipe, the diamond drill having been replaced by a long steel cone, followed by a steel pipe only a little smaller then the existing steel pipe inside the ocean floor.

When the new smaller pipe will have been drilled down many miles deep into the old pipe, their will be no more leaking oil.

After then, BP will crack the long conical head, miles deep under the ocean bottom, and the oil will flow again to the new drilling plattform, through the new just a little smaller steel pipe...

Answer:

Dear Jean-Francois Morf,

Thank you so much for taking the time to think about and submit your proposed solution regarding the Horizon incident. Your submission has been reviewed for its technical merits. Unfortunately, the team has determined that your idea cannot be applied under the very challenging and specific operating conditions we face. All of us on the Horizon Support Team appreciate your thoughts and efforts.

Sincerely yours,

Horizon Support Team

Second letter:

PUT OPTIONS GAINS BLENDING OIL ENGINEERS:

Imagine every officers and every engineers of "big oil" have bought all together many billions $ of long term PUT options on underlying BP stocks, Transocean stocks, and banks stocks...

Every feasible common sense solution to stop the spill becomes suddenly "not applicable", because the more the BP and Transocean stocks falls, the more they all together wins trilllions $, at cost of the stupid banks, whose market makers computers have sold them all these controversy PUT options!

A perverse effect more of the casino derivative market, (of one quadrillion $) that is about 20 times bigger that the real world stock market! (google: quadrillion derivatives).

If anybody can confirm my hypothesis, please publish the polluting interest conflict scandal of all these PUT holders!

(Other scandal: Transocean made his IPO just before disaster in Switzerland and not in USA: did they know something was wrong...)

HOW STOP THE SPILL WHEN ALL BP PEOPLES HAVE PUT OPTIONS ?

1) PUT options on BP and BP America stocks should immediately be nationalized, until the spill disaster is repaired.

2) US Army cut out (with breaking explosives) the Blowout Preventer (3 faucets in serial) at ocean floor level.

3) US army (with the triest submarine) push into the spilling pipe a very long pointed steel cone, tungsten filled, until the cone block (set) into the old pipe.

4) Big electrical puls weld the new cone to the old pipe.

5) Then the Triest submarine can release the down pressure on the new steel cone, now welded.

6) US army cast concrete over all, so the spill remains closed forever, even if steel or tungsten would corrode.

7) US Army analyse if the 3 faucets in serial have really functioned one time for the test, or if the US inspectors where fully corrupted (millions $ tip).

Answer:

Dear Jean-Francois Morf,

Thank you so much for taking the time to think about and submit your proposed solution regarding the Horizon incident. Your submission has been reviewed for its technical merits. Unfortunately, the team has determined that your idea cannot be applied under the very challenging and specific operating conditions we face. All of us on the Horizon Support Team appreciate your thoughts and efforts.

Sincerely yours,

Horizon Support Team

Third letter:

USA has about 0,04 billion new poors (discouraged workers, not in the jobless statistic).

You will need all them to repare the coast, at cost of BP!

And if BP does not pay: nationalise BP!

Answer:

Dear Jean-Francois Morf,

Thank you so much for taking the time to think about and submit your proposed solution regarding the Horizon incident. Your submission has been reviewed for its technical merits. A similar approach has already been considered or planned for possible implementation. All of us on the Horizon Support Team appreciate your thoughts and efforts.

Sincerely yours,

Horizon Support Team

Ma toute première lettre: (publiée dans Agefi)

A toutes les victimes des traders,

Imaginons que BP avait vendu "short" les actions de tous les actionnaires BP, pour acheter aux "market makers" des millions d'options PUTs à long terme, sur actions BP...

Avec l'effet levier des options, plus longtemps BP ferait l'idiot, plus BP deviendrait multi-billionaire, afin de pouvoir se payer les meilleurs avocats!

Ce serait un nouvel effet pervers des produits dérivés, un marché de casino, 20 fois plus gros que le marché des actions!

(googlez derivative quadrillion$)

Et cela expliquerait la chute impressionnante des actions bancaires dont les ordinateurs auraient imprudemment vendu les options PUTs sur BP...

Avez-vous comme moi l'impression que BP n'a jamais eu l'intention d'obturer son forage, (ni d'ailleurs de réparer les dégâts, car à l'impossible, nul n'est tenu).

Pourtant, cela ne devrait pas être bien sorcier de faire descendre lentement dans le centre du trou, (depuis une nouvelle plate forme pétrolière flottante), une pointe en acier en forme de cône très allongé, qui obturerait très progressivement le trou, au fur et à mesure qu'elle s'enfoncerait de plusieurs Km dans le trou, le diamètre du tube en acier après la vis étant calculé pour ne pas faire éclater le trou, mais simplement pour glisser dedans et le boucher progressivement.

Donc un processus qui serait très apparenté à un nouveau forage pétrolier, en remplaçant simplement le foret au diamant par un long cône d'acier, suivi d'un nouveau tube légèrement plus petit que le tube existant.

Une fois le nouveau tube arrivé tout au fond du trou, BP ferait se fissurer la pointe en acier, et le nouveau tube conduirait alors le pétrole vers la nouvelle plate forme flottante!

Dans tout nouveau forage pétrolier aussi, le foret au diamant doit bien être guidé vers le trou central du bloc de béton qui a été coulé au fond de la mer comme point de départ du nouveau forage: la technique pour viser le centre d'un trou existe donc certainement...

Avez-vous vu l'interview du directeur de BP? Vivement que BP soit repris en mains par un concurrent moins arrogant!

Meilleures salutations

Jean-François Morf

ingénieur ETHZ

MBA HEC UNIL

Rte de Mon Moulin 4 E

CH-1906 Charrat/VS

Tel: +4179 466 73 66


Jean Francois Morf
09 Jul 10, 11:59
bp oil spill

My first letter:

To stop the oil leaking pipe, BP need a new floating drilling plattform, drilling a new steel pipe, the diamond drill having been replaced by a long steel cone, followed by a steel pipe only a little smaller then the existing steel pipe inside the ocean floor.

When the new smaller pipe will have been drilled down many miles deep into the old pipe, their will be no more leaking oil.

After then, BP will crack the long conical head, miles deep under the ocean bottom, and the oil will flow again to the new drilling plattform, through the new just a little smaller steel pipe...

Answer:

Dear Jean-Francois Morf,

Thank you so much for taking the time to think about and submit your proposed solution regarding the Horizon incident. Your submission has been reviewed for its technical merits. Unfortunately, the team has determined that your idea cannot be applied under the very challenging and specific operating conditions we face. All of us on the Horizon Support Team appreciate your thoughts and efforts.

Sincerely yours,

Horizon Support Team


tr
10 Jul 10, 12:54
deplete the earth's core fires?

would there be a possibility that drilling and depleting these deep wells of abiotic oil will cause an imbalance in the earth's natural process of burning in the mantle?


Bruce Ruttan
29 Dec 10, 10:27
BP reply

This is not an engineering problem at this stage. It is a materials problem.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in