[BabyPeanut]

$this->bbcode_second_pass_quote('seahorse', 'I')'m a lawyer and represent an over the road truck driver. Yesterday (Friday), he told me diesel prices in Memphis, Tennesse were raised .40 per gallon in one day. I haven't done anything to verify this, but its what I was told.

[pilferage]

Diesel will go up more since it's taking the hit in refinery capacity directly, and will give a good idea what gas prices will be within a month or two. Gas prices should remain comparitively stable because of the gaoline imports from Europe, but I'm not sure how long this will last...

[Barbara]

$this->bbcode_second_pass_quote('', 'G')as prices should remain comparitively stable because of the gaoline imports from Europe,

[pilferage]

$this->bbcode_second_pass_quote('Barbara', 'S')table in the US, rising in the EU!

[gg3]

Oakland/Berkeley California: still in the range of $3.00 / gallon.

Someone in our working-group here told me that we get our oil from Alaska. And of course we have our refineries locally; you can drive by at night and see the dazzle of their lights amidst the metallic lacework of their pipes and towers and so on.

However, what's produced here also goes into the wider market, where the price can be bid upward by demand. So we do not get off as easily as the nearness of our supply would seem to indicate.

[spartacus]

Worse case Scenario:-

Rita has caused the write off (most likely) of the Chevron/BHPBilliton oil field/s, Typhoon (aptly named) and Boris.

http://finance.news.com.au/story/0,1016 ... 62,00.html

The field was produced via a tension-leg platform. After rita, the TLP was found inverted many miles from the field.
http://www.resourceinvestor.com/pebble.asp?relid=13201

It would appear that the structure would be difficult to lift from its present situation ( at least to me).

As the field came on-line in 2001, and was expected to have depleted the reserves by mid-2008, there are not enough remaining reserves to pay-out a new facility.

So, even less oil available when things get back to normal.

[uNkNowN ElEmEnt]

$this->bbcode_second_pass_quote('', 'O')il Spilled in Gulf of Mexico much worse than that of Exxon Valdez,
The issue isn't being reported due to possible ecological group fallout, and declining poll statistics of how the federal government has not reacted to Katrina's aftermath.

The source of the oil is coming from the countless holding facilities, refineries, and pump stations that line the Mississippi Delta and scattered about in the Gulf of Mexico. This tremendous oil spill is sure to affect the "dead zone" in the Gulf that is caused from the tons of nitrous fertilizer that is used in the farm districts.

The oil that was spilled is labeled in the millions of barrels, and could prove to be a huge ecological disaster if it isn't met with utmost importance. Currently the oil companies are in charge of the cleanup, but with their track record of being slow and inefficient, more support may be needed.

What's more to this story is that the Coast Guard said that over 5 million barrels has been "naturally dispersed" throughout the area. With such a large amount of crude oil spilled in the Missisippii River and the Gulf of Mexico.

When asked, a LT. Commander in the USCG said that the cleanup from Ivan took 6-8 months, and he expects this one to last for 1 1/2 year because of the extensive pollution that was caused from Katrina. 1 1/2 year is plenty of time for the oil to propogate, and affect sea life around the Gulf and the Caribbean.

(Resources gathered from TIMES staff writer Patricia Kime.)

The damage to the Gulf will be hard to determine.
The Coast Guard and the Navy have their jobs ahead of them. It will take years before they will know what waste, debris, spoilage is in the Gulf and how to deal with it all. In addition to the waste from the refineries that the article references, there are tons of other objects now in the Gulf. The Gulf of Mexico (and the Bays) are littered with debris.

I heard of a fellow that was taking his boat from Biloxi to Orange Beach, AL. He hit a house in the channel, 12 miles out in the Gulf. Striking the house tore the bottom off of his boat and his boat sunk. The Coast Guard rescued him as he stood, arms crossed, on the roof of the submerged house.
It will take years.

[rogerhb]

$this->bbcode_second_pass_quote('uNkNowN ElEmEnt', '')$this->bbcode_second_pass_quote('', 'O')il Spilled in Gulf of Mexico much worse than that of Exxon Valdez,
The issue isn't being reported due to possible ecological group fallout, and declining poll statistics of how the federal government has not reacted to Katrina's aftermath.

[uNkNowN ElEmEnt]

Well isn't that the function of government? To take care of everything so that people don't have to have their daily lives interrupted with the meaningless drivel that they can't do anything about anyway?
oops, apparently this is one of those "don't get me started" topics. Grrrr.
when you type Grrr should there be three or four r's?

[savethehumans]

As many "r's" as you need to make the point, my friend!

If Disney's Little Nemo lived in the Gulf of Mexico, the hue and cry would be so loud, the Neocons would be cleaning up the place in jig time! Unfortunately, Nemo--a cartoon fish--doesn't live there. Just real, live fish that the red tide hasn't already killed. And fish--BAH! Who needs 'em, they say. We eat STEAK! So open up those national protected areas so we can feed more cattle! What? The enviros object? Oh, all right! Go cut down some more Brazilian rainforest, then!

It's the depth of the stupidity that gets to me most. . . .

[uNkNowN ElEmEnt]

Yeah, some people are SO stupid it should hurt!

[UncoveringTruths]

Do you have a link? I would like to pass this along.

[dukey]

$this->bbcode_second_pass_quote('', 'N')o question they are in trouble, Their largest Field, Canterell, is heading into decline this year, potentially a steep one. In addition, Government regulations and high taxes make it difficult to development new fields, especially in deepwater, where costs are higher and PEMEX does not have the expertise.

[Starvid]

{There was a thread on this very article but I merged it since it wasn't the oldest thread. - BP}

[BabyPeanut]

http://www.fmprc.gov.cn/eng/topics/hchf/t31592.htm
$this->bbcode_second_pass_quote('', 'O')n the morning of October 20, 2003, President Hu Jintao met with Mexican President Vicente Fox.

The two leaders spoke highly of the progress in relations between the two countries and bilateral cooperation in economy and trade, science and technology, education, culture and other fields. Hu said that as two important developing countries, China and Mexico share wide-ranging common interests in maintaining world peace and promoting common development. The Chinese government attaches great importance to further developing an all-round friendly cooperation with Mexico. We should try to be sincere cooperation partners. He called on the two sides to join hands in fully tapping the potential of bilateral cooperation, support the business circles of both countries to continue to conduct all-directional, multi-level and wide-ranging cooperation and further bilateral friendly ties and cooperation.

Fox said China's rapid development constitutes a stabilizing force in the region and also provides Mexico with great opportunities for developing its domestic economy. Mexico would work with China for an even more beautiful future for bilateral ties. The two leaders also exchanged views on cooperation in APEC and other regional and international organizations.

[BabyPeanut]

$this->bbcode_second_pass_quote('', '[')url=http://ogj.pennnet.com/articles/article_display.cfm?Section=ONART&C=TOPST&ARTICLE_ID=238349&p=9]
Mexican law stalls deepwater talks (link)[/url]
Offshore staff of Oil and Gas Journal
Oct 6, 2005

(Mexico City)-Mexico's energy minister Fernando Canales commented last Friday that discussions between state oil monopoly Petroleos Mexicanos (Pemex) and potential partners on deepwater projects are being held up by Mexico's legal restrictions.

A limited number of companies have the technology to explore deepwater, and they insist on forming partnerships with Pemex, Canales said in his first press conference since taking over the Energy Ministry this week.

Mexico's constitution forbids oil and gas concessions to non-Mexican private companies, a practice that has been in place since Mexico nationalized its oil industry in 1938. Pemex does contract work to private companies, however.

Pemex has not developed its own deepwater technology to its fullest extent, due in part to its work in the shallow offshore field of Cantarell. This field is responsible for about 2 MMbbl of Pemex's 3.4 MMb/d crude production.

With production at Cantarell beginning to decline however, Pemex sees deepwater exploration as its best bet to increase crude oil and natural gas production, and to build up declining reserves. Pemex estimates that there are billions of barrels of crude lying farther out in 500 m of water in the GoM. In order to fully exploit these reserves, there is a need for associations with international companies, who have the technology to explore and produce in deeper waters.

[nth]

Babypeanut,

Yes! There is a lot of oil there, so despite hurricanes, it is very profitable.

Also, previous platforms are built to withstand hurricane class 2, I believed. They are definitely capable of building class 3 types. I am not sure about 4 and I doubt 5. How do you classify something as able to withstand class 5 when there is no upper limit for class5????

[BabyPeanut]

profitable?
$this->bbcode_second_pass_quote('', '[')url=http://www.theroyalgazette.com/apps/pbcs.dll/article?AID=/20050930/BUSINESS/109300129]
Insurance rates for rigs may quadruple after storms (link)[/url]
Monday, October 24, 2005

LONDON (Bloomberg) – Insurance premium rates for oil rigs in the Gulf of Mexico may quadruple following losses caused by hurricanes Katrina and Rita, Lloyd’s of London insurer Atrium Underwriting Plc said.“We are seeing a dramatic change in energy rates, probably across the board, though particularly for the Gulf,” Atrium Chief Executive Officer Nick Marsh said yesterday.

[nth]

Yes, it is still profitable as long as oil prices stay high. If prices drop below $30, then maybe not.

Platforms that produce over 100kbpd will produce over $5m a day.
In one years time, it will pay itself, so they can afford to fix damage platforms every year.

[BabyPeanut]

$this->bbcode_second_pass_quote('nth', 'I')n one years time, it will pay itself, so they can afford to fix damage platforms every year.