Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Aug. 30 (Bloomberg) -- Royal Dutch Shell Plc and BP Plc plan to finish shutting oil and gas production platforms in the Gulf of Mexico and Enbridge Energy Partners LP will close pipelines as Hurricane Gustav gains strength and moves toward the region.
Shell and BP aimed to complete the shutdown of the equivalent of 800,000 barrels a day of oil production today. Enbridge said it will halt Gulf gas shipments effective 9 a.m. local time. Oil producers have shut at least 6.6 percent of output in the Gulf of Mexico, according to U.S. government figures at midday yesterday. Shell plans to halt 510,000 barrels a day and BP said it will stop about 290,000 barrels.
Fields in the Gulf produce 1.3 million barrels a day of oil, about a quarter of U.S. production, and 7.4 billion cubic feet a day of natural gas, 14 percent of the total, government data show. Hurricane Katrina in 2005 closed 95 percent of regional offshore output and, along with Hurricane Rita, idled about 19 percent of U.S. refining capacity.
Got Spare Capacity?
_________________ Cogito, ergo non satis bibivi
C'mon man, who're you gonna believe?
Posted: Sat Aug 30, 2008 11:43 am Post subject: Re: 2008 Hurricane / Typhoon / Cyclone Season
He's a Category 4 now. _________________ "The problems of today will not be solved by the same thinking that produced the problems in the first place." - Albert Einstein
Posted: Sat Aug 30, 2008 11:47 am Post subject: Re: 2008 Hurricane / Typhoon / Cyclone Season
Thanks for the traffic cam, leannan. Who the heck is heading into the city? And at what point do they shut off the incoming ramps to open both sides of the highway to out-going traffic?
The latter looks an awful lot like the "nightmare scenario." Not that the first one is exactly good news... _________________ "The problems of today will not be solved by the same thinking that produced the problems in the first place." - Albert Einstein
Levee experts and the Army Corps insist New Orleans is safer than before Katrina flooded more than 80 percent of the city on Aug. 29, 2005.
Yet the system still has severe shortcomings: Flood barriers meant only to withstand medium-strength storms, hidden layers of weak soil and navigation channels that inadvertently funnel storm surge into the city, to name a few.
"The positive thing about having any storm hit you, it will reveal any kind of frailty in the system," said J. David Rogers, an engineer at the Missouri University of Science and Technology who has tracked the construction closely. "And we shouldn't be surprised if there is frailty."
_________________ Cogito, ergo non satis bibivi
C'mon man, who're you gonna believe?
Posted: Sat Aug 30, 2008 12:02 pm Post subject: Re: 2008 Hurricane / Typhoon / Cyclone Season
dohboi wrote:
And at what point do they shut off the incoming ramps to open both sides of the highway to out-going traffic?
Apparently, one thing holding them up is that the buses have to get back in. They are making round trips, taking people out and then going back and getting more. _________________ "The problems of today will not be solved by the same thinking that produced the problems in the first place." - Albert Einstein
Joined: Jun 18, 2005 Posts: 3980 Location: In a van down by the river
Posted: Sat Aug 30, 2008 12:04 pm Post subject: Re: 2008 Hurricane / Typhoon / Cyclone Season
Leanan they both look like nightmare scenarios.
The Mets at Storm2k are making the point that even if it does weaken to Cat 3 just before landfall and it is a Cat 5 in the Gulf, you still end up with a Cat 5 storm surge. That would absolutely devastate NO and a large chunk of US Gulf oil production.
He is almost a Cat 5 right now, thoughts and prayers to all those who are effected by this, and I hope everyone is getting out of the way right now.
The Levees are not designed to hold in a Cat5 storm, this time NO is on the wrong side of the storm surge. remember the devastation to the East of NO after Katrina? Towns were wiped out for hundreds of miles. Flooding rains and a 20 to 30 ft storm surge and the NO is going to be filled up again.
Posted: Sat Aug 30, 2008 12:18 pm Post subject: Re: 2008 Hurricane / Typhoon / Cyclone Season
I was flabbergasted with the indifference oil traders exhibited on Thurs and Fri, regarding this storm. Goodness, by late Friday's trading this storm had all the earmarks of the destruction wrought by Katrina. It really makes me wonder if all the moaning about "speculators" didn't create dysfunctional, skittish behaviors that artificially kept prices down. This in turn could well leave us with more acute shortages down the road because the price mechanism is out of whack to the downside.
Sorry for the rant. back to the storm. _________________ Civilization: the biosphere's skin disease
Posted: Sat Aug 30, 2008 12:20 pm Post subject: Re: 2008 Hurricane / Typhoon / Cyclone Season
firestarter wrote:
I was flabbergasted with the indifference oil traders exhibited on Thurs and Fri, regarding this storm. Goodness, by late Friday's trading this storm had all the earmarks of the destruction wrought by Katrina. It really makes me wonder if all the moaning about "speculators" didn't create dysfunctional, skittish behaviors that artificially kept prices down. This in turn could well leave us with more acute shortages down the road because the price mechanism is out of whack to the downside.
You may remember...the same thing happened before Katrina. Oil went down.
Nothing's changed. Oil traders are very short-sighted. _________________ "The problems of today will not be solved by the same thinking that produced the problems in the first place." - Albert Einstein
Posted: Sat Aug 30, 2008 12:37 pm Post subject: Re: 2008 Hurricane / Typhoon / Cyclone Season
Even the NHC seems taken aback by Gustav's rapid intensification.
Quote:
000
WTNT42 KNHC 301823
TCDAT2
HURRICANE GUSTAV SPECIAL DISCUSSION NUMBER 24
NWS TPC/NATIONAL HURRICANE CENTER MIAMI FL AL072008
200 PM EDT SAT AUG 30 2008
SO MUCH FOR A SLOWDOWN IN THE INTENSIFICATION RATE OF GUSTAV.
YESTERDAY AT THIS TIME WE CONVEYED THAT RAPID INTENSIFICATION OVER
THE NORTHWESTERN CARIBBEAN WAS POSSIBLE...BUT THIS IS A LITTLE MORE
THAN WHAT WE HAD IN MIND IN SUCH A SHORT TIME.
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Sat Aug 30, 2008 12:44 pm Post subject: Re: 2008 Hurricane / Typhoon / Cyclone Season
The Friday before Katrina, oil price increases pulled back due to many energy analysts saying the potential effects of Katrina were "over-hyped".
My memory may be wrong, but I believe the futures exchanges afterward put special rules in effect - otherwise prices would have soared out of sight. That was because deliveries couldn't be made the futures delivery points and the SPR had no electrical power to deliver emergency supplies of oil. _________________ It's already over, now it's just a matter of adjusting.
Posted: Sat Aug 30, 2008 12:58 pm Post subject: Re: 2008 Hurricane / Typhoon / Cyclone Season
DantesPeak wrote:
The Friday before Katrina, oil price increases pulled back due to many energy analysts saying the potential effects of Katrina were "over-hyped".
My memory may be wrong, but I believe the futures exchanges afterward put special rules in effect - otherwise prices would have soared out of sight. That was because deliveries couldn't be made the futures delivery points and the SPR had no electrical power to deliver emergency supplies of oil.
I know price gouging is ordinarily a bad thing, but in the case of a hurricane knocking off line untold amounts of product/infrastructure, wouldn't temporary large price spikes actually be a good thing, political grandstanding notwithstanding? Are traders hands being tied unnaturally because of the latest machinations relative to those "evil speculators" driving prices the wrong way? _________________ Civilization: the biosphere's skin disease
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
News
Discussions
Resources
Members
Forum FAQ
Search
Usergroups
Profile
Log in to check your private messages
Log in
