Why was BP Capping Deep Horizon in the first place?

Discussion in 'General Discussion' started by CrusaderFrank, Jul 7, 2010.

  1. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,277
    Thanks Received:
    14,923
    Trophy Points:
    2,210
    Ratings:
    +37,084
  2. Care4all
    Offline

    Care4all Warrior Princess Supporting Member

    Joined:
    Mar 24, 2007
    Messages:
    32,803
    Thanks Received:
    6,627
    Trophy Points:
    1,170
    Location:
    Maine
    Ratings:
    +11,118
    that's a good question CF.

    Why would BP want to cap this well and abandon it temporarily when it was loaded with oil?

    do these oil companies want to keep the well's oil off the market to keep prices higher with supply being kept down?

    what's the purpose of spending all the money to drill and then not extract it?

    I don't get it?
     
  3. dilloduck
    Offline

    dilloduck Diamond Member

    Joined:
    May 8, 2004
    Messages:
    53,240
    Thanks Received:
    5,552
    Trophy Points:
    1,850
    Location:
    Austin, TX
    Ratings:
    +6,403
    I'm guessing it's just a normal trade practice ---drilling and extraction aren't necessarily one continuous process.
     
  4. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,618
    I'm guessing you're right about that.

    They bring existing wells online when the demand (hence price) makes it worth thye expense to pump it out of the ground.

    Drill baby drill so we can gouge the public when it suits OUR purposes.
     
  5. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,277
    Thanks Received:
    14,923
    Trophy Points:
    2,210
    Ratings:
    +37,084
    Obviously there's a severe distortion in the market if withholding supply leads to greater total profits.
     
  6. Mr. H.
    Offline

    Mr. H. Diamond Member

    Joined:
    Aug 19, 2009
    Messages:
    44,127
    Thanks Received:
    9,267
    Trophy Points:
    2,030
    Location:
    A warm place with no memory.
    Ratings:
    +15,419
    Even on land, many wells are drilled and then completed using different rigs. Offshore there's a complex subsea infrastructure that needs to be put in place before production and handling can begin. I swear the paranoid folks around here.
     
    • Thank You! Thank You! x 2
  7. Mr. H.
    Offline

    Mr. H. Diamond Member

    Joined:
    Aug 19, 2009
    Messages:
    44,127
    Thanks Received:
    9,267
    Trophy Points:
    2,030
    Location:
    A warm place with no memory.
    Ratings:
    +15,419
    Although, on the other hand....

    Gulf awash in 27,000 abandoned wells

    More than 27,000 abandoned oil and gas wells lurk in the hard rock beneath the Gulf of Mexico, an environmental minefield that has been ignored for decades. No one — not industry, not government — is checking to see if they are leaking, an Associated Press investigation shows.

    The oldest of these wells were abandoned in the late 1940s, raising the prospect that many deteriorating sealing jobs are already failing.

    The AP investigation uncovered particular concern with 3,500 of the neglected wells — those characterized in federal government records as "temporarily abandoned."
     
  8. Samson
    Offline

    Samson Póg Mo Thóin Supporting Member

    Joined:
    Dec 3, 2009
    Messages:
    27,357
    Thanks Received:
    3,742
    Trophy Points:
    245
    Location:
    A Higher Plain
    Ratings:
    +4,210

    Sheeze.....I thought everyone already knew this.

    Ya know, school systems do a terrific job of educating the public to read about environmental pollution, but a little thing like how we get 99% of the NRG we use is something to be ignored....:doubt:
     
    • Thank You! Thank You! x 1
  9. JimH52
    Offline

    JimH52 Gold Member

    Joined:
    Oct 14, 2007
    Messages:
    19,296
    Thanks Received:
    3,103
    Trophy Points:
    290
    Location:
    US
    Ratings:
    +8,287
    It seems a reasonable explanation would be price manipulation. It would not be in the interest of any oil company to bring too much crude to the market at the wrong time. Maybe they see a price spike in the near future? Boy, did that decision bite them on the ars?
     
  10. JBeukema
    Offline

    JBeukema BANNED

    Joined:
    Apr 23, 2009
    Messages:
    25,613
    Thanks Received:
    1,703
    Trophy Points:
    0
    Location:
    everywhere and nowhere
    Ratings:
    +1,705
    Because one platform drills a well, caps it, and leaves.

    Then a production rig comes in, taps the well, and starts extracting the crude.


    Deepwater Horizon was a drilling rig, not a production rig. It was being capped so DH could go drill elsewhere and a production rig could come in.


    This is offshore drilling 101- and Rachel Maddow has explained it several times
     

Share This Page