The Dim-Post

May 4, 2010

Photo of the Day, modern surgical methods edition

Filed under: general news — danylmc @ 1:00 pm

Via the US Department of Energy, the Deepwater Horizon oil rig burns before sinking into the Gulf of Mexico. The oil spill from the disaster is ongoing.

The Big Picture looks at the economic fall-out for the US:

Federal deficit spending will certainly rise by tens, and maybe hundreds, of billions as emergency appropriations are directed at larger and larger efforts to clean up this mess.  At the same time, federal and state revenues tied to Gulf-region businesses will fall.

We expect that the Federal Reserve will extend the timeframe that we have come to know as the “extended period” in the making of its monetary policy.  We do not expect the Fed to raise interest rates at all for the rest of this year, and maybe well into next year.  We expect to see the deterioration of the economic statistics for the US to reveal the onset of this oil-slick crisis in May, and the negative impact will intensify during the summer months.  A “double-dip” recession probably has been made more likely by this tragedy.

Now that I think about it, isn’t it strange we haven’t had our own off-shore rig disaster off Northland? Shouldn’t the 90s National government have scrapped all the safety regulations on the rigs to ‘make them more efficient’? How’d we dodge that catastrophe?

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14 Comments »

  1. http://www.bnet.com/2346-13239_23-419915.html?tag=content;selector-perfector has some nice ones too, 6 and 7 are amazing.

    Comment by xy — May 4, 2010 @ 1:17 pm

  2. Doesn’t James Cameron know that this can all be done on computers now.

    Comment by Neil — May 4, 2010 @ 1:40 pm

  3. It’s fake. Modern surgical methods make such events unpossible.

    Comment by Pascal's bookie — May 4, 2010 @ 1:44 pm

  4. Heh – I’m gonna steal that line and put it in the title.

    Comment by danylmc — May 4, 2010 @ 1:48 pm

  5. Heh, you said “unpossible” Gerry.

    Comment by progger — May 4, 2010 @ 2:09 pm

  6. Don’t worry Northland is already preparing http://www.nrc.govt.nz/News/Bream-Bay-oil-spill-to-test-authorities-/

    Comment by max — May 4, 2010 @ 3:37 pm

  7. The time would seem to be ripe for a lot of ‘drill baby drill + photo’ signs somewhere or other.

    Comment by StephenR — May 4, 2010 @ 3:45 pm

  8. No doubt Brownlee will argue that Icelandic volcanoes cause more damage than
    mining activity.

    OBTW was’nt this mining thing something to do with “catching up” (I never knew we were in a race) with Australia.

    I see OZ is postponing its ETS.

    Whoops we are “winning”.

    Comment by peterlepaysan — May 4, 2010 @ 8:40 pm

  9. I wouldn’t worry about this impacting on the US economy – BP will be made to pick up the tab for the damage the way Goldman Sachs, JP Morgan et al weren’t for all the damage they did. After all, it will suit the US oil interests very well if it gets rid of BP as a competitor.

    Comment by dark horse — May 4, 2010 @ 10:45 pm

  10. “Now that I think about it, isn’t it strange we haven’t had our own off-shore rig disaster off Northland?”

    the complete lack of oil rigs anywhere near Northland seems to have saved us from that one so far…

    Comment by kahikatea — May 5, 2010 @ 8:39 am

  11. “it will suit the US oil interests very well if it gets rid of BP as a competitor”

    i hear wishart scribbling conspiracy theories furiously.

    or rats in the walls.

    it’s hard to tell the difference

    Comment by che tibby — May 5, 2010 @ 11:50 am

  12. As kahikatea points out there are no off-shore wells near Northland. Oh and oil spills won’t show up as badly on Taranaki’s black sand beaches either.

    Comment by Conrad — May 5, 2010 @ 12:50 pm

  13. Speaking of Taranaki oil spills…

    In 2000 the Pohokura-1 exploration well, off Waitara, resulted in three oil spills that spread waxy crude along the coastline at Motunui. Fletcher Challenge Energy was fined $15,000 for the pollution.

    On 21 October 2007 up to 33 tonnes of black crude oil washed onto 14km of the Okato coastline. The spill came from Tui oilfield’s floating production, storage and offloading (FPSO) vessel, Umuroa. The eight-month clean up cost $120,000, and Sydney-based Australian Worldwide Exploration (AWE) and Singapore-based storage company Prosafe Production were fined $105,000. Maritime New Zealand described the incident as the largest-ever crude oil spill in New Zealand and the third-largest oil spill of any type in New Zealand in recent history.

    Comment by Ataahua — May 5, 2010 @ 1:52 pm

  14. nice to know the Feds solution is to rip off its investors who are savers for an indefinite continuance……..not

    Comment by mike — May 6, 2010 @ 5:33 pm


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