Oil Spill Timeline

[Gaspar]

US Corporate America.  Encompassing all corporations greater than $1 billion in revenues.

So, that's pretty much what I though.  I figured we'd have to go a little further down the road to get the honest answer, but I appreciate your honesty.

You consider "US Corporate America", any business over $1B revenue to be monopolistic and therefore worthy of waging war on?

So should we nationalize businesses over $1b, and perhaps sell off or give away their assets?
What should we do with the money?

[Conan71]

Corporate 'Merica must own this judge then:

A federal judge on Tuesday blocked a six-month moratorium on new deepwater drilling projects imposed after the massive Gulf oil spill.

The White House promised an immediate appeal. President Barack Obama's administration had halted approval of any new permits for deepwater drilling and suspended drilling of 33 exploratory wells in the Gulf.

Press Secretary Robert Gibbs said Obama believes strongly that drilling at such depths does not make any sense and puts the safety of workers "at a danger that the president does not believe we can afford."

Several companies that ferry people and supplies and provide other services to offshore drilling rigs asked U.S. District Judge Martin Feldman in New Orleans to overturn the moratorium, arguing it was arbitrarily imposed.

Feldman agreed, saying in his ruling the Interior Department assumed that because one rig failed, all companies and rigs doing deepwater drilling pose an imminent danger.

"The Deepwater Horizon oil spill is an unprecedented, sad, ugly and inhuman disaster," he wrote. "What seems clear is that the federal government has been pressed by what happened on the Deepwater Horizon into an otherwise sweeping confirmation that all Gulf deepwater drilling activities put us all in a universal threat of irreparable harm."

http://news.yahoo.com/s/ap/us_gulf_oil_spill

[nathanm]

There must be a definition of arbitrary in Black's that isn't in M-W.

I think the oil companies may find it a five month process to get new permits issued or changes made to existing permits, even if drilling continues on wells already in progress.

[Gaspar]

There must be a definition of arbitrary in Black's that isn't in M-W.

I think the oil companies may find it a five month process to get new permits issued or changes made to existing permits, even if drilling continues on wells already in progress.

If so, they will leave for friendly waters. 

[Conan71]

They already are, Gaspar.

[nathanm]

If so, they will leave for friendly waters. 

Yep, for about five months, at which time the now enjoined moratorium will expire.

[Gaspar]

Yep, for about five months, at which time the now enjoined moratorium will expire.

I have a feeling it takes a little longer to motor over, poke the Earth, and suck black-gold.  There's probably a form or something that has to be filled out.

[Conan71]

I have a feeling it takes a little longer to motor over, poke the Earth, and suck black-gold.  There's probably a form or something that has to be filled out.

Well we know you can't just go down there and suck the oil out with a straw.

[nathanm]

I have a feeling it takes a little longer to motor over, poke the Earth, and suck black-gold.  There's probably a form or something that has to be filled out.

There's nothing preventing them from filling out such a form at the present time and submitting it for consideration, although it may be a while before it's approved. And it may be a while longer before they're ready to drill again anyway.

[Gaspar]

There's nothing preventing them from filling out such a form at the present time and submitting it for consideration, although it may be a while before it's approved. And it may be a while longer before they're ready to drill again anyway.

Perhaps the President could charge an extra fee to drill?  They could have the Hamburgerler sell deep water drilling rights.

[nathanm]

Perhaps the President could charge an extra fee to drill?  They could have the Hamburgerler sell deep water drilling rights.

You could actually refute the point rather than making light of what is, by all accounts, a major disaster.

[heironymouspasparagus]

Your words - not mine.  And very specifically contradictory to mine, if they were read at all.  Which obviously weren't.

And the immediate jump to the Fox style excess of nationalize and sell??  Alternate universe moment there, Gaspar.

What I WOULD suggest and what will never happen since the Congress, et. al. are in the pockets, is that Congress should actually do is stop selling the American people down the river.

Shall we raise the level to 5 billion, or 50??

Here is a challenge for you.  Give me an example of real competition in, oh, let's see... how about the oil industry?
(Putting some bounds on it; no fair citing Enron, Devon, and Williams since we already know they all worked together to contrive the California "energy crisis" some years back.  Definitely no competition there.)

Quick question; have you ever wanted or tried to start in the business of your choice and were blocked by the "barriers to entry" raised by the effects of capitalistic monopolism??  (Bar-b-que business is still too small for large company takeover, so you can't use that.  Hidden Valley and their KC Masterpiece doesn't really constitute market domination.)

[Gaspar]

Here is a challenge for you.  Give me an example of real competition in, oh, let's see... how about the oil industry?
(Putting some bounds on it; no fair citing Enron, Devon, and Williams since we already know they all worked together to contrive the California "energy crisis" some years back.  Definitely no competition there.)

Quick question; have you ever wanted or tried to start in the business of your choice and were blocked by the "barriers to entry" raised by the effects of capitalistic monopolism??  (Bar-b-que business is still too small for large company takeover, so you can't use that.  Hidden Valley and their KC Masterpiece doesn't really constitute market domination.)

There are thousands of oil companies ranging from hundreds of thousands to hundreds of billions of dollars.  They all compete in the open market.  Interesting that you should ask such a question because I am part of a small LLC that manages natural gas leases in Cleburn, TX (my grandparents old farm land).  We compete quite fairly with the big boys selling NG.  We only have two wells in production (the second comes online next month).  No one is holding us back.   We have granted Chesapeake access to drill a larger well on an acre this year too.   

The only "barriers to entry" I am aware of is licensing and regulation.  It's expensive but for safety sake, but some of it is necessary.  On the contrary there are several rather large purchasing and leasing groups that help the little guys like us get access to equipment, insurance and specialized services that typically only the big guys can afford.  Chesapeake built us a road to help get our business.

My wife owns a party rental company, and again we are members of industry purchasing groups designed to help the smaller companies compete on level ground with the big guys.  If someone out markets us or provides better product and better service than that's our fault.

My primary income comes from the software industry.  Here again we compete with the billion dollar companies and we compete by offering a better product and better service.  Our competition spends millions on advertising, but our product still maintains a better reputation.  We provide better service, and our engineers, programmers and help-desk people are right down the hall.  We have hundreds of happy clients all over the world.

I see that you are bitter, and obviously have some healing to do from your own experiences.  I think we see the same things, but through different lenses. 

[Gaspar]

[nathanm]

There are thousands of oil companies ranging from hundreds of thousands to hundreds of billions of dollars. 

Some wouldn't call four or five giants and a thousand tiny guys competition. I'm not sure where exactly I stand on that point.

In any event, I don't know how one would get more competition in the business of drilling wells that cost half a billion dollars. On shore, it's much cheaper, thus making it possible for small firms to do some business. I hope for your sake we don't end up having another precipitous crash in natural gas prices.