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More bads news for the Oil price [ New Topic]
The Designer
4227 Posts
in
United Kingdom
posted by HKBloke 1152 days ago
the largest new oil facility planned in the Americas through 2007 — is tilting and listing 20 to 30 degrees after Hurricane Dennis, and could well sink into the Gulf of Mexico (See picture above). The implication is far reaching because the platform is vital to bringing 250,000 barrels of crude oil to the US market daily this winter. Both BP and ExxonMobil (which owns 25% of the US$6.5bn project) are trying to save this gigantic platform from sinking. But initial rescue efforts are not looking so good, especially with another tropical storm brewing in the Atlantic that could head toward the Thunder Horse which weighs over 50,000 tons, the equivalent of 10,000 full-grown elephants! And it takes at least three years to put this massive thing together...




Regular Member
2757 Posts
in
Hong Kong
posted by sabi 1152 days ago
Peak price is approaching. The market will adjust, although some will reach for their guns.


 
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