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Double Standard June 23, 2010

Posted by hslu in Uncategorized.
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Tony Hayward was criticized by the White House and liberal media  for attending a yacht race on Saturday because that damn hole wasn’t plugged.

Obama got a free pass from liberal media on his golf game on Saturday and Baseball game on Friday night. But on the day of “top kill”, Obama was implying that he was responsible for plugging that “damn hole.”

At last count, Obama also has the following thorny issues to deal with:

  • North Korea’s sinking of a South Korean battle ship.
  • Detection of high radiation levels of Uranium near the boarder of North Korea on May 15th, 2010.
  • Iran’s Nuclear weapon program.
  • Wars on Afghanistan and Iraq.
  • Domestic terrorist attack.
  • Gaza naval blockade by Israel.
  • Turkey turning its back on the U.S.
  • High unemployment rate.
  • Lousy economy.
  • Mounting deficits.
  • Soaring national debt.
  • Double dip on the housing market.
  • Arizona Illegal Immigrants law.
  • Cleaning up oil spills from beaches in LA, MS and FL.

Would you call that a “double standard?”

Feel sorry for BP June 16, 2010

Posted by hslu in Economics, Energy, Global Affair, Obama, Politics.
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I feel sorry for BP’s engineers who have already lost 50% of the value of their 401(k) and their pension may be in danger. Their jobs may be in jeopardy if  BP decide to diversify its deepwater assets.

BP may have to spin off their GoM or US operation and sell it to someone who dare to pick it up. May be China National Oil Company can buy it on the cheap. They have boat (tankers) loads of money and they are anxious to get into the US market. You see about 1/4 of the world oil business is in the US. There is serious money to be made in the United States. Not in the downstream but the upstream!

I am also glad that ExxonMobil wasn’t responsible for the spill.  If it was, ExxonMobil USA may be nationalized by Obama on the day when “Top Kill” failed to “plug that damn hole.” ExxonMobil’s US assets will be liquidated to pay for the damages. All Exxon and Mobil gas stations will change their names to Obama Gas Stations.

Just a week ago Tuesday, I saw  a BP gas station in Vienna closed its door. Many BP gas stations nation wide have reported a 20+% drop in revenue. If this trend continues, many BP gas stations have to close their doors before the leak is stopped.

BP may have to cut its dividend soon, currently at 9.9%, to conserve operating capital. If the first relief well fails to “ply that damn hole” in mid-August, BP may have to declare bankruptcy because BP may run out of money to pay for it. (Sorry I just found out that BP has temporarily suspended the dividend til the end of this year.)

About 12 or 13 years ago when I was still working in the oil industry, I noticed then British Petroleum gradually changed company’s emphasis from technology to “putting on a glossy appearance.” They ran ads on major newspapers and TV to declare BP cared so much about the environment and changed its logo to show that they were a Green company. They down-played their oil business and highlight their involvement in solar energy and other forms of Green energy way before Obama came into the scene.

I commented this observation on BP’s Yahoo BB and voiced my concern on BP’s lack of emphasis on technology which was and still is the central focus of the oil industry. My comments got a lot of negative comments from BP employees.

In a way, I shouldn’t be surprised of this accident because BP has never been known for their technology in our business. In the interest of full disclosure, Mobil wasn’t known for its technology superiority either. That’s why Mobil got bought by Exxon which was and probably still is head and shoulder above everyone else in our business.

Good luck to all BP engineers on your next try to stop this leak.

Obama is like a deer in headlights June 16, 2010

Posted by hslu in Energy, Global Affair, Obama, Politics.
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I am sure that you still remember the day when BP was testing “Top Kill” to stop oil leak from BP’s blowout well.

When it appeared on TV that the method had some hope of stopping the leak, Obama made this comment about his daughter asking him this question in the bathroom : “Daddy, have you plug the hole yet?”

After the “Top Kill” failed to stop the leak, Obama started damage control and try to take himself out of this environmental disaster.

Reported by Washington Post; yes, THE Washington Post:

“The Obama administration is taking steps to distance itself from BP and is dispatching Attorney General Eric H. Holder Jr. to the Gulf to meet with federal and state prosecutors,” the Washington Post reported Tuesday (6/1/2010.)

Hmm, did Obama accomplish anything before MSNBC, CNN, the Main Street liberal news media and younger generation promoted him from a community organizer to the president?

Not a damn thing.

Obama is like a deer in the headlights: eyes open wide and ears pop up in the air but does not know what to do.

I am wondering: has his daughter asked Obama again about him plugging the damn hole?

Main Street News Media against White House June 1, 2010

Posted by hslu in Energy, Global Affair, Obama, Politics.
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When the main street news media begins voicing their concerns about Obama’s lack of leadership is the time when the shit really hits the fan. The tide is turning and the main street news media is impatient. It has happened with the cleaning up effort in Alabama. Dana Milbank of the Washington Post and Maureen Dowd of the New York Times seemed to have turned against Obama instead of kissing his feet just a few weeks ago. Look for more criticism to come from the left for sure.

The United States is facing serious problems in many fronts and it appears that Obama administration showed no leadership and total incompetency in dealing with these problems. The competency of a president is judged by his ability to handle the 3 AM phone calls and how good he is in dealing with unexpected crisis.

But consider the following:

  • Inept response from the U. S. on North Korea’s sinking of a South Korea battle ship;
  • Inability to deal with North Korea’s hostile intention towards the South Korea;
  • The rise of China’s military might: construction of air carriers and 5th generation of fighter jets;
  • The eventuality of a nuclear Iran and the resulting unilateral preemptive military action from Israel;
  • There is no end in sight on the military operation in Afghanistan;
  • The sorry responses from the government on the BP oil spill in the Gulf of Mexico;
  • The elusiveness of Arab-Israel conflicts;
  • The worsening situation of the Gulf of Mexico oil spill;
  • Sky-high unemployment situation;
  • The mounting national debt and deficits;
  • The sorry state of the financial institutions on Wall Street;

Obama said on June 8th that he’ll stop the sea level from rising. He’ll see our planet to heal.It made very good sound bite but did anyone take his word seriously? What did he do to make that happen? Anyone who believed Obama should look into the mirror and see if there is a dummy there.

From all the indications and his speech on Gulf of Mexico oil spill, he tried very hard to distance himself from the oil spill diaster saying that it is BP’s responsibility. What he was trying to say between the lines was that it wasn’t my problem.

It has become his problem now with the failure of the Top Kill.

You said it the other day and I think it is a fair question to ask you:  “Obama, have you plug that hole yet?”

You better soon because there are other crises to be dealt with.  Please consult my list to get an idea of what they are.

Live feed from BP oil well blowout May 27, 2010

Posted by hslu in Energy.
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In case you haven’t seen it:

http://www.cnn.com/2010/US/05/27/gulf.oil.spill/index.html?hpt=T1

The live view link is in the middle of the news article.

I have a feeling that the effectiveness of the “top kill” may be limited.

BP may have to try the procedure again.

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