Tag Archives: Haliburton

Energy Portfolios – Simple Analysis re the Fossil Fuel Portfolio

The Deepwater Horizon Spill

The Deepwater Horizon Spill

“You can’t have oil without oil spills.” – Markwayne Mullin, R, Oklahoma. (Official / GovTrack)

Wind and Sun Won’t Spill

In a period when the Dow Industrials rose 30%, the S&P 500 rose 40%, and the Popular Logistics “Sustainable Energy Portfolio” rose 223%, the “Fossil Fuel Portfolio” rose 21%.

This suggests that a paradigm shift is underway in the energy industry.

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One Month After The Spill BP Siphoning 3,000 Barrels Per Day

Satellite Image of Gulf from New Orleans to Mobile, showing oil slick.

Satellite Image, courtesy of NASA, of Gulf from New Orleans to Mobile, showing oil slick.

Fourth in a series  1, 2, 3, 4) that began on “Earth Day” (0).

Steve Gelsi at Marketwatch (click here) reports that BP is now siphoning 3,000 Barrels Per Day from the Deepwater Horizon Spill. According to research by NPR, the spill was 70,000 barrels per day.  In the 30 days that have elapsed since the April 20 accident a total 2,100,000 to  barrels have spilled.  And BP is siphoning off 3,000 per day. At that rate the spill will be cleaned up in only 700 days if it were to stop gushing now. That’s less than two years.

Greg Bluestein and Michael Kunzelman at Gouverneur Times (click here) report that oil from the slick has entered the Loop Current – which is part of the Gulf Stream.

This could be for fossil fuels what Chernobyl was for nuclear power.

Full text below the click. Continue reading

The Magnitude of the Deepwater Horizon Spill

The oil slick in the gulf

The Surface of the Oil Slick

Third in a series (1, 2, 3) that began on “Earth Day” (0).

BP and the government say they can’t measure the spill on the ocean floor. However, 5,000 barrels per day is reaching the surface and most of the oil – 80%  to 90% – is below the surface. So I thnk it’s  is on the order of 25,000 to 50,000 barrels per day.

But that’s my back-of-the-envelope estimate.  NPR, on Friday, May 14, 2010 reported that Steven Wereley, who teaches mechanical engineering at Purdue University, Tim Crone, a research scientist at Lamont-Doherty, and Eugene Chiang, an astrophysicist at UC Berkeley, believe they can make a pretty reasonable estimate of the amount of oil gushing into the Gulf. Wereley based his estimate on particle image velocimetry analysis of the video BP released. He says says 70,000 barrels per day, give or take 14,000 barrels,  is gushing from the Deepwater Horizon spill. Crone agrees with Wereley but said he’d like better video from BP before drawing a firm conclusion. Chiang estimates the flow at 20,000 to 100,000 barrels per day. 880,000 to 2,200,000 gallons of petroleum products into the Gulf of Mexico Each

DAY! That’s 6,160,000 to 15,400,000 gallons per week.

After 20 days that’s 400,000 to 2.0 million barrels. Each barrel could have been refined into 44 gallons of gasoline, jet fuel, and other petrochemicals.  But even at 5,000 barrels per day – 100,000 barrels in the first 20 days – this is a catastrophic event.

President Ronald Reagan

President Reagan

One hundred years from now, when historians, in energy efficient homes and offices powered by wind, solar, and geothermal, write about the end of the era of fossil fuel, they will point to the April 5, 2010 disaster at the Upper Big Branch, W. Virginia coal mine and the April 20, 2010 catastrophe at the Deepwater Horizon oil rig in the middle of the Gulf of Mexico.

Historians may assign responsibility to the energy policies of President George W. Bush and Vice President Cheney. They will note that President Carter put solar water heating system on the roof of the White House (click here for pdf) and President Reagan took them down in 1986. Their assessment of President Obama will be predicated on his next actions. Does he continue to embrace “Drill Baby Oops,” Coal with Carbon Sequestration, and Nuclear Power? Or do a 180 degree turn to sustainability?

President George W. Bush

Pres. George W. Bush

I don’t know what the pressures are at a depth of 5000 feet below the surface of the ocean. But there’s methane ice down there. At atmospheric pressure, Liquid Methane freezes is at -182.5 °C and methane gas liquifies at -181 °C (here)

The most important questions are:

What will be the effect of all that oil on fishing, tourism, the weather and the climate? It could be good for the maple syrup, solar power, and wind power industries, and the locavore food movement.

President Obama

President Obama

Given the severity of the spill, and what it demonstrates about our ability to operate at 5,000 feet below the surface of the ocean, I think we should rethink the Purgen Coal with Carbon Sequestration Plant, which will pump carbon dioxide into a well a mile below the ocean.

In addition, NPR reported on May 12, (here) that a House investigative subcommittee said Wednesday that the blowout preventer, had multiple defects — everything from leaky hydraulics to a dead battery.

How did it happen? BP and Transocean say the rig was built to handle working pressures of 20,000 PSI, but the safety equipment was built for pressures of 60,000 PSI.  Clearly, the upward pressure released by drilling 18,000 feet below the ocean floor, itself at a depth of 5,000 feet below sea level, exceeded the 60,000 PSI – that’s 60,000 pounds per square inch. In terms of reference, atmospheric pressure at sea level is 14 PSI. For more information and an exploration of this,  Click Here to “Moore Think, Less Confusion.

Full text of both articles by NPR are reproduced below the fold Continue reading

Negligence at KBR Killed Americans

KBR, through negligence, kills Americans in Iraq. Staff Sgt. Ryan Maseth, 24, of Pittsburgh, serving in Iraq was killed while taking a shower in his barracks in Baghdad . (Military.com.

An Army investigation called the electrocution death of a U.S. Soldier in Iraq a “negligent homicide” caused by military contractor KBR Inc. and two of its supervisors

Sgt. Maseth was one of several soldiers killed by electrocution in the shower. 

KBR, the firm once owned by Haliburton, the oil services firm once run by Dick Cheney, built the barracks, installed the shower, and apparently connected the electrical wiring to the plumbing, in violation of building codes and common sense and without oversight.

Q: Why is an oil services firm supporting a military operation? 

A: Because, according to Alan Greenspan, it’s a war for oil (click here).

Q: Will KBR be held accountable?

A: I certainly hope so.