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WASHINGTON — Internal documents from BP show that there were serious problems and safety concerns with the Deepwater Horizon rig far earlier than those the company described to Congress last week.
The problems involved the well casing and the blowout preventer, which are considered critical pieces in the chain of events that led to the disaster on the rig.
The documents show that in March, after several weeks of problems on the rig, BP was struggling with a loss of “well control.” And as far back as 11 months ago, it was concerned about the well casing and the blowout preventer.
BP Chief Sold Stocks Shortly Before Oil Rig Explosion, Goldman Sachs Sold Shares
Weeks before the Deepwater Horizon oil rig explosion killed 11 and sent anywhere from 23 to 49 million gallons of oil gushing into the Gulf of Mexico, BP chief Tony Hayward sold about a third of his stocks, saving him 423,000 pounds according to Britain’s the Daily Telegraph, or $613,096 US dollars.
After doing so, Hayward paid off the mortgage on his mansion valued at $1,739,280. His total package was valued at $5,797,600.
According to the Daily Telegraph, “There is no suggestion that he acted improperly or had prior knowledge that the company was to face the biggest setback in its history.” Hayward disposed of his stocks on March 17, and BP stock has fallen by 30 percent since then.
Attempts to stem the problem have been dreadfully slow. Obama gave the oil rig a safety award just one year ago, and is the biggest recipient of campaign donations from BP.
Originally posted by HunkaHunka
Yep there is a WSJ article someplace that says they knew about this as early as Feb...
Soooo... what do you do when you know the cost is going to dip... you sell high... and buy back low....
Is there a way to find out when GS buys them back again?
After 60 days the Obama State Department is still “considering” which countries to accept help from.
What Obama Didn?t Do For Oil Spill
President Obama addressed the nation on the Gulf oil spill, and told the American people how he has been doing all he can to ?plug the damn hole? and whose behind he might kick.
Since his strategy dealing with the spill seems lacking thus far, Redstate editor Erick Erickson has compiled a Top 10 list of things to alleviate the disaster that Obama could have done but didn?t.
1. Accepted help from the Netherlands when they offered it shortly after the accident. The Dutch, experienced in the oil business, offered prompt help for oil skimming booms and plans to create barriers to stop the oil from infiltrating into wetland areas.
2. Suspended the Jones Act, as President Bush did after Katrina, to allow foreign vessels into American waters to assist with recovery without having to swap ships and transfer equipment onto American flagged vessels.
3. Suspended the Davis-Bacon prevailing wage laws, as President Bush did after Katrina, to allow rapid deployment of new workers to help with containment efforts.
4. Suspended FEMA contracting and bidding rules, as President Bush did after Katrina, to allow a more rapid assignment of contracts to assist with the recovery effort.
5. Allowed coastal governors to immediately begin dredging to create barrier islands .
6. Talked to BP's CEO to establish initial metrics for progress to gauge BP's response so the federal government would have ascertainable metrics to determine when federal intervention was needed. Heck, he should have talked to BP's CEO period.
7. Not imposed a blanket deep water drilling moratorium, further crippling economies in coastal communities.
8. Talked to experts about how to fix the problem instead of trying to figure out whose "ass to kick."
9. Not waited to act lest he be seen as owning the situation. Guess what? He owns it now so why is he still on the golf course?
10. Not have wasted time trying to blame the accident on George Bush before diving in to take responsibility.
the president and other members of the administration still have jobs when it is now being reported that the federal government was apprised by BP on February 13 that the Deepwater Horizon oil rig was leaking oil and natural gas into the ocean floor.
n fact, according to documents in the administration's possession, BP was fighting large cracks at the base of the well for roughly ten days in early February.
Further it seems the administration was also informed about this development, six weeks before to the rig's fatal explosion when an engineer from the University of California, Berkeley, announced to the world a near miss of an explosion on the rig by stating, "They damn near blew up the rig."
It's also now being reported that BP was asking for the administration's help on this matter long before the deadly accident and the now gushing well of tar.
Obama claims that he backed off from doing anything to stop the oil leak in deference to BP, which he claims was better equipped to deal with the situation. And indeed, that much is true. BP did, in fact, say such a thing publicly.
But BP's interest in actually cutting off the flow of oil into the Gulf is just as suspect as the U.S. Government's.
And here is where the story takes a sordid, and potentially criminal, turn.
Moretti says the following:
NALCO is associated with UChicago Argonne program. UChicago Argonne received $164 million dollars in stimulus funds this past year. UChicago Argonne just added two new executives to their roster. One from NALCO. The other from the Ill. Dept of Education.
If you dig a little deeper you will find NALCO is also associated with Warren Buffett, Maurice Strong, Al Gore, Soros, Apollo, Blackstone, Goldman Sachs, Hathaway Berkshire.
Warren Buffet /Hathaway Berkshire increased their holdings in NALCO just last November. (Timing is everything).
The dispersant chemical is known as Corexit. What it does is hold the oil below the water's surface. It is supposed to break up the spill into smaller pools. It is toxic and banned in Europe.
NALCO says they are using older and newer versions of Corexit in the Gulf.. (Why would you need a newer version, if the old one was fine?)
There is big money and even bigger players in this scam. While they are letting the oil blow wide open into the Gulf, the stakes and profit rise.
The Dolphins, Whales, Manatees, Sea Turtles and fish suffocate and die. The coastal regions, salt marshes, tourist attractions and the shore front properties are being destroyed, possibly permanently.The air quality is diminished. The Gulf of Mexico fishing industry is decimated.
All to create a need for their expensive and extremely profitable poison.
But that's not all. Goldman-Sachs, Blackstone, and Apollo are all involved in NALCO. So is Tony Rezko in Chicago--the infamous friend of Barack Obama who was convicted for fraud. And multi-millions of dollars of taxpayer-funded 'stimulus funds' went into the coffers of many of the main players in NALCO.
Evidence has also been uncovered that as soon as the oil rig blew, the masterminds of the big government-big corporation complex went to work to maximize the financial reward from the disaster--'never let a good crisis go to waste.'
Investors were advised to buy BP stock, and a major symposium was held involving several key players in the Obama Administration, which focused on modern technological advances in developing 'clean water.' NALCO is the major source for such 'technological advances.'
It would appear that some of the main players in the Obama Administration and the 'favored corporations' of Obama's entourage wished to maximize their profits from the oil spill by delaying the cutting off of the oil flow so that the chemical dispersements and water purification systems made by NALCO would be used, thus boosting the profits of the company and the other corporations invested in it, such as Buffett's Berkshire, Goldman-Sachs, Citigroup, Blackstone, and Apollo.
A criminal probe of the Obama Administration is in order at the same time the Justice Department conducts its investigation of BP.