Gulf Oil Spill: Wellhead Is Elsewhere?

From the Dylan Ratigan Show on MSNBC on May 26, 2010. Two oil industry experts, Matthew Simmons of Simmons & Company International and Nicholas Pozzi of Wow Energy Solutions discuss the spill, top kill operation, and alternatives to stop the Gulf oil spill.

They don't think whatever is coming out of the pipe on on BP's live cam is not the cause of the giant oil plumes under the Gulf, sucking up oxygen dissolved in the water. They think there is another leak that is causing those plumes and suspect that's where the wellhead actually is, and the use of chemical dispersants in deep water will do more damage than good. 'Hide the enemy' may have been the BP's solution [and I should add, the government solution, too], but that's not what the industry would have done, according to Pozzi.

They both mention a solution using supertankers (or tankers of any size), to which BP has turned a deaf ear.

This should have been a navy operation, they say. A carefully placed bomb would have shut down the well. "We've wasted so much time."

Oh by the way, the casing doesn't have O-rings. BP didn't put them in. No way to seal it, basically.

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Dylan Ratigan, Phil Angelides, Jon Najarian on May 6 Market Meltdown

It was NOT because of a "fat finger"... Listen particularly to Jon Najarian, as he explains how the High-Frequency Trading and flash trading work.

Visit msnbc.com for breaking news, world news, and news about the economy

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Dylan Radigan: Fraudulent Financial Reform

You tell him (Rep. Perlmutter), Radigan!

So the Obama Administration is selling this "one heck of a piece" as "the biggest and best package since the New Deal"? (So are we in a depression after all, no matter what Obama declared the other day?)

One of the things that particularly irked me was that Congressman Perlmutter tried to spin 0.25% tax on trading transaction as "windfall tax" on government-supported (i.e. ill-gotten) gains by big Wall Street banks. 0.25% tax would apply to every investor, large and small. It would punish small retail investors trying to recoup losses from the market crash that was practically caused by the Federal Reserve (loose monetary policy), Wall Street banks (reckless speculation on easy money), and the government (lack of enforcement of whatever regulations that they actually had, as well as dismantling others). And this Congressman proclaims they have the best package since the New Deal.

Well, the New Deal legislations included one that hired a lot of people to come up with 350 different recipes for cooking spinach. One heck of a legislation indeed.

I would say this is the most monstrous piece of you know what since the Glass-Owen Act, aka the Federal Reserve Act.

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