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Wayne Madsen

Wayne Madsen

Wayne Madsen is a Washington, DC-based investigative journalist, author and syndicated columnist. He has written for The Village Voice, The Progressive, Counterpunch, Online Journal, CorpWatch,…

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The Cover-up: BP's Crude Politics and the Looming Environmental Mega-Disaster

WMR has been informed by sources in the US Army Corps of Engineers, Federal Emergency Management Agency (FEMA), and Florida Department of Environmental Protection that the Obama White House and British Petroleum (BP), which pumped $71,000 into Barack Obama's 2008 presidential campaign -- more than John McCain or Hillary Clinton, are covering up the magnitude of the volcanic-level oil disaster in the Gulf of Mexico and working together to limit BP's liability for damage caused by what can be called a "mega-disaster."

Obama and his senior White House staff, as well as Interior Secretary Ken Salazar, are working with BP's chief executive officer Tony Hayward on legislation that would raise the cap on liability for damage claims from those affected by the oil disaster from $75 million to $10 billion. However, WMR's federal and Gulf state sources are reporting the disaster has the real potential cost of at least $1 trillion. Critics of the deal being worked out between Obama and Hayward point out that $10 billion is a mere drop in the bucket for a trillion dollar disaster but also note that BP, if its assets were nationalized, could fetch almost a trillion dollars for compensation purposes. There is talk in some government circles, including FEMA, of the need to nationalize BP in order to compensate those who will ultimately be affected by the worst oil disaster in the history of the world.

Plans by BP to sink a 4-story containment dome over the oil gushing from a gaping chasm one kilometer below the surface of the Gulf, where the oil rig Deepwater Horizon exploded and killed 11 workers on April 20, and reports that one of the leaks has been contained is pure public relations disinformation designed to avoid panic and demands for greater action by the Obama administration, according to FEMA and Corps of Engineers sources. Sources within these agencies say the White House has been resisting releasing any "damaging information" about the oil disaster. They add that if the ocean oil geyser is not stopped within 90 days, there will be irreversible damage to the marine eco-systems of the Gulf of Mexico, north Atlantic Ocean, and beyond. At best, some Corps of Engineers experts say it could take two years to cement the chasm on the floor of the Gulf.

Only after the magnitude of the disaster became evident did Obama order Homeland Security Secretary Janet Napolitano to declare the oil disaster a "national security issue." Although the Coast Guard and FEMA are part of her department, Napolitano's actual reasoning for invoking national security was to block media coverage of the immensity of the disaster that is unfolding for the Gulf of Mexico and Atlantic Ocean and their coastlines.

From the Corps of Engineers, FEMA, the Environmental Protection Agency, Coast Guard, and Gulf state environmental protection agencies, the message is the same: "we've never dealt with anything like this before."

The Obama administration also conspired with BP to fudge the extent of the oil leak, according to our federal and state sources. After the oil rig exploded and sank, the government stated that 42,000 gallons per day was gushing from the seabed chasm.  Five days later, the federal government upped the leakage to 210,000 gallons a day.

However, WMR has been informed that submersibles that are  monitoring the escaping oil from the Gulf seabed are viewing television pictures of what is a "volcanic-like" eruption of oil. Moreover, when the Army Corps of Engineers first attempted to obtain NASA imagery of the Gulf oil slick -- which is larger than that being reported by the media -- it was turned down. However, National Geographic managed to obtain the satellite imagery shots of the extent of the disaster and posted them on their web site.

There is other satellite imagery being withheld by the Obama administration that shows what lies under the gaping chasm spewing oil at an ever-alarming rate is a cavern estimated to be around the size of Mount Everest. This information has been given an almost national security-level classification to keep it from the public, according to our sources.

The Corps and Engineers and FEMA are quietly critical of the lack of support for quick action after the oil disaster by the Obama White House and the US Coast Guard. Only recently, has the Coast Guard understood the magnitude of the disaster, dispatching nearly 70 vessels to the affected area. WMR has also learned that inspections of off-shore rigs' shut-off valves by the Minerals Management Service during the Bush administration were merely rubber-stamp operations, resulting from criminal collusion between Halliburton and the Interior Department's service, and that the potential for similar disasters exists with the other 30,000 off-shore rigs that use the same shut-off valves.

The impact of the disaster became known to the Corps of Engineers and FEMA even before the White House began to take the magnitude of the impending catastrophe seriously. The first casualty of the disaster is the seafood industy, with not just fishermen, oystermen, crabbers, and shrimpers losing their jobs, but all those involved in the restaurant industry, from truckers to waitresses, facing lay-offs.

The invasion of crude oil into estuaries like the oyster-rich Apalachicola Bay in Florida spell disaster for the seafood industry. However, the biggest threat is to Florida's Everglades, which federal and state experts fear will be turned into a "dead zone" if the oil continues to gush forth from the Gulf chasm. There are also expectations that the oil slick will be caught up in the Gulf stream off the eastern seaboard of the United States, fouling beaches and estuaries like the Chesapeake Bay, and ultimately target the rich fishing grounds of the Grand Banks off Newfoundland.

WMR has also learned that 36 urban areas on the Gulf of Mexico are expecting to be confronted with a major disaster from the oil volcano in the next few days. Although protective water surface boons are being laid to protect such sensitive areas as Alabama's Dauphin Island, the mouth of the Mississippi River, and Florida's Apalachicola Bay, Florida, there is only 16 miles of boons available for the protection of 2,276 miles of tidal shoreline in the state of Florida.

Emergency preparations in dealing with the expanding oil menace are now being made for cities and towns from Corpus Christi, Texas, to Houston, New Orleans, Gulfport, Mobile, Pensacola, Tampa-St.Petersburg-Clearwater, Sarasota-Bradenton, Naples, and Key West. Some 36 FEMA-funded contracts between cities, towns, and counties and emergency workers are due to be invoked within days, if not hours, according to WMR's FEMA sources.

There are plans to evacuate people with respiratory problems, especially those among the retired senior population along the west coast of Florida, before officials begin burning surface oil as it begins to near the coastline.

There is another major threat looming for inland towns and cities. With hurricane season in effect, there is a potential for ocean oil to be picked up by hurricane-driven rains and dropped into fresh water lakes and rivers, far from the ocean, thus adding to the pollution of water supplies and eco-systems.

This story contributed by the Wayne Madsen Report for Oilprice.com - the number 1 source for oil prices

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  • Anonymous on May 06 2010 said:
    The end is here and we brought it upon ourselves. If you don't think it's going to affect you, you're sadly mistaken. Better stock up now.
  • Anonymous on May 06 2010 said:
    The potential for this catastrophe to morph into the greatest environmental disaster is indeed real - I simply hope your sources are wrong. Green technology is making great progress, but not great enough to replace the 11% of the oil America gets from her offshore rigs, at least not for another 20 years. With that said, if the worst case scenario does transpire, and 40,000 barrels, or 1.6 million gallons, of oil begin pumping daily into the marine ecosystem, I think you can safely say that popular rage will shut down America's offshore industry for 20 years.
  • Anonymous on May 06 2010 said:
    What really angers me is the bimbos at the MMS rubber stamping exemptions from safety studies, as well as the word coming out that BP decided against an extra safety valve 200 feet below the well-head. Additionally, Halliburton may have done a poor job sealing the well-head with concrete, and the rig operators on Deep Horizon ignored signs of gas buildup in the riser. It is tragic, how short sighted and stupid people can be, acting against their own long-term interests for short term rewards.
  • Anonymous on May 07 2010 said:
    :sad: :sad: :-x :cry: wow the greed of these people has got to come to an end! Any more greedy disasters and us humans are not gonna take it anymore, revolt and tell our governments they are corrupt and let us live our lives. now we have to live with one of the biggest ecological & economically, human created, environmental disaster this world has ever seen, if it is true water has conciseness, than karma is a bitch! Love to everyone!
  • Anonymous on May 07 2010 said:
    As someone that lives on the Gulf Coast, and is in the path of the spill, I can tell you that we are scared to death. Business is already dead. One of my clients lost $550,000 of rental bookings in a 72 hour window this week. My business went from doing about $2,000 a week, to only $300 since the spill. We are getting no assistance from the government. Nothing from BP. We don't have any officials telling us were to go for assistance. It is going to devastate the tourist industry where we live.I tell everyone this to say this. Don't argue the damn politics of this now. Now is the time to help if you can help and pray if you can't. You are talking about LIVES getting destroyed. ECOSYSTEMS getting destroyed. Can we not wait to talk about the politics of it, after those of us in the path of this don't have their lives hanging in the balance?
  • Anonymous on May 07 2010 said:
    Political coruption + Reckless greed = Death
  • Anonymous on May 07 2010 said:
    Galveston , Texas : This is where I am currently a resident, and there are still Windstorm damaged homes and business's that have been totally ran out of town. The seafood industry is what supported the galveston Community alot the last year. They have/were tossing around the idea of putting in Casino's there to make the city come alive again. Well, now they have what they need if tey can direct this oil in the right direction. ON A SIDE NOTE, I LOVE THE BEACH AND TAKE MY KIDS THERE OFTEN. ABOUT A YEAR AGO, I NOTICED BLACK BLOBS WASHING UP ON SHORE, I PROBABLY SAW 20-30 in the few hours we were there. There has always been loose oil out in the gulf. Whenever you are doing this much drilling, its inevitable not to have some wash up. I wonder how much damage that has done on the ocean besides the major leaks like this one that they have had to report. Anyhow, keep you guys informed on what i see. And will try and get some pictures as well.
  • Anonymous on May 07 2010 said:
    I think the point is, we may all be "in the path of it". It is not the politics at the root of this, that is merely a symptom. The root issue is about greed and the desire of a few to have far, far more than the many without concern for the general well being of their fellows. Maybe this is the beginning of a new world order of a different kind. The greed heads are blowing it and causing incomprehensible pain and damage to people and our planet. We have to stop this, before the few gluttons amongst us, take us all down with them.
  • Anonymous on May 07 2010 said:
    So while our guvment is sitting on their hands figuring out how to protect BP our beaches, fishing industry and pretty much our whole way of life is being destroyed? Exactly what I'd expect out of a bunch of incompetent lawyers. I've got an idea! How about getting this thing capped figuring out how much it cost to do it and then figuring out how much BP is responsible for? Oh wait, because BP is in bed with our guvment and we're going to fit the bill for their incompetence once again! You wonder why these empty suits can't stand the Constitution? Because they are exactly what the Constitution protects us from. Where's all the rich folks throughout the world who are planning this Global Guvment who could come to our aide? That's right, they just care about lining their pockets with our gold. They really don't give a crap about you or I or saving the environment. It's just about how to remain in power and crap on our faces. When are the people going to wake up?
  • Anonymous on May 07 2010 said:
    My heart goes to you Ma. I live in FL and reading this article just killed me. I'm always in the water here. I can't believe in a time when our guvment should be doing something other than playing politics as usual WE THE PEOPLE are getting screwed coming and going. It's gone far enough! We shouldn't have to wait till elections to get these traitors thrown out on their butts. It time for a clean sweep in our guvment. Impeach every last one of them for their corruption and greed. Article 2 Section 4 of THE US CONSTITUTION!The President, Vice President and all civil Officers of the United States, shall be removed from Office on Impeachment for, and Conviction of, Treason, Bribery, or other high Crimes and Misdemeanors.They've stolen our money through bailouts, gotten us deeper and deeper in war to where now we're their enemy if we speak out about their corruption and still we sit back and complain. It's going to get ugly in this country.
  • Anonymous on May 07 2010 said:
    Why are we drilling at such extreme depths? We have natural gas aplenty. The shale gas deposits which we can access now with the technology brought online over the last 5 years are massive. We are talking centuries of relatively clean fuel.To give you an idea of how much we could convert all coal and nuclear plants and all autos to run on it and still have 5-6 decades of fuel. It is truly a massive gift dropped in our laps. Unless we are lazy, complacent and downright stupid beyond belief (could happen but I hope not) we can figure out making renewables cost effective and bring the LiFTR nuclear tech online way before the gas runs out.Why bother take the risk with drilling in these extreme depths and threatening fisheries around the world? It makes no sense.
  • Anonymous on May 07 2010 said:
    The gears of the machine are grinding to a halt. They are manufacturing disasters and crashing the economy to seize control of the masses. Either that or they really are this stupid in which case we are all doomed anyway. Welcome to the brave new world. Take your Soma and relax. Theres nothing to worry about. Its just the end of the world.
  • Anonymous on May 07 2010 said:
    NIGHTMARE!! PURE HELL!! I KNOW because I am a VICTIM of the 1989 EXXON VALDEZ OIL SPILL in Prince William Sound,ALASKA. The oil industry is killing our way of life on the oceans and shorelines. THIS MUST STOP!!!! POISONING the ENVIROMENT and the people who depend on those resoruces!!!!
  • Anonymous on May 07 2010 said:
    On a side note, Exxon still hasn't paid any money, they have kept it in the courts this long!
  • Anonymous on May 07 2010 said:
    ALL of BP assets should be confiscated and used for the cleanup and compensation. If any is left after this is completed, it can be returned to them. NOT ONE CENT of any gov. money should be used for any of this.
  • Anonymous on May 07 2010 said:
    Time for me to awake? I have the solution to all earths problems. All on earth focus collective thought at the same time. Everyone stops the pursuit for money and stuff to solve this problem. There are no limits to collective thought.
  • Anonymous on May 08 2010 said:
    Total money donated by BP to Obama's campaign: $71,000Total money raised by Obama's campaign: $500,000,000+For those who have problems in math, that means BP gave less than 0.02% of the total money Obama had.Why again should Obama worry about protecting this "large" donor?
  • Anonymous on May 08 2010 said:
    [quote name="Tim"]Why are we drilling at such extreme depths? We have natural gas aplenty. The shale gas deposits which we can access now with the technology brought online over the last 5 years are massive. We are talking centuries of relatively clean fuel.To give you an idea of how much we could convert all coal and nuclear plants and all autos to run on it and still have 5-6 decades of fuel. It is truly a massive gift dropped in our laps. Unless we are lazy, complacent and downright stupid beyond belief (could happen but I hope not) we can figure out making renewables cost effective and bring the LiFTR nuclear tech online way before the gas runs out.Why bother take the risk with drilling in these extreme depths and threatening fisheries around the world? It makes no sense.[/quote]America's crude oil and Natural gas is in decline, that is why.
  • Anonymous on May 08 2010 said:
    (((box over oil gusher has just been removed due to build up of ice)))
  • Anonymous on May 08 2010 said:
    [quote name="Mac"]As someone that lives on the Gulf Coast, and is in the path of the spill, I can tell you that we are scared to death. Business is already dead. One of my clients lost $550,000 of rental bookings in a 72 hour window this week. My business went from doing about $2,000 a week, to only $300 since the spill. We are getting no assistance from the government. Nothing from BP. We don't have any officials telling us were to go for assistance. It is going to devastate the tourist industry where we live.I tell everyone this to say this. Don't argue the damn politics of this now. Now is the time to help if you can help and pray if you can't. You are talking about LIVES getting destroyed. ECOSYSTEMS getting destroyed. Can we not wait to talk about the politics of it, after those of us in the path of this don't have their lives hanging in the balance?[/quote]Live in Shreveport, really praying for you guys. Have faith God will see us all through this.
  • Anonymous on May 08 2010 said:
    @Tim"Why are we drilling at such extreme depths? We have natural gas aplenty. The shale gas deposits which we can access now with the technology brought online over the last 5 years are massive. We are talking centuries of relatively clean fuel."You don't know what you are talking about, get some real information
  • Anonymous on May 09 2010 said:
    [quote name="Mac"]As someone that lives on the Gulf Coast, and is in the path of the spill, I can tell you that we are scared to death. Business is already dead. One of my clients lost $550,000 of rental bookings in a 72 hour window this week. My business went from doing about $2,000 a week, to only $300 since the spill. We are getting no assistance from the government. Nothing from BP. We don't have any officials telling us were to go for assistance. It is going to devastate the tourist industry where we live. [/quote]What kind of assistance do you want from the government (i.e. the taxpayer). It seems to me that you should be approaching BP for help and not the government. Not sure what kind of help you want or need. I am sorry that you live in an area that is being devastated, that is the luck of the draw for anyone.
  • Anonymous on May 09 2010 said:
    i keep hearing about the oil in the water, so much oil... the effects are huge, but what happens after the first hurricane rolls threw this year, picking up alot of that oil and raining it down on shore, how far north could it reach????
  • Anonymous on May 09 2010 said:
    Anyone who drives a car for than the utmost urgent reason contributes to these oil giants quest to supply you with the oil you want for your car. Get rid of cars now.
  • Anonymous on May 10 2010 said:
    With over 2 BILLION gallons of heavy crude Oil which specifically contains nearly 50% Asphalt, I'm sure something will come up before all 2 BILLION gallons is squeezed out of the Mercado Field by the enormous pressure of the Ocean at 5,000 feet deep (over 2,000 lbs per square inch).Since Asphalt is nearly non-biodegradable it's a sure bet a great percentage of those toxic cancerous Petro-Chemicals are going to remain in the Gulf of Mexico for decades joining the largest pre-existing DEAD ZONE in the entire world and greatly expanding it. A monument of morass to the Republican Big Oil greed.
  • Anonymous on May 10 2010 said:
    The official misinformation and cover-up for this disaster is unprecedented since the collapse of the Soviet Union. Yes we can!The Gulf of Mexico will become Obama's own Aral Sea. Good job by the Marxists.
  • Anonymous on May 10 2010 said:
    @Tim: That wonderful new technology of getting natural gas from shale deposits involves pumpin millions of gallons of a toxic stew into those deposits to break up the shale and release the gas. This results in the contamination of the ground water. So instead of ruining the salt water of the Gulf, you destroy the fresh water source for drinking and irrigation.Educate yourself about it at www.un-naturalgas.org
  • Anonymous on May 10 2010 said:
    The oil companies are focused and concerned to keep making record profits, but are lacking empathy towards the thousands of tourist businesses they hurt through these disasters. They cause such pain on humanity and the eco-system, yet arrogantly and blindly fight for their "rights" in court. Amazing!!! Their ability to exact profit must be based on their ability to safely harvest oil in order for our world to be safe for all mankind, animals, and plants (living things).
  • Anonymous on May 10 2010 said:
    Dick Cheney took the Audio BOP swith off the list of drillers requirements during his closed door energy meetings. VP Cheney relaxed the drilling standards and allowing this to happen
  • Anonymous on May 11 2010 said:
    Sorry folks any or ALL bailouts are reserved for BIG BANKS only;Put any notions of that to rest right nowThey may be LOANS avialable to clean up/rebuild business
  • Anonymous on May 12 2010 said:
    This is worse than 9-11.
  • Anonymous on May 12 2010 said:
    We need to gear up for cleaning this mess. There is no reason why we can't retrofit a portion of our submarine fleet with filtration systems and storage tanks for crude. If we build up our extraction of crude to be higher than the dumping of crude, we can at least begin to stop the problem until the ocean of crude looses enough pressure...even if it takes years. Hell, they've been spraying the skies now for 13 years with BaO2 and AlO2. Let's just filter seawater until the well goes limp. We have desalinization plants to filter everything else out of seawater, why can't we just filter crude out?
  • Anonymous on May 13 2010 said:
    It is time to change all of society and we have the power to do so if enough listens and get the message that I been reading here today.We need to elimate the cause of greed and destruction of the planet.To see how go to the Venus project web page. TheVenusProject.com and theZeitgeistmovement.com[quote name="Mike"]I think the point is, we may all be "in the path of it". It is not the politics at the root of this, that is merely a symptom. The root issue is about greed and the desire of a few to have far, far more than the many without concern for the general well being of their fellows. Maybe this is the beginning of a new world order of a different kind. The greed heads are blowing it and causing incomprehensible pain and damage to people and our planet. We have to stop this, before the few gluttons amongst us, take us all down with them.[/quote]
  • Anonymous on May 19 2010 said:
    When people see dead dolphins, manatees, birds and other marine wildlife wash up on the beaches the anger of the entire population of the states affected by the oil spill will mount and BP had better clean it up fast or the stink will drive people away and it is possible that entire cities will be forced to evacuate. Yes, I agree that BP should be nationalized by the U.S. government so as to insure they will not pick up stakes and never return to the U.S. and never pay the claims that it will be ordered by the courts to pay. Millions of of people will lose their jobs and livelihood for the rest of their lives and will BP pay those people for the rest of their lives? I seriously doubt it. All of the assets of BP need to be seized by the U.S. government now and not later as BP will leave the U.S., never pay what they said they will pay and never have any dealings with any U.S. firm as there will be a court order preventing any U.S. firm from dealing with BP.
  • Anonymous on May 21 2010 said:
    this is one horrible disaster for all living creatures of the earth.once again greedy bastards have taken and killed another part of our country.this mess will never b cleaned up.animals will die, eco systems will die ,and eventually we will die as well,from all the pollution in our air ,land ,and water.our lives as we know them,are quickly comming to an end.what are we leaving behind for our children?tell me how are we supposed to be proud americans,when surrounded by disgrace.
  • Anonymous on May 23 2010 said:
    don't look to natural gas too quickly. we are headed toward a back to nature experiment we are not prepared for. the natural gas shale hydrofracking has similar potential for disaster - especially the horizontal drilling. The toxic escape into the aquafirs in the vicinity cannot be cleared from the drinking water. Freedom, NY will NEVER have fresh drinking water again from a toxic hydrofracking accident. One town, but if the wells get contaminated, the entire aquafir is at risk.
  • Anonymous on May 25 2010 said:
    This is the most disgusting mess I have ever heard of. America's political structure is a failure, and the greed and war mongering "Elites" should be hanging from lamp poles. No one but an absolute moron can fail to see that unending competitive consumption based capitalism is on the face unsustainable. America used to be a country of pride and hope. Thanks again, for the war in Iraq, the Exxon valdez, the global financial crisis, and the Gulf of Mexico. When will people wake up?
  • Anonymous on May 29 2010 said:
    Is it really possible that no one powerful person in the world can stand up and say out loud, "We must all pull together now to stop this monstrous thing from occurring! We must all work together to stop the destruction that is threatening our entire nation!"Is there no one? No President, or government agent, or reporter or business leader or ANYONE? No one will stand up and say, We must stop this!"Damn, what would it take to start a nationwide cleanup movement? Kids are getting out of school for summer. Why not start a government-paid conservation corps?
  • Anonymous on June 05 2010 said:
    Unlike most of you, I am not optimistic that this obscene screw-up is going to usher in a new era of energy independence for us. Our energy infrastructure is hard-wired for petroleum - it will take 20 years to fundamentally change it - the corporate bullies know this and they will continue to grind away until they get their way.
  • Anonymous on June 06 2010 said:
    I wonder if BP will have to file bankrupcy over this when Obama initiates a federal boycot and claims and law suits keep stacking up.
  • Anonymous on June 07 2010 said:
    I say DEATH BY DROWNING IN THE OIL SOAKED GULF FOR ALL AT BP and whoever else is involved.
  • Anonymous on June 07 2010 said:
    As far as nationalizing BP goes, The IRS cofiscated a brothel in Nevada and could not make a profit. If the federal government cann't make a profit running a whorehouse in a state where prostitution is legal, do you really think it can run the third largest refinery in th US? That would be the BP reinery at Texas City, Tx. That is just one of BP's assets in the US. BP should be forced to SELL it's US assets to Exxon or Shell and the money used for the Gulf disaster.
  • Anonymous on June 07 2010 said:
    I am tickled to death that we have such a "seasoned and knowledgeable" administration to deal with this. It is particularly warming to learn that they are also protecting those who paid for their campaigns. Glenn Beck is correct... we have done it to ourselves. Let's just go ahead and pledge our unfaltering allegiance to them rather than some old parchment called the Constitution. While we're at it, let's go ahead and dispose of the Bill of Rights. Dictators don't require such documents... nor do they typically abide by them.
  • Anonymous on June 07 2010 said:
    this is the worst global disaster ever in TIME!!!as we know it the blackness will cover our own minds we are all doomed to see the end of time man was never meant to take this precious substance called OIL really i hope that some higher power will save us!!!!
  • Anonymous on June 08 2010 said:
    IMPORTANT -BP sold 45%of its shares two weeks before the disaster - same game as 9/11.ENVIRONMENTAL TERRORISTS. All people of the world should unite and sue BP. :cry:
  • Anonymous on June 08 2010 said:
    Oilgeddon will make Obamageddon look like a baby lamb.Speaking of lambs, check out The American Sheeple website. Click on the top scrolling banner for the latest on Oilgeddon. You'll be glad you did.Baaa!
  • Anonymous on June 08 2010 said:
    The planet is being prepared to witness supernatural solutions, including salvation from supernatural deception.
  • Anonymous on June 08 2010 said:
    Please explain the math behind the following claim in the story: "..if its [BP] assets were nationalized, could fetch almost a trillion dollars for compensation purposes."?How do you get $1T from privatising BP? Do you liquidate and sell all their assets (minus their liabilities)? Your best estimate of what you could 'get' from privatising BP is to look at their market value before the spill. I say this is your 'best' estimate because the markets not only account for the value of cash and other fixed assets and liabilities, more importantly, they place a value on all the oil they own and have access to refine. It is currently 'only' trading at a market capitalisation of $115B due to the spill. However, before the spill BP was valued at almost twice that, say $230B. How do you "get" $1T from a $230B company?
  • Anonymous on June 08 2010 said:
    What the US Government won't tell you is that we haven't needed oil for over 50 years! We've been using Tesla free energy technology in secret since the 60's at least! Tesla had the technology working almost 100 years ago and the US Government got all of his notes and papers on it upon his death. Many whistle blowers have come forward that have worked on this technology - it's REAL! The US Government is responsible for this oil spill and all others because they have kept this technology away from humanity to milk us like cows for a fuel we don't need. This is the dirty little secret. Google "project nsearch" to learn what else they have lied to you sometime.
  • Anonymous on June 08 2010 said:
    I predict many many starving and dying people on the earth. What will we do if we can not use the oceans for our food supply?
  • Anonymous on June 08 2010 said:
    I am certain NOBODY truly has a concept of EXACTLY what this will cause to happen in the long term. Between the oil and the chemical dispersants, I fully expect this WILL kill most life in the Gulf Coast area. Additionally, when a massive die off of such nature occurs, it will effect ecosystems worldwide. The Gulf Loop current will keep things in circulation for years, and anything that can follow the currents up the East Coast, into the Grand Banks, and over to Europe. We truly do not understand the inter-connectedness of the planet,. Unfortunately. we are now going to find all this out the hard way. Well, get ready, 'cause it's coming.
  • Anonymous on June 08 2010 said:
    The US does not use its natural gas reserves for automobiles because doing so would collapse the world's oil market and cost millions of US jobs; almost everyone would be able to fill up their car with natural gas connections at home.
  • Anonymous on June 08 2010 said:
    The end is here but we did not bring it upon ourselves. The same names keep popping up or have you NOT noticed. The federal government reads like a phone book from tel aviv and the jews that did 9/11 are back again folks. This time to finisht the job for their Rothschild handlers and the Kenya puppet that the Cool-Aid, mudBall watching sheeple thought they could trust. The Big Sleep is here..... :zzz
  • Anonymous on June 08 2010 said:
    Other rigs in the gulf pump out 150,000 barrels of oil PER DAY!SO- that means this well is also spewing about about 100K-150K per day, TOO.There is a blackout on the amount of oil in the gulf "the gulf of oil" that is. - yes its a conspiracy, of great magnitude.
  • Anonymous on June 08 2010 said:
    they wont freeze the assets of bp because bp is mostly owned by trans com which is an AMERICAN company.
  • Anonymous on June 08 2010 said:
    [Word on the street is there is a massive mineral deposit under the wetlands. In order to condemn this area the wetlands have to be dead.Besides WW111 the oil spill check out the polar shift Planet X no one can hide from it December 21, 2010
  • Anonymous on June 08 2010 said:
    people get what they deserve. maybe not everyone deserves hell, but once people have been reduced to a state of dependence, the game is all but over. dependence breeds those with power, which always corrupts.anyway, intentional or not, maybe it opens a few more eyes and ears. these things would not happen if we were true to the pre-1859 Constitution, and remained a country of land-owner electors, living fairly independently.for everything would be under the care of the land-owers, and in their interests. at this time, our "voter democracy" is ruled by landless dependents that generate a corrupt power structure. so can you really expect otherwise?
  • Anonymous on June 09 2010 said:
    I am shocked that we are not only trying to appease ourselves of our complicity in this, but that we want to go even deeper into ecology-destroying madness. SHALE??!! Do you know how much water shale production uses? Would you like a glass of water with that SUV? Not to mention the toxic mess left over. Same with the oil sands x 1000.We have truly and literally become insane with our addiction to oil. If we really wanted to do something intelligent, we'd STOP BUYING $H!T.
  • Anonymous on June 10 2010 said:
    I have been in contact with a company that has a product that can get rid of most but all of the surface and lower oil. Right now it is going thur EPA approval. The product is a microbe. It was used in Galveston, TX on a tanker spill. It work beyond expectations. It is already approved in FL but the are waiting to be called.The microbes are natural and eat the oil and then die with no toxic effects to marine life. I am waiting to hear when it is approved.The recovery time will be about 3 months I think. If it had been started sooner, recovery would have been sooner. If approved it can be a on going and keep the oil at bay until it is capped.
  • Anonymous on June 10 2010 said:
    Lets get our facts right - Oil Spill BP owned well that blew Transocean owned the rig & Halliburton Co conducted key tests right before the event http://bit.ly/dmw2cobefore condemnationAn investigation is required. I don´t know for sure but the operatives on the rig were probably all Americans. They say the BP instructions were to cut corners but can we see this in black and white - Remember you are innocent until proove guilty. Here on this website you report "Obama administration also conspired with BP"Who should go then Hayward´s head or Obama´s head?
  • Anonymous on June 10 2010 said:
    There isn't a "chasm" that has to be cemented,it is a BOP that is malfunctioning and until we have proof of other sources of oil we should refrain from repeating them online.Little fibs may make great conversation,but the truth(which is paramount) gets lost in the chatter.
  • Anonymous on June 10 2010 said:
    What really angers me is the bimbos at the MMS rubber stamping exemptions from safety studies, as well as the word coming out that BP decided against an extra safety valve 200 feet below the well-head. Additionally, Halliburton may have done a poor job sealing the well-head with concrete, and the rig operators on Deep Horizon ignored signs of gas buildup in the riser. It is tragic, how short sighted and stupid people can be, acting against their own long-term interests for short term rewards.you really shouldn't say that the workers ignored signs... they were told by bp to stop with the mudd and use seawater becaused they were 5 weeks behind schedule... don't say things unless you know the truth...
  • Anonymous on June 13 2010 said:
    Czech To Goldenfoxx #22 What kind of assistance do you want from the government (i.e. the taxpayer). It seems to me that you should be approaching BP for help and not the government. Not sure what kind of help you want or need. I am sorry that you live in an area that is being devastated, that is the luck of the draw for anyone.She was talking about assistance from BP.
  • Anonymous on June 13 2010 said:
    Czech , This spill is sitting on top of an oilfield the size of Mt Everest with possibly a cracked seabed subfloor. Take a good look at Gulf Shores ,Ala. on wkrg.com . Your beaches all along the florida west coast and Florida east coast all the way up the Eastern Seaboard will look the same ! BP will not be able to contain this fast enough if they can at all!! I live in Orange Beach , Alabama. You would not believe the "NO FLY ZONE" cover up going on unless you saw it here.
  • Anonymous on June 14 2010 said:
    How many of these people that are affected now are the same people that were begging for offshore drilling only a year or so ago? Be honest, now.
  • Anonymous on June 15 2010 said:
    To build a 'civilisation' on the foundations of finite energy resources, that are polluting, expensive, dangerous and owned by a cartel of monopolies is insane. It can only lead to one outcome - total global pollution followed by total collapse of oil based economies. These guys have shackled us to this 120 year old internal combustion engine 'technology' nightmare to maintain their insane monopoly. The solutions to infinite clean and free have long existed, beginning with Tesla...
  • Anonymous on June 24 2010 said:
    Has anyone mentioned all the emissions from the oil gusher into the air? The greenhouse gases and all the other pollutants and volatile organic compounds being released into the air. Where are the environmentalists? What is this doing to the global climate change fanatics?
  • Anonymous on June 26 2010 said:
    And it just keeps getting worse, watch these videos to learn why.http://www.environmental.builderspot.com/BP_GULF_OIL_DISASTER_GOV_COVERUP_TRUTH_2012.html
  • Anonymous on June 27 2010 said:
    There is a company with a COMPLETELY NON TOXIC dispersant that accelerates the breakdown of the oil dramatically....like 30 days instead of millions of years. It's been used in the Everglades with 100% success. This company cannot get ANYONE to respond to them. Instead, BP insists on using the chemicals that are more toxic than the oil. These airborne chemicals are also blowing inland so now evacuations are being discussed. Read about the non toxic product here: http://www.1888pressrelease.com/a-a-a-construction-development-80269-company-pr.htmlNow start writing to everyone at BP and the government to demand the use of this available product that WON'T kill us all in the process!(And no, I have no connection with this company whatsoever, I just have common sense.) Even in the depths of a crisis of epic proportions, the greed and stupidity of the *privileged* knows no bounds.

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