Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (76274)	5/27/2010 10:56:33 AM
From: tejek	Read Replies (2) \| Respond to of 149317

'Top kill' plugs gulf oil leak, official says Drilling fluid has blocked oil and gas, U.S. Coast Guard Adm. Thad Allen says. Engineers plan to begin pumping in cement and then will seal the well. Reporting from Houma, La. —Engineers have stopped the flow of oil and gas into the Gulf of Mexico from a gushing BP well, the federal government's top oil-spill commander, U.S. Coast Guard Adm. Thad Allen, said Thursday morning. The "top kill" effort, launched Wednesday afternoon by industry and government engineers, had pumped enough drilling fluid to block oil and gas spewing from the well, Allen said. The pressure from the well was very low, he said, but persisting. Once engineers had reduced the well pressure to zero, they were to begin pumping cement into the hole to entomb the well. To help in that effort, he said, engineers also were pumping some debris into the blowout preventer at the top of the well. » Don't miss a thing. Get breaking news alerts delivered to your inbox. As of early Thursday morning, neither government nor BP officials had declared the effort a success yet, pending the completion of the cementing and sealing of the well. Allen said one ship that was pumping fluid into the well had run out of the fluid, or "mud," and that a second ship was on the way. He said he was encouraged by the progress. "We'll get this under control," he said. Allen also said that, later Thursday, an interagency team would release a revised estimate of how much oil had flowed from the well into the gulf before the "top kill" effort began. The Coast Guard had estimated the flow at 5,000 barrels a day, but independent estimates suggested it was much higher, perhaps tens of thousands of barrels a day. latimes.com

To: stockman_scott who wrote (76274)	5/27/2010 11:29:50 AM
From: tejek	Respond to of 149317

White House continues deepwater drilling ban, delays Alaska project thehill.com

To: stockman_scott who wrote (76274)	5/27/2010 6:10:12 PM
From: koan	Respond to of 149317

The last 30 years of raygunism was a fantasy and a travesty. "The fact is, Reagan had it backwards. Government, it turns out, is often the solution and unconstrained private industry the problem. Many of us knew this, but few have had the courage to stand up to Reagan's dangerous, but popular, fantasy, then or now. Indeed, when the history of the last three decades is written, it will be a story of epic hypocrisy on the part of Republicans, enabled by abject cowardice on the part of Democrats, with consequences that created a legacy far more tragic and irreversible than even this horrendous oil spill. There may have been a few conservative ideologues who actually believed the small government, magic market mantras spouted by the likes of Reagan, Grover Norquist (I simply want to rduce [government] to the size where I can drag it into the bathroom and drown it in the bathtub) [1] William Kristol and assorted industry-funded [2] think tanks, but they were few and far between. The real reason this philosophy spread was because it was politically expedient, it was backed and funded by powerful interests who made campaign contributions, and few had the courage or conviction required to confront a fantasy that told people they didn't have to pay for the services they demanded. Across our entire economy and society we are now reaping the harvest of that hypocrisy, and the fruits of that cowardice. To any remaining acolytes of Reaganism, the track record stands in stark rebuke.