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Hiding Bear

B4 The Bell Weak-end Den, August 21-22

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:D Welcome everyone to the weak-end den! :D

 

This weak-end we are nearing the end of summer vacationing, but even though bears may have been set back some this week let us thank Brian4, Doc, and many regular forum contributors for their contributions and thought provoking analysis! ;) ;) ;)

 

H*ll has come to Moss Bluff, Texas:

 

Aug. 21, 2004, 2:35AM

 

New blast of burning natural gas raises more fears

Residents are evacuated as plans are made to save remaining caverns

By CINDY HORSWELL

Copyright 2004 Houston Chronicle

 

As hundreds fled the second blast of burning natural gas in two days, engineers huddled late Friday to stave off a threat of two adjacent underground storage caverns rupturing at Duke Energy's Moss Bluff facility east of Houston.

 

The second, even more spectacular eruption occurred about 1:15 a.m. Friday when intense heat and pressure collapsed the valves that capped the initial cavern that caught fire a day earlier.

 

Burning gas shot 1,000 feet into the air, brightening the night sky and creating tremors that shook some residents from their beds.

 

The cavern, which initially held 6 billion cubic feet of natural gas, was expected to burn itself out today, authorities said.

 

Authorities valued the loss of gas that is needed to provide heat this winter at $36 million, noting similar quantities are stored in the two other caverns.

 

However, Texas Railroad Commissioner Charles Matthews said experts were concerned that when the ignited cavern is finally empty it could create a vacuum that would destabilize the walls of adjacent caverns.

 

"It's a risky business," Matthews said. "We want to make sure there is no penetration between the facilities and are meeting to work on the best way to solve the problem. We'll be nervous for a couple of days."

 

Gas is stored in the caverns under high pressure ? 1,800 pounds per square inch. Usually when gas is removed from a cavern, it is replaced with saltwater to maintain the pressure inside, he said.

 

Barbra Noble, who was staying in one of the motels, was not anxious to return home: "We only moved out there about 1 1/2 years ago. But this is like living in the middle of hell. I'm ready to move again."

 

http://www.chron.com/cs/CDA/ssistory.mpl/topstory/2749756

 

Note: This fire, at the Moss Bluff storage facility, is where they inject natural gas produced from fields hundreds of miles away into hollowed-out salt caverns to await delivery upon sale. There is a network of pipelines leading in and out of the facility, and it appears that one of these lines has failed at some point, allowing natural gas from the storage chamber to be vented into the air, where it was ignited by some means.

post-20-1093092376_thumb.jpg

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It's a damn good thing there's been "no domestic terrorism since 9/11" (according to the Bush administration) - but somebody really ought to do something about all of these coincidental explosions at refineries and natural gas facilities that seem to occur monthly around the country. Maybe the culprit is some type of faulty valve that needs to be recalled, or no, wait, it's most likely due to a "computer glitch"...yeah, that's the ticket, a computer glitch...the same type of computer glitch that prevented the release of the PPI for a few months.

 

WE ARE UNDER ATTACK HERE AT HOME EVERY DAY...AND NOBODY IN THIS ADMINISTRATION IS GOING TO TELL YOU.

 

"Who you gonna believe, us, or your lyin' eyes?"

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Consumers will face an increase of from $350 - $600 to heat their homes this winter as compared to a year ago. Gasoline prices are about to shoot higher at the pump once these recent oil price increases find their way into the system. These increased costs will directly impact consumer's ability to spend on discretionary items.

 

The economy is cooked.

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Bomb Damages Local Northern Iraqi Pipeline

AFP: 8/20/2004

 

KIRKUK, Iraq, Aug 20 (AFP) - A local pipeline linking the main northern Iraqi oilfields of Kirkuk to the Baiji refinery was damaged when a makeshift bomb exploded early Friday, hampering oil distribution, said a security source.

 

The bomb detonated at 8:30 am (0230 GMT), 30 kilometres (19 miles) west of Kirkuk, said fire fighter Ali Abdullah attached to the state-run North Oil Company, giving no further details.

 

In the main southern city of Basra, the British military said the number of security guards around key oil infrastructure had been stepped up after the Mehdi Army torched the offices and warehosues of the South Oil Company.

 

"We will not leave a single coalition base untouched and we will attack oil wells if attacks on Najaf continue," Sheikh Ahmed Fartusi, who called himself the Basra commander of the Mehdi Army, told AFP on Thursday.

 

http://www.turkishpress.com/turkishpress/news.asp?ID=24965

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Credit Bubble Sits Up in Grave

 

Bank Credit Growth, A Blip or a Trend?

 

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Gasoline yesterday here took a 45 cent (Canadian) jump per gallon so I would say that BIG price increase is on its way as our exports to you yesterday would have been priced accordingly. I note that CNN is reporting Sadrs Crew will hand over the keys and leave the Mosque, while Reuters (much more accurate) report and quote the Mehdi Army as saying they will fight to the end. Since the Puppets are losing face here this is about to end very badly-Huh! ;)

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I tried a small short on DUK. In the money so far. We'll see.

Dividend 2nd week in nov. be out by then

Is that a bad thing to do? My moral compass is spinning all around.

 

Whats popular today?

 

Went to cc.com and found these among the top list.

 

good intro

http://www.shadowsfall.com/

 

http://www.ozzfest.com/news.html

http://www.ozzfest.com/images/header_right.jpg

 

What kids listen to today ... sheesh! But I like it.

 

I think these are the peace bands ... could be wrong about that though.

 

Judas Priest looks way over the hill. call the grim reaper.

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Article headline in this week's Barron's "Stocks jump in anticipation of a peak in crude-oil prices." That, imo, says it all. Listen, I have no freaking clue where oil is headed, but it seems to me that the mkt is about a 1,000 points higher than where it should be given where oil prices ARE, not where the shills want them to be.

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Jimmy Rogers says he is long stocks until Nov. Figures the market may rally a little more after that but it isn't worth the risk beyond the election.

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WE ARE UNDER ATTACK HERE AT HOME EVERY DAY...AND NOBODY IN THIS ADMINISTRATION IS GOING TO TELL YOU.

That's the first thing I thought when I heard about this incident.

 

But I'm not aware of anyone stepping forward to claim the "credit" for it.

 

Where's the grainy videotape, with almost unintelligible sound track, purported to assert that the explosion was the work of al-Qaeda?

 

The lack of such, it seems to me, is an argument in favor of accident as the cause of the blast.

 

Or maybe we're dealing with a foe that has no particular interest whatsoever in grabbing headlines?

 

The administration, and its proxies, have been making menacing gestures toward Iran and others.

 

This week the Iranian Defense Minister announced that, so far as Iran is threatened by the USA, Iran might not recognize a USA monopoly on preemptive attacks.

 

Maybe this N.G. explosion could be just such a preemptive attack?

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Article headline in this week's Barron's "Stocks jump in anticipation of a peak in crude-oil prices." That, imo, says it all. Listen, I have no freaking clue where oil is headed, but it seems to me that the mkt is about a 1,000 points higher than where it should be given where oil prices ARE, not where the shills want them to be.

Soup:

 

I'm sure you've noticed that virtually EVERY time in the past there has been a significant rise in oil prices, the gas stations have managed to raise the price at the pump IMMEDIATELY, in anticiaption of higher costs in the near future. And of course, it also takes them as long as possible to lower prices following any significant declines in the price of crude. The reason they do this is obvious enough...

 

BECAUSE THEY CAN.

 

Or, more succinctly stated:

 

GREED

 

So why was it different this time?

 

How can it be that the opportunity of a lifetime - to raise prices at the retail level as crude prices soared...how can it be that this opportunity of a lifetime to rake in huge windfall profits when literally everybody was expecting them to raise prices...how can it be that pump prices were held down leaving even the news media bewildered?...HOW CAN IT BE?

 

I'll tell you exactly how it can be, and there is NO OTHER EXPLANATION.

 

Dick Cheney called his buddies and demanded that they not raise prices at the pump in order to save Greenspan's 990N script to save the markets. Once you're in bed with Dick as part of the NATIONALIZED OIL CARTEL, and you're relying on him and his military to back up your business plan to extract oil from increasingly unstable and dangerous countries, and Al gets on the phone to explain that if you don't play along, the economy and your profits will collapse... it becomes a lot easier to understand why pump prices stayed low while the price of crude skyrocketed.

 

If you think gas prices in the US are set by competitive market conditions - you don't know Dick!

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