As the huge oil reservoir is depleted, the weight of the seawater will begin to collapse the seabed over top the reservoir of oil. This could be an area of 100 square miles or more. It could happen slowly or in an instant. It could be triggered by an earthquake or a fault line rupture.
I am sure the scientific think tanks have been told not to discuss this.
"There are a number of scenarios that we are anticipating, and we are developing plans to react to the most likely possibilities." Among the most likely scenarios is the growing concern that pressure in the well caused a breach 1,000 feet below the seafloor, and that pressure from that breach has caused dozens of additional breaches between the Macondo reservoir and all surrounding reservoirs of the Mississippi Canyon block.
"The Mississippi Canyon block contains approximately 45% of the deepwater oil in the entire Gulf of Mexico", Axlerod said. "We are anticipating that erosion in the wellhead will cause the speed of the leak to accelerate from its current two hundred thousand barrels per day to a higher rate of approximately eight million barrels per day."
The Mississippi Canyon contains an estimated three trillion barrels of oil. With continued erosion of the well, scientists fear that the entire block could drain into the Gulf by the end of June.
Take it from me, “NO SMOKE WITHOUT FIRE”...”THE HISTORY REPEATS ITS SELF”... the whole world is talking about double dip recession even worse this time, so it's coming... yesterday Finland announced that she entered into double-dip-recesssion (read BBC news and other reliable agencies, not yahoo who are hiding bad news as directed by politicians and because they are also part of game – the will be doomed along with the market) , Japan on the edge of collapse...who is next Uk then the rest of europe will follow then us in North America.... then the majority of investors particularly small investors will end up caught between the hammer and the anvil - bag holders as the market will stay down for at least 3-5 years.
I wish it wouldn't happen, but the numbers and news are extremely disappointing and give a bad signal that we have agonising and painful years coming ahead.
The market crash on 6TH is a signal that are heading to dow 8000 even lesser....it exactly resemble 1929. READ about it and educated yourself before you make a decision.
“After the crash, the Dow Jones Industrial Average (DJIA) partially recovered in November–December 1929 and early 1930, only to reverse and crash again, reaching a low point of the great bear market in 1932. On July 8, 1932, the Dow reached its lowest level of the 20th century and did not return to pre-1929 levels until November 1954.”
Remember that big stocks like BAC C AIG FNM etc – for instance Ford Fell from 8$ to 1.5 in just 7 sessions.”
One more thing don't ever ever believe politicians, and a word to the wise is enough.
Good luck and pray because we need it
you have problems my friend. The first is that you dont' know what the hell you are talking about. They pump liquid (water) in to help ease the oil out. This happens of course once the pressure is relieved. I love all of these instant oil field experts who don't know crap...