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Transocean Ltd. Message Board

  • pualy41canada pualy41canada Jun 5, 2010 5:56 PM Flag

    Sleepy1520.. is your short position in trouble?

    You've been posting anything you can find that might be negative. Odd thing to make money off other's misery.

    Here's a quote from today's paper.

    "Yet while lambasting BP for even seeking to defend its reputation, Mr Obama has showed no apparent interest in directing similar wrath at Transocean - fuelling suggestions that as a foreign company, BP is simply a convenient whipping boy and a politically easier target.
    "Transocean has done a very good job of hunkering down and keeping quiet while BP takes the flak," said a US oil industry source. "BP is clearly the 'responsible party' for the response under American law. But this was Transocean equipment and workers and at some stage they are going to have to answer questions about their role."
    Because it leased the rig, drew up the plans for the well and owned the oil, BP is the "responsible party" under American legislation for the leak, containment and clean-up."

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    • If I was attempting to make money off other's misery I would have gone long!!!

      • 2 Replies to sleepy1520
      • Well good luck, that's quite a lot to rationalize.

        RIG is not at fault, Cameron makes and services the blowout preventers an BP ran the show.. all decisions to proceed and how to proceed. They've taken responsibility for it.

        Nobody wants to shut down the oil business. This shut down is ruining families and businesses in the gulf. Did you know over 53% of the economy of the gulf is dependent on oil?

        BP can't pay that, nor will our government go into debt with another bank bailout.. there isn't the money. They have to put people back to work with stricter conditions. That includes the following regs:


        * Blow-out preventers, BOPs, on floating drilling operations need to certified by an independent third party. The department will also develop formal equipment certification standards for BOPs.

        * Within a year BOPs on all operations will be required to have two sets of blind shear rams spaced at least 4 feet apart.

        * Subsea BOPs will require remote operated vehicles that are able to close all shear and pipe rams, close choke and kill valves and unlatch the lower marine riser package.

        * Interior will develop surface and subsea methods to test capabilities of remotely operated vehicles and BOPs.

        * Interior will conduct more in-depth safety inspections that will include witnessing actual tests of BOP equipment.

        * Rig operators will be required to undergo a series of procedures and checks before displacing kill-weight drilling fluid from the wellbore.

        * All well casing and cement designs for new floating drilling operations will have to be certified by a professional engineer.

        * Interior will develop specific cementing requirements.

        * Interior will expand safety and training programs for rig workers.

        this isn't less work for RIG, its more work

      • To answer you question is my short position in trouble no...There may be a few squeezes on the ride down to the twenties. The price will not go over my entry therefore no margain worries here--

9.52-0.09(-0.95%)Sep 26 4:02 PMEDT