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SeaDrill Limited Message Board

oilbeblowed 1 post  |  Last Activity: Sep 6, 2014 12:25 PM Member since: Jan 28, 2005
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  • Reply to

    Am I blind?

    by rbillywhiskers Sep 5, 2014 5:19 PM
    oilbeblowed oilbeblowed Sep 6, 2014 12:25 PM Flag

    You make some dangerous assumptions here , first of all some know nothing judge (no jury) decided how to apportion the "Blame" it just happened he chose to stuff BP again, he could easily have put the majority of the blame on Transocean,
    Make no mistake this could happen to ANY rig in the world , even with new designs there will always be something "not working" these minor faults will always be present in any complex system (ask NASA )
    If you make enough laws and rules there will always be something to hang on any chosen victim
    Ask anyone who has been involved in commissioning the new rigs about failure downtime and they will tell you there are hundreds of millions of dollars being lost due to downtime especially here in the GOM
    There will always be a risk, this must be mitigated with some kind of limit to consequential losses or the industry will collapse these contract limits were #$%$ on by the Obama administration after Macondo
    And should Any drilling contractor have another spill or incident in the Gulf they will be toast Seadrill included

    having said that FWIW I have a fairly large position in SDRL they as good as the other big boys not noticeably better but as good IMHO

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