Private Sector screwing up

Search Continues for Oil-Rig Workers After Blast - WSJ.com

A massive fire on an oil rig in the Gulf of Mexico left 11 workers missing and cast a pall over an offshore drilling boom that stands to dramatically lift U.S. energy output
Rescuers scoured the Gulf for the unaccounted workers late Wednesday as firefighters struggled to quench a towering fire that forced all aboard to flee.

The blaze on the Deepwater Horizon drilling rig, which broke out around 10 p.m. central Tuesday night, thrust a geyser of flames and smoke into the sky about 50 miles off the coast of Louisiana. Seventeen people were injured, three critically, rescue officials said.
The rig is operated for oil giant BP PLC by drilling contractor Transocean Ltd., which said the search for the cause of the fire would begin after the missing had been accounted for. But Transocean said one possibility that might explain the size and ferocity of the blaze is a blow-out, an uncontrolled burst of oil and natural gas from the well.

Some industry analysts said they feared the accident might temporarily damp the pace of oil development in the deepest reaches of the Gulf, which has become a significant exploration hotspot for international oil companies seeking new sources of petroleum. The industry is booming, and has been challenged by a tight supply of rigs and skilled workers.

The accident comes at a sensitive time politically for the industry. President Obama late last month proposed allowing drilling in new areas of the eastern Gulf of Mexico and off the southern Atlantic coast, where it was banned. Supporters argue the industry has become much safer. The Transocean fire could be an untimely reminder of risks.

huge blackeye on the oil industry
 
only in a political sense, which, I suppose, matters more given who's in charge in Washington, DC.

That was a state of the art Rig, that cost $1 billion, not only that, but its leaking oil too. And Lawsuits have been filed already on behalf of the 11 missing. And its on EARTH DAY



This is also a screw up

Noble Energy Announces Double Mountain Exploration Results in the Deepwater Gulf of Mexico -- HOUSTON, April 21 /PRNewswire-FirstCall/ --

Noble Energy, Inc. (NYSE: NBL) announced today that the Double Mountain exploration well in the deepwater Gulf of Mexico reached the targeted Lower Miocene objective and found noncommercial quantities of hydrocarbons. Drilled to a total depth of 33,815 feet on Green Canyon 555, the well is currently being plugged and abandoned. BHP Billiton operated the well with 70 percent interest and Noble Energy had the remaining 30 percent.

Multi-million $$ dry hole
 
i suppose we will stop mining for coal because of the coal mine explosion? these rigs have a very good historical safety record
 
yep, I do. but CV called the military a "program". I called the Post Office an example of government failure.

next question?

the USPS's first incarnation was established by Benjamin Franklin in Philadelphia in 1775 by decree of the Second Continental Congress. The Post Office Department was created from this in 1792 as part of the United States Cabinet, then was transformed into its current form in 1983 under the Postal Reorganization Act.

Employing 596,000 workers and over 218,000 vehicles, it is the second-largest civilian employer in the United States (after Wal-Mart) and the operator of the largest civilian vehicle fleet in the world.

The post office has been one heck of a failure :crazy:
 
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Faced with an estimated $7 billion shortfall in 2010, the United States Postal Service (USPS) is contemplating radical cuts that would slow down service, eliminate Saturday mail delivery, dramatically alter the post office's workforce, and raise the cost of postage.

how many successful corps lose $7bil a year?
 
you're looking at it through present terms... right now, it's struggling big time due to better options out there from technology

but don't tell me over it's roughly 225-year history, it has been a failure.
 
the USPS's first incarnation was established by Benjamin Franklin in Philadelphia in 1775 by decree of the Second Continental Congress. The Post Office Department was created from this in 1792 as part of the United States Cabinet, then was transformed into its current form in 1983 under the Postal Reorganization Act.

Employing 596,000 workers and over 218,000 vehicles, it is the second-largest civilian employer in the United States (after Wal-Mart) and the operator of the largest civilian vehicle fleet in the world.

The post office has been one heck of a failure :crazy:

If you are looking for government programs to point to as success stories from an economic perspective, I would pick something other than the post office.
 
you're looking at it through present terms... right now, it's struggling big time due to better options out there from technology

but don't tell me over it's roughly 225-year history, it has been a failure.

seems gov't is in the way

Although there are multiple reasons for the USPS's current budget shortfalls, its biggest problem lies in its bizarre relationship with the federal government. While the Postal Service is expected to finance itself, it is not allowed to set its own rates, choose its own hours, or determine its internal policies. To turn the problem around, the USPS will either need to be directly funded by the government (as is the case in many countries) or it needs the freedom to set its own prices, policies, and hours.

Losing Money Isn't the U.S. Postal Service's Only Problem - DailyFinance
 
i don't know the history of the post office...... i just read what's in front of me. it's been around for roughly 225 years. it employs a ton of Americans. it was the only option to communicate other than traveling on your own or calling somebody for the longest time. you're gonna have a hard time convincing me it's a failure because it's now struggling due to technological advances and better options in the private sector.
 
good luck getting them to admit the private sector has its major flaws

what flaw are you talking about? Pretty sure everyone is aware the substances they are working with are flammable. The rig workers get paid very well but also understand the dangers
 
i don't know the history of the post office...... i just read what's in front of me. it's been around for roughly 225 years. it employs a ton of Americans. it was the only option to communicate other than traveling on your own or calling somebody for the longest time. you're gonna have a hard time convincing me it's a failure because it's now struggling due to technological advances and better options in the private sector.

Wow, just wow.

You do realize that is why most institutions fail, right? What is the other option, keeping dumping money into for the hell of it?
 
Hmmm...and here it looks like we have the perfect example of how well government can actually run a corporation in a free market.

It should be completely government, completely private, or not exist at all.

so either go private or force the taxpayers to absorb the losses? Wonder which way our gov't will go...

i don't know the history of the post office...... i just read what's in front of me. it's been around for roughly 225 years. it employs a ton of Americans. it was the only option to communicate other than traveling on your own or calling somebody for the longest time. you're gonna have a hard time convincing me it's a failure because it's now struggling due to technological advances and better options in the private sector.

it's a gov't entity trying to compete with the private sector and getting crushed at the game it invented. If it was a private corp they would be out of business by now. Even Obama admitted FedEx and UPS are now the models for the industry
 
you're not getting my point at all.... In lets say 1903, what was your option to communicate with somebody long distances. Travel on your own... Maybe use the phone... or use the postal service.

And from about 1775 to when the UPS's of the world started and technology advanced to where written mail wasn't needed, it was a HUGE success story. So, if you look at it through present terms, yes the post office is a failure. But throughout the majority of its history, it has not been.
 
So what I'm saying is yes, the post office needs to be reformed or gotten rid of since there are better options out there.

But over it's history, it has been a government success.
 
still doesn't mean the company shouldn't make the rig as safe as possible.

Have they determined that it wasn't?

Last I heard the had not even started to investigate the cause, as they looked for the missing. That was as of this morning.
 
I get what you're saying. When it was the only game in town it was a huge success but when forced to compete with the private sector if failed miserably, laid off workers and lost $7bil. I can now see why you advocate more gov't programs
 

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