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I came across the following on another board I follow and thought
it might be of interest to this board. Thanks to Angeldog.
Oil disaster may prove tipping point for world oil production
By:Jeff Rubin
What are the consequences of another Three Mile Island?
Will the unfolding environmental catastrophe from the ruptured Deepwater Horizon well in the Gulf of Mexico become deep-water oil’s equivalent to the Three Mile Island accident?
In terms of environmental degradation and economic cost, it’s already become much more. The real legacy of Three Mile Island wasn’t what happened back in 1979, though, but rather what happened, or more precisely didn’t happen, over the course of the next 40 years in the United States. Literally overnight, the near-meltdown of the reactor core changed public acceptance of nuclear power plants. No company in the U.S. has built a new one since.
Deepwater Horizon was not a producing well, nor will it likely ever be one. Hemorrhaging anywhere from 5,000 to 25,000 barrels of oil every day, the spill is already approaching the size of the discharge from the Exxon Valdez. What’s worse, BP has no way to shut it off, short of drilling a relief well to divert the pressure, which will take three months. At 25,000 barrels a day, three months means a cumulative discharge of 2.25 million barrels of oil, or 94.5 million U.S. gallons (one barrel equals 42 U.S. gallons), or roughly eight Exxon Valdez spills. Even at 5,000 barrels a day, that’s almost 20 million gallons of oil. And to top it all off, by the time a relief well can be drilled, we’ll be smack in the middle of hurricane season.
The scene of hurricane-force winds raining oil on New Orleans and the rest of America’s Gulf Coast will no doubt make for an apocalyptic image of the end of the age of oil. Unfortunately, our dependence on the stuff will survive this catastrophe, even if the fisheries in the Gulf of Mexico and the marsh ecosystems of the Mississippi Delta won’t. But what might also not survive is deep-water drilling: No company’s shareholders will be willing to accept the consequences that BP will soon have to face.
President Barack Obama has suspended his recent decision to open new offshore areas for oil development and has declared a moratorium on new drilling. You can imagine what the regulatory environment will be like after three months of the spill, just as you can imagine what those satellite photos of the Gulf of Mexico will look like.
But what you might not imagine are the implications for world oil supply. Conventional oil supply has not grown since 2005. Without a steady stream of oil from fields below the ocean floor, not only can’t world oil production grow, it can’t even stand still, since we rely on oil from new deep-water fields to replace the bulk of the four million barrels per day of global production we lose every year to depletion (out of a total of roughly 86 million barrels per day).
If the Deepwater Horizon disaster is the offshore energy industry’s Three Mile Island, then not only has world oil production already peaked, but it will also very soon start to shrink.
So if you think oil prices are high today, you ain’t seen nothing yet.
LOL, if they want to cut the overhead then unload Heffo and
his ban thieves.
Hummm the calm before the storm ???
Thank you for your excellent post,I would hope your wife will have
a speedy recovery with no after problems.
It's going to take news that will effect the bottom line before
we get any real price movement. Today we've traded 26.5 million
shares and are only up $0.006/share.
Ninja thanks for the up-date.
Right on Frankie, all Well Renewal ever produced was PR's
Today is looking ugly at this point in time.
Sorry but this link did not match any document.
I've pulled out and unless Neah can prove they have a major order
from an outside customer I'll stay out.
A little housekeeping on our websites might be in order.
Neah is acting like a typical stock old Heffo is involved in. You
might say he has the Midas touch, everything he touches turns to
K-RAP for investors.
Just think what 2 or 3 new contracts would do to the share price.
Seems like your right, their doing all they can to hold the price down.
It's also interesting that only 15.5K shares have traded today,
or so it would seem. Well as I'm typing this I see the price is
now is LAST $0.17 and volume is 30.5K
I had a 1,500 share order in at $0.25 and was filled at $0.199
Ameritrade is at the same Bid and Ask price.
When Heffo is involved you'll get plenty of news, but no
results.
WOW,A lot of pumping going on here for a stock with no track
record but going no ware.
It wold be nice to see Neah make a confirmed sale to anyone.
LOL, That's about par for this company
"Why, after the growing connection with Heffernan, et al. is all the focus now in Asia, especially Thailand?
Lastly"
Asia is where old Heffo has his empire. For those how know old
Heffo from other stocks, he's a master at PR pumping.
Here's a little something from Heffo's web site.
Ebeling Heffernan Special Report on Mobility
Last Update: February 11, 2010 04:11 ET
http://www.livetradingnews.com/ebeling-heffernan-special-report-on-mobility-9094.htm
Over the last few months Ebeing Heffernan has made a series of investments that are focused around the mobile use of connective devices.
Neah Power, GetFugu, Splashscreen, Asian Energy, MusicTrax as well as larger companies like Apple, China Unicom and even copper the commodity base of this technology have been a feature of our portfolio building, direct investment and trading.
We have a number of projects underway including the Eco-Start an electrical control device, long life lithium ion batteries, the commercial use of Superdiamonds and the production of high grade silicon, technology that will allow a longer life for devices. We have been working with MusicTrax and Splashscreen to develop content, MusicTrax is already built and delivering an iTunes style service all over Asia.
Each of these companies have a unique segment in this lucrative future market. Get Fugu delivers search at a new and exciting level, the technology is still new, it is developing fast and the potential revenue from advertising and licensing is now being seen by the company.
Neah Power will deliver power systems that will change the way we use mobile devices, power lifespans will take a huge leap forward with this technology and again this is a company that is already seeing revenue.
MusicTrax www.musictrax.jp is an amazing content service built on a brand new model, already earning revenue a public promotion of this service is about to be launched and growth in this sector will be strong.
Apple have no released the iPad, another great device to bring in revenue for the content sector of AAPL, with the iPod, iPhone and now the iPad all delivering monthly subscribers we have raised our AAPL long term target to $310.
Splashscreen is developing Games and Applications for devices.
At Ebeling Heffernan we feel the future of technology is mobile, has a strong entertainment function and will need to be more user friendly, to do this our devices will need to have a greater power supply that lasts longer.
The data supports our contention, separate reports out this week show that mobile phone data use is soaring in the United States and globally, with such traffic across mobile networks expected to grow dramatically over the next four years.
One report by comScore MobiLens shows that Americans want to do more than talk on their phones, and they’re willing to pay for it. A total of 234 million people age 13 and older in the U.S. used mobile devices in December 2009. In the past year, smartphone ownership increased from 11 percent to 17 percent of mobile users, while 3G phone ownership increased from 32 percent to 43 percent, and unlimited data plan subscriptions rose from 16 percent to 21 percent.
Every month, comScore measures how often people use their phones to send text messages, access the Internet, play games, use downloaded applications, or “apps,” check their Facebook profile, watch videos and listen to music.
Shayne Heffernan www.livetradingnews.com www.ebeling-heffernan.com
When can be a long time in coming. I'm still waiting for a PR
stating they have an order from an outside customer.
This is a start-up company with no sales, so what do you mean
by soon
Now your getting the point. By the way do we have a confirmed
order yet from an outside customer ?
I can find a number of things like these, but there all Heffo
companies.
Heffernan holds a 30 percent share in Asian Energy, one among a number companies where Heffernan has solar energy project stakes, along with those in Laos, Cambodia and China.
Asian Energy designs and builds solar energy products and power stations. It is headed by Prof. Somyos Durongkadej, whose expertise lies in designing and manufacturing specifically of water treatment systems.
You may need to do a copy and past on this.
New Auto Sector, 1211, RNNM, NPWZ, AEMC, BZTG - The Aft Deck ...
http://seekingalpha.com/instablog/407002-the-aft-deck/41597-new-auto-sector-1211-rnnm-npwz-aemc-bztg
Thanks slojab you did a much better job of stating the point I was
trying to make.
No I would think he's a real person, it's just I couldn't finding
anything on him when I searched by name and company Such as Nasa,
IBM and others.
I'm having a problem finding a reference for Professor Somyos Durongkadej other than connected to Neah or Asian Energy which
is a Heffernan Group operation.
I would love to hear 100 pc. marching band (good news) with
several base drums, LOL. I still have some dry powder just for
such an event.
They have added nothing other than a never ending pumping of
the stock so they can suck in new unsuspecting investors.
LOL, a feather hitting the floor would sound like a base drum
right now.
To be sure, and revenue is what we don't have.
Until we have orders in the house from outside companys producing
revenue,information like this is some where between nice to know and fluff.
slojab my friend you are so right.
Even I'll agree with the 3-5 year range, LOL
Cross great stuff. Thanks
Your getting to sound just like old Heffo himself.
Mr. Ed Cabrera
Executive Managing Director
Jesup & Lamont Securities Corp
New York
http://www.zoominfo.com/Search/PersonDetail.aspx?PersonID=13964234
Employment History
Executive Managing Director
Jesup & Lamont Securities Corp
Head of Investment Banking
Jesup & Lamont Securities Corp
Head of Investment Banking Division
Jesup & Lamont Securities Corp
Managing Director and Head of Latin America
Merrill Lynch & Co. Inc
Chief Latin America Strategist
Merrill Lynch & Co. Inc
Top-Ranked Regional Strategist
Merrill Lynch & Co. Inc
Head of Investment Banking
Empire Financial Group , Inc.
Vice President Investment Banking
Empire Financial Group , Inc.
Co-Head of Capital Markets
Empire Financial Group , Inc.
Managing Director of Investment Banking
J Giordano Securities Group
Managing Director of Research
J Giordano Securities Group
Technology Analyst
J Giordano Securities Group
General Electric Company