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This should be the next evolution for MOP`s advertising. Put the damm MOPlogo/address/phone number/eco friendly product, etc... printed all over the booms. Good place for your advertising dollar. I`ll take 500,000 free shares for the idea. I`ll get a patent for the idea first thing Monday morning. LOL
That`s great to hear.
I believe we`ll see some positive news shortly. These guys didn`t put this all together just to keep their hands in the money management game and then distance themselves from it.
This has already been posted in the past but is still a good review and a good read for new investors.
http://www.equitiesmagazine.com/corporate_summaries.php
Expired Buy 30000 FNDME Limit 0.0752 -- 08/27/10 16:16:18 08/27/10
Order No. 6684854079
Fund Com Inc Com Cl A
Entered:15:27:29 08/27/10
Remember the inference I made to Monster.com, now Monster Worldwide, Inc., and how I made a killing buying and holding that play. I picked up shares during the early dot.com days at $6.50 average per share and jumped off months before the dot.com implosion at $77.00 average in early 2000. Well, think alone those lines for Fund.com, a one stop ETF shop. Everyone wants the newest toy and ETF`s are it. They are going to fly as the number one investment vehicles of choice. Look how fast they have grown in there short life in popularity already.
I`m a day trader but not in all shares. I hold core positions and private placements 3-5 years out. Nowadays I trade nothing but ETF`s because unlike most company stock, you know what your buying in an ETF.
FNDM is one of those stocks/companies where you buy as much as your comfortable with, then you buy more when the fundamentals drastically change for the positive.
IMO this is not a penny flipping play and I for one am happy to see those traders that get shaken out and give way for investors to pick up cheaper shares. GLTA in your decisions with your investment here!!!!!!
Russell 1000 financial index video. GLA
http://www.thechartpatterntrader.com/
That`s what i`ve found also just to confirm.
109.6 million
88.93 million floating shares
Institutions Holding Shares 10
Held By Institutions (MRQ) 23.22%
Well i`ve got my orders lined up so it would be nice to see a little more volume so I can get some fills. Lately shares have been a bit tough to come by. I liked the PR, seems they`re getting their priorities in order. Will their Fund.com site be the next Monster.com, that play for me was one hell of a pay day!!!!!!!!!!
manatee good reply to his question, but education is really the first priority in doing any trading and every day is a learning process. Long FAZ for now!!!!!!!!!!!!!!!!!!
How is comparing before and after statistics being dense?
The fact you think they had to show studies beforehand and that should of been presented. The fact this study was current, not a comparison to any prior studies is not the point of the story. Instead of posting nonsense replies, I again suggest you contact the reporter or scientist so you`ll be fully informed to your pressing querry. O.K.
I`ll give you a simple answer. There was oil/toxins in the waters in the gulf before the spill, now there is much more period!
Even MOP doesn't remove 100% of the oil so you'll always have a certain PPM residue. The BP DWH spill isn't the first oil spill in the gulf waters so there has to be some oil residing in the background. If they don't have the PPM data from before the BP incident the study is flawed.
No the story was accurate to the point it was addressing, not an in depth ocean water samples study pre and existing counter point. Just a simple reporter and a simple scientist trying to make a simple point.
I suggest you contact the scientist at his department, i`m sure he`ll be happy to give you that information.
They didn't take any before samples! Don`t be dense!!!!!!!!!!
Independent Gulf Coast Water Testing video
http://cleanthegulfnow.org/archives/independent-gulf-coast-water-testing/
SUMMARY OF OIL TESTING RESULTS:
1. Katrina Key: water sample – 16ppm
2. Orange Beach: beach water, near shore – 29ppm
3. Gulf Shores: sand collected beneath a group of kids playing – 51ppm
4. Gulf Shores: beach water, near shore – 66ppm
5. Gulf Shores: beach sand – 211 ppm
6. Orange Beach: water from a sand hole where kids were playing – 221ppm
7. Dauphin Island Marina: water sample – Not Obtainable: Sample Exploded. Chemist hypothesized due to: ethanol, methane or Corexit
Goldman's glowing
Bank's commodities business to deliver uranium
http://www.nypost.com/p/news/business/bank_commodities_business_to_deliver_x8LatzOSA1dTMEJoddf4bM
By MARK DeCAMBRE
Last Updated: 4:23 AM, August 20, 2010
Posted: 1:27 AM, August 20, 2010
Goldman Sachs is about to go nuclear.
The gold-plated investment bank, run by CEO Lloyd Blankfein, is making a concerted push into the delivery of uranium for the first time, adding to its high-powered commodities platform.
The vaunted investment bank is predicting a big boom in the development of a new generation of nuclear-powered plants -- fueled by uranium -- over the next several years.
Goldman has spent years building up its commodities platform, which trades energy derivative contracts. It also owns subsidiaries that buy and sell the physical commodities, such as oil and natural gas, that are the basis for those contracts.
NUKE 'EM: Goldman Sachs is making a push into the delivery of uranium, used in nuclear reactors like the ones above.
AP
NUKE 'EM: Goldman Sachs is making a push into the delivery of uranium, used in nuclear reactors like the ones above.
Few other investment banks have the wherewithal to own the physical commodities -- much less the radioactive kind.
Proponents say the ability to take delivery of physical commodities is another product Goldman can offer clients and gives the bank an advantage in pricing contracts.
Goldman inherited its uranium stockpiles about a year ago as a part of a larger acquisition of London-based commodities-trading operations from then cash-strapped Constellation Energy Group.
The purchase was part of Constellation's move to divest itself of its operations handling international commodities.
The uranium operation was mostly an afterthought until recently, when Goldman saw demand from some of its big clients -- mostly large utility companies both here and abroad.
In fact, sellers and operators of nuclear power plants around the world have been gobbling up uranium assets and stakes in uranium miners at a rapid clip over the past few months.
Russia has expressed a strong appetite for uranium stockpiles. Recently, state-owned nuclear company ARMZ acquired a 50-percent stake in Canadian uranium mining company Uranium One for $610 million.
mdecambre@nypost.com
Well it sure is great to be able to continue to buy shares at a lower price. I believe the market overall is souring investors appetite for stocks again, so there`s been small retail sellers. They continue to drop the Bid after these small sales go through so put in your Bid and enjoy cheap shares for now.......
I`m a Federal employee and am looking to retire ASAP. If this companies stock has what I feel is there then in the next few years might be sitting pretty, plus retired!!!!!!!!!!!!!!!
Its nice you get the politically correct dialog from sources, but scientific teams have observed a 22 mile oil plum that has not dissipated. The scientists said that when they studied it, they saw little evidence that the oil was being rapidly consumed by the gulf's petroleum eating microbes. The plume was in a deep, cold region where microbes tend to work slowly. Also there is all the oil droplets at the ocean bottom that could well up onto the continental shelf and resurface later.
Don`t get me wrong, I respect you spoon feed answers to the spill and appreciate your observation posting here and hope you continue to keep the board informed, but expect challenges.......
University of South Florida reports of oil traces on ocean floor conflicts with government findings.
Video at bottom of page......
http://www.examiner.com/environmental-health-in-tampa-bay/university-of-south-florida-reports-of-oil-traces-on-ocean-floor-conflicts-with-government-findings
Investment In Nuclear Energy
Selina Harrison, September 2010
http://www.financierworldwide.com/article.php?id=7211
The need for energy supply source diversity combined with efforts to reduce global carbon emissions have set nuclear power to become a genuine energy alternative. Analysts predict increased investment opportunities in the sector, and if nuclear power gains popularity, these investments could be very lucrative for both financial and strategic buyers. However, investment in nuclear energy requires considerable commercial and political awareness.
Memories of the 1979 Three Mile Island nuclear accident and the 1986 Chernobyl meltdown make it difficult for many to embrace nuclear energy. For a long time critics have been vocal about its dangers. However, many are oblivious to fact that nuclear energy is actually the most widely used source of alternative energy. Although no new nuclear power plants have been built in the US for 30 years, according to the US Department of Energy, 20 percent of the energy generated in the US comes via the nuclear route. In the years ahead, this percentage will definitely increase.
President Barack Obama has already pledged to triple public financing of nuclear power, beginning with $8.3bn in loan guarantees to fund construction of a nuclear plant in Georgia, which could be in service by 2016 and $18bn in total funding already available , with additional funding authority legislation proposed.
Meanwhile, according to the European Nuclear Society (ENS), in Europe there are 17 nuclear projects currently under construction to go with 194 facilities already in use. In 2008, the ENS reported that in terms of electricity generated by nuclear energy, France held the top position with a share of 76.2 percent, followed by the Slovakian Republic with 54.4 percent, Belgium with 53.8 percent and Sweden with 42 percent. “Actual nuclear investment activity, as distinct from analysis, planning, and licensing, has varied dramatically from one region to another over the past 12 to 18 months,” says Glenn R. George, a partner at Bates White Economic Consulting. “Countries such as Finland, France, Japan, South Korea and especially China have been hotbeds of investment and construction. In these markets, the combination of salutary public policy, perceived need and economic justification has given nuclear energy the size required for sustained growth.”
The UK is also looking to increase its nuclear utility. Last year the then Labour government approved plans to build nuclear power stations in 10 sites across England and Wales. Although, the UK’s new coalition government announced last month it is to review the country’s nuclear power strategy, new energy minister Charles Hendry said plans for the first new nuclear power station to begin generating electricity by 2018 remain on course. However, the new government appears to be pushing private firms to build new plants as part of a low carbon power generation mix.
On a global scale, investment in nuclear energy is accelerating, according to Tom Flaherty, a senior vice president at Booz & Company. Government support for new nuclear development and construction has facilitated a certain level of financing available and construction commitment. But even in countries where the private sector is the principal financing source, direct activity has also increased. “The number of countries announcing commitments to new nuclear continues to expand with a footprint that extends well beyond that of the current owner group and traditional host countries,” says Mr Flaherty. “Particularly in China, India, Japan, Russia and the Middle East, both the levels of actual investment and investment commitment have substantially increased to support in excess of 50 new nuclear plants under development or construction globally,” he adds.
Indeed, while Japan is said to generate about 30 percent of its electricity from nuclear reactors, the Chinese government aims to derive 15 percent of its power from nuclear energy by 2020 and has set aside Yuan 682.2bn to build 23 nuclear power plants during this period. Last month the Chinese government approved plans to build a nuclear power plant in the south-western region of Guangxi. Yuan 24bn will be invested in the nuclear power plant, which will eventually have six reactors, each with a capacity of at least one gigawatt, two of which should be operational between 2015 and 2016.
The massive BP oil spill has made nuclear power look even more attractive, highlighting the fact that while nuclear energy presents certain risks, oil accidents can also have a devastating affect on the environment. As such, governments across the world are pursuing a balanced energy supply portfolio with nuclear plant construction presenting one of the few viable options for meeting growth requirements and satisfying mandates for an environmentally clean power source.
Adding to the appeal of nuclear development is the employment benefits for local communities near new construction sites. Indeed, the US administration underlined the nuclear plant in Georgia will create 3500 construction related jobs and 800 permanent jobs once the reactors go into operation. In the UK, Secretary of State for Energy and Climate Change Ed Miliband stated that the construction of new plants across the country would create 9000 jobs for people living close to power plants. It is easy to see why governments around the globe see nuclear power as part of their country’s ‘job engine’.
Considering the benefits it offers, Dr George believes nuclear energy can be competitive with more traditional sources. “In much of the developed world, few new coal-fired plants are likely to be built due to their carbon emissions, at least until carbon capture and sequestration technology is deployed,” he says. “Natural gas supplies in many regions are constrained or fraught with political issues. Renewable generation – notably wind and solar – remains costly and presents system integration challenges. On the basis of levelised unit energy cost, analysis shows new nuclear is very competitive with alternatives, though the cash flow and risk profiles are quite different.” It is these last two factors, unique to nuclear energy, which could make investors think twice about entering the market.
Routes for investment
The safety requirements associated with the construction of nuclear plants make them notoriously expensive to build. Direct investment in plants is often difficult to execute for all but the well capitalised companies and financial institutions. However, for investors with smaller amounts of capital seeking a route into the sector, there are other strategies to consider.
iShares S&P Global Nuclear Energy Index Fund, PowerShares Global Nuclear Energy Portfolio, and Market Vectors Nuclear Energy are the three Exchange Traded Funds (ETFs) which track companies across the globe dealing with nuclear mining, storage, infrastructure and utilities. While investment in these companies presents an attractive entry to the nuclear sector, investors appreciate that each ETF is managed differently and there is considerable variance in their returns. Therefore, investors need to find the right ETF to suit their goals and to match the returns they expect to receive from their investment.
Another route into the sector is to invest in an infrastructure company that offers engineering, construction, and consulting services for nuclear plants.
In many cases these are very large, established companies that are not solely reliant on the nuclear industry. However, if nuclear investment does grow in popularity, and the infrastructure company derives enough of its revenues from the nuclear industry, it could make a tidy profit for an investor.
Purchasing uranium related stocks is another method of investing in the nuclear sector. Uranium is the key ingredient in nuclear reactors and many uranium miners trade publicly. However, mineral stocks can be volatile and high risk, as the smallest news release can cause uranium prices to skyrocket or slump. When investing in uranium stocks, investors must evaluate the risks versus the rewards associated with supply and demand cycles.
When looking to invest in an actual nuclear plant, even well capitalised institutions must understand that the political, regulatory, financial and local community environments will have a major impact on the successful outcome of new build projects. Given the level of risk involved in development and construction, owners are demanding more certainty in the processes, particularly in terns of licensing, financing and regulation. Furthermore the quality of financing environment has a direct influence on where and how funding is obtained. “Loan guarantees, for example, are viewed as an important backstop element for the first wave of plants to be constructed in the US. However, with the economic malaise and ratcheting country debt levels affecting the short-term outlook for market recovery and financing costs, it is not unfeasible that these support mechanisms may be constrained or unavailable as originally foreseen. This would have a dampening effect on the confidence of the markets in governmental support for nuclear, and result in more expensive capital sourcing than envisioned,” observes Mr Flaherty.
In the US, specific focus has been given to selected states like Georgia, Florida, Virginia and South Carolina. The aim is to determine how new build nuclear plants are viewed and supported, which has an impact on how a project is funded. “In these states, specific legislation has been made available that provides for cost recovery certainty or recognition of cost incurrence and recovery on a contemporaneous basis,” says Mr Flaherty. “These features have the affect of reducing risk to the owners and thus reducing the cost of capital obtained. When these features are present, particularly if combined with loan guarantees, traditional financing sources are preserved and at reasonable costs. Beyond these sources, export-import bank financing, vendor credit wraps and sovereign or industrial passive investment can be made available to provide new, non-traditional sources of financing,” he adds.
Risks and safety
From a safety perspective, the nuclear power industry is highly regulated and can be prone to fluctuating views on how plant construction and operating quality can be assured. Therefore, when regulatory requirements change or are interpreted more stringently than expected, the cost of adhering to regulation can increase the total sum of plant completion costs and output economics.
The infamous nuclear accidents of the 1970s and 1980s cast a shadow over nuclear energy. Furthermore, the last nuclear builds in the US provided plenty of examples of poor risk management and underperformance. However, in today’s new build environment, plant technologies have been made simpler and standardised, which helps to constrain cost levels and simplifies the construction process. At the same time, licensing processes have become more streamlined and predicable.
Even so, Dr George suggests that the nuclear industry, financiers and their advisers need to think creatively about ways to mitigate remaining risks and increase the financeability of new nuclear plants. “If these issues are not addressed, the nuclear renaissance could be stillborn. Solutions might include some sort of insurance coverage for construction cost overruns, provided by insurers, reinsurers, insurance markets, or perhaps the industry itself in some kind of mutual structure.” Despite the attention given to avoiding issues that plagued the last round of construction in the 1970s, construction delays, ballooning costs and lax workmanship have plagued the recent Olkiluoto nuclear power plant in Finland and Flamanville plant in France, highlighting the fact that planning and execution problems can easily arise, despite best efforts to avoid them.
An Important Note Of Caution - By Tony Robbins
Tony recorded a quick message for you Tuesday (August 3rd, 2010), that he feels is very important for you to watch right now. It's an important note of caution on today's economy and 7 things to consider as you watch the stock ticker go up and down. Please view and share this timely update with anyone you care about
http://www.metatube.com/en/videos/37911/An-Important-Note-Of-Caution-By-Tony-Robbins/
Anyone get any at 0.09 today. LOL
FUND.COM - Nasdaq: FNDM
Time & Sales
Rec. Time Action Price Volume
4:04:49 PM Ask 0.12 5000
4:04:45 PM Bid 0.06 5000
3:52:51 PM Trade 0.09 500
3:51:39 PM Bid 0.073 5000
3:51:38 PM Trade 0.092 5000
3:38:02 PM Trade 0.092 7000
3:33:24 PM Trade 0.1 5000
3:32:37 PM Trade 0.1 10000
3:07:14 PM Trade 0.092 20000
3:06:52 PM Trade 0.092 20000
2:55:38 PM Trade 0.092 4000
2:46:25 PM Trade 0.092 2000
2:32:04 PM Trade 0.092 2000
1:24:34 PM Trade 0.092 5000
12:44:26 PM Trade 0.1 5000
10:34:21 AM Bid 0.092 5000
10:11:11 AM Trade 0.1 5000
10:11:10 AM Trade 0.1 5000
10:10:51 AM Trade 0.1 10000
9:43:44 AM Ask 0.1 5000
9:38:36 AM Trade 0.091 2000
9:36:08 AM Trade 0.1 10000
9:35:09 AM Trade 0.1 5000
9:35:08 AM Trade 0.1 5000
9:26:32 AM Bid 0.06 5000
9:26:26 AM Ask 0.105 5000
7:30:02 AM Ask 0.11 5000
7:30:02 AM Bid 0.08 5000
MOP ENVIRONMENTAL - Nasdaq: MOPN
Time & Sales
Rec. Time Action Price Volume
4:00:00 PM Trade 0.11 19300
4:00:00 PM Trade 0.11 5000
3:59:48 PM Trade 0.11 26000
3:59:07 PM Trade 0.11 6900
3:59:07 PM Trade 0.11 10000
3:58:54 PM Trade 0.105 10000
3:58:47 PM Trade 0.1 5000
3:58:40 PM Trade 0.105 503
3:58:29 PM Trade 0.105 11600
3:43:40 PM Trade 0.1 5000
3:38:14 PM Trade 0.1 4900
3:36:55 PM Trade 0.1 5000
3:30:08 PM Trade 0.105 3200
3:28:12 PM Trade 0.105 7750
3:27:44 PM Trade 0.105 20400
3:27:38 PM Trade 0.1025 25000
3:10:27 PM Trade 0.11 503
3:08:48 PM Trade 0.105 300
3:08:48 PM Trade 0.103 2500
2:57:06 PM Trade 0.1 10000
2:55:50 PM Trade 0.1 1214
2:52:03 PM Trade 0.11 9050
2:20:17 PM Trade 0.1 3720
2:10:22 PM Trade 0.1 37100
2:10:16 PM Trade 0.1 10000
2:09:21 PM Trade 0.1 25000
2:09:19 PM Trade 0.095 52050
2:07:30 PM Trade 0.1 10000
2:06:58 PM Trade 0.1 24100
1:49:37 PM Trade 0.09 3550
1:49:33 PM Trade 0.09 5000
1:30:19 PM Trade 0.1 2000
1:30:10 PM Trade 0.1 9000
1:11:59 PM Trade 0.095 5000
1:11:44 PM Trade 0.1 3245
1:11:43 PM Trade 0.095 10000
1:11:14 PM Trade 0.095 530
1:11:13 PM Trade 0.098 925
1:09:21 PM Trade 0.095 500
12:57:32 PM Trade 0.095 5000
12:33:01 PM Trade 0.095 8205
12:31:38 PM Trade 0.1 10000
12:28:01 PM Trade 0.11 5000
12:27:46 PM Trade 0.1 3700
12:27:42 PM Trade 0.1 2500
12:27:36 PM Trade 0.1 4000
12:27:29 PM Trade 0.1 4900
12:27:24 PM Trade 0.1 4900
12:25:38 PM Trade 0.11 2100
11:58:58 AM Trade 0.11 800
I also like my good sized position, but I continue to chip away when they offer up those cheapies from time to time. I`m just impressed each time I read the Bio`s of our management team and thought i`d post it after the PR, to keep everyone focused on the prize.....
The CEO`s pedigree is of the highest caliber for the current company !!!!!!!!!!!!
Gregory Webster
Chief Executive Officer and Director
Fund.com, Inc.
New York , NY
Sector: SERVICES / Management Services
Officer since March 2008
48 Years Old
Mr. Webster brings over 20 years of management experience throughout the financial services, brokerage and insurance industries, including extensive global wealth leadership experience. Prior to his current position at Fund.com, Mr. Webster was the President and CEO of HSBC Brokerage (USA) Inc., one of the largest banks in the world, where he was responsible for approximately $32.5 billion of client assets. Mr. Webster additionally held a seat on the Board of HSBC Asset Management (Americas) and served as Head of Securities of HSBC North America. In the latter role, Mr. Webster served on the board of directors and oversaw all the wealth management advisory services of HSBC Securities (Canada) Inc. and Merrill-Lynch HSBC (Canada) Inc., and was responsible for trading and execution services for HSBC subsidiaries and international affiliates. Before joining HSBC in 2000, Mr. Webster led the Guardian Life Insurance Company in the formation and SEC Registration of a newly formed broker/dealer, Park Avenue Securities, LLC. Mr. Webster served as President of Park Avenue Securities, where he managed the securities operations and the distribution of wealth management and insurance products through a field force of approximately 4,000 registered representatives across the country. Prior to Park Avenue, Mr. Webster was the Chief Operating Officer for NYLIFE Securities, Inc., a subsidiary of New York Life Insurance Company, where he managed the wealth management proposition for approximately 8,000 registered representatives nationally. Mr. Webster was previously a Director of Private Client Services at Dreyfus Service Corporation, a subsidiary of Mellon Bank. Mr. Webster received his B.S. in Marketing from the School of Business from Arizona State University, and a Masters Degree in Business Administration in Finance from Long Island University.
Compensation for 2008
Salary $208,833.00
Bonus $0.00
Restricted stock awards $0.00
All other compensation $3,190.00
Option awards $ $610,732.00
Non-equity incentive plan compensation $0.00
Change in pension value and nonqualified deferred compensation earnings $0.00
Total Compensation $822,755.00
Fund.com Inc. expected to report Q2 2010 results on August 23, 2010. This event was calculated by Capital IQ
Yep, I got out my wallet and added some more this week!!!!!!! I think this company's going somewhere fast.
Thanks, try this one for an eye opener!!!!!
Roubini: Even If The Economy Doesn't Technically Double Dip, It's Still Going To Be Awful
Vincent Fernando, CFA | Aug. 13, 2010, 11:11 AM \
If you haven't seen it already, I highly recommend this interview with Nouriel Roubini. Particularly he raises the point that while the U.S. may not technically double-dip into a new recession, it's going to feel like it is.
There will be a significant slow-down of growth in the second half of the year, especially since many forms of U.S. stimulus from the first half of 2010 won't be around in the second half.
His view: There will be 1.5% U.S. GDP growth in the second half of 2010, and 1.5% GDP growth for 2011.
"1.5% growth is not a double-dip recession, but it's damn close to it because potential GDP growth is closer to 3%"
At this level of growth... home prices won't stabilize and will fall further.
"Even at 1.5%, it's going to feel like a recession even though technically it's not a recession."
I would only add the question, 'for whom?'.
For masses of Americans, it will indeed feel like a recession, and on a personal level it will basically be one if they aren't employed and are under substantial financial strain. For the luckier Americans out there, likely a minority, it will be a recovery, as it already has been for many. I think Roubini's words bring up an interesting distinction we need to make when considering whether the economy is 'good' or 'bad'. For who? And for what purpose?
1.5% U.S. GDP growth might be ugly for many Americans, but for others it could be just fine. For many companies, it could also be just fine. In addition, from a global growth perspective, which is the stance we personally are most concerned with given our locale outside of the U.S. and simply as a global investor, 1.5% U.S. GDP growth would also be enough to keep the world churning forward with decent global growth, even if for many Americans the situation would remain dire. This isn't to say that their situations should be ignored, it's just that the idea of a 'good' or 'bad' economy always needs to be framed in regards to what your goal or purpose is. From a global investor's perspective 1.5% U.S. GDP growth is a recovery, even if from an unemployed person's perspective in Detroit it's nothing of the sort. That's how the economy can be good and bad at the same time. Anyhow, without further ado, the video:
Video Link Below
insert-text-here
I had a buy in at 0.11 start of trading day and they didn`t want any part of it so I finally bought at the Ask. Looks as though the selling`s done!!!!!!!!! GL
It could be any one of these 4 companies, but I believe Exxon Mobil was the main organizer, so I would put them at the top of the list!!!!!!!!
New Oil Spill Containment System to Protect Gulf of Mexico Planned By Major Oil Companies
WASHINGTON--(BUSINESS WIRE1)--A plan to build and deploy a rapid response system that will be available to capture and contain oil in the event of a potential future underwater well blowout in the deepwater Gulf of Mexico was announced today by Chevron, ConocoPhillips, ExxonMobil and Shell.
“If we all do our jobs properly, this system will never be used”
The new system will be flexible, adaptable and able to begin mobilization within 24 hours and can be used on a wide range of well designs and equipment, oil and natural gas flow rates and weather conditions. The new system will be engineered to be used in deepwater depths up to 10,000 feet and have initial capacity to contain 100,000 barrels per day with potential for expansion.
The companies have committed $1 billion to fund the initial costs of the system. Additional operational and maintenance costs for the subsea and modular processing equipment, contracts with existing operating vessels in the Gulf of Mexico and any potential new vessels that may be constructed will increase this cost commitment.
This system offers key advantages to the current response equipment in that it will be pre-engineered, constructed, tested and ready for rapid deployment in the deepwater Gulf of Mexico. It is being developed by a team of marine, subsea and construction engineers from the four companies.
The system will include specially designed subsea containment equipment connected by manifolds, jumpers and risers to capture vessels that will store and offload the oil. Dedicated crews will ensure regular maintenance, inspection and readiness of the facilities and subsea equipment.
The four companies will form a non-profit organization, the Marine Well Containment Company, to operate and maintain this system. Other companies will be invited and encouraged to participate in this organization.
Work on this new containment system is being accelerated to enhance deepwater safety and environmental protection in the Gulf of Mexico, which accounts for 30 percent of U.S. oil and gas production and supports more than 170,000 American jobs.
The sponsor companies will proceed immediately with the engineering, procurement and construction of equipment and vessels for the system. ExxonMobil will lead this effort on behalf of the four sponsor companies.
The companies are also actively involved in significant industry efforts to improve prevention, well intervention and spill response. This includes rig inspections and implementation of new requirements on blowout preventer certification and well design. The industry has proactively formed several multi-disciplinary task forces to further develop improved prevention, containment and recovery plans.
The companies have reviewed the system with key officials in the federal Administration and Congress and will conduct briefings with other key stakeholders.
Statements from the sponsor companies:
Chevron
“Chevron knows that it can only operate with the public’s confidence that the energy we need will be produced safely and reliably,” said John Watson, chairman and chief executive officer of Chevron. “We are committed to advancing safe operations through enhanced prevention, better well containment and intervention and improved spill response. This new system significantly enhances the industry’s ability to effectively respond to any unforeseen incidents.”
ConocoPhillips
"The oil and gas industry has long been recognized as a technological leader, and the American public expects us to improve our ability to respond immediately to offshore incidents," said Jim Mulva, ConocoPhillips chairman and chief executive officer. "The creation and development of this sophisticated system will greatly enhance industry's ability to ensure a quick and effective response."
ExxonMobil
“If we all do our jobs properly, this system will never be used,” said Rex Tillerson, chairman and chief executive officer of ExxonMobil. “The extensive experience of industry shows that when the focus remains on safe operations and risk management, tragic incidents like the one we are witnessing in the Gulf of Mexico today should not occur.”
Shell
“As an industry, we must rebuild trust with the American people in order to demonstrate that we can produce energy in a safe and environmentally responsible manner,” said Marvin Odum, president, Shell Oil Company. “Beyond Shell’s absolute commitment to oil spill prevention and robust well designs, additional safeguards must be strengthened across the industry to develop the capacity to quickly respond and resolve a deepwater well blowout in the Gulf of Mexico, regardless of how unlikely it is that this situation will reoccur.”
http://www.businesswire.com/portal/site/exxonmobil/index.jsp?ndmViewId=news_view&ndmConfigId=1001106&newsId=20100721006931&newsLang=en
Is this finally the economic collapse?
http://money.cnn.com/2010/08/11/news/economy/economic_collapse_GDP_unemployment.fortune/index.htm
FORTUNE -- The Great Depression. Wall Street in 1987. Japan in 1997. Points of economic collapse are generally crystal clear in the rear-view mirror. Professional politicians in Japan have been telling stories for 20 years as to why they can prevent economic stagnation. In the US, the storytelling started in 2007. All the while, stock market and real-estate prices have repeatedly rallied to lower-highs, then collapsed again, to lower-lows.
Despite the many differences between Japan and the US, there is one similarity that continues to matter most in the risk management model my colleagues and I use at Hedgeye, our research firm -- debt as a percentage of GDP. Now that the US can't cut interest rates any lower, the only option left on the table is what the Fed just announced it would start doing -- buying Treasury debt. And that could lead the country to the brink of collapse: According to economists Carmen Reinhart & Ken Rogoff, whose views we share, crossing the 90% debt/GDP threshold is the equivalent of crossing the proverbial Rubicon of economic growth. It's a point from which it's almost impossible to return.
On July 2nd, we cut both our third quarter 2010 and full year 2011 GDP estimates for the US to 1.7%. At the time, the consensus around US economic growth estimates was about 3%. Now we're starting to see both big brokerage analysts and the Federal Reserve gradually cut their GDP estimates, but not by enough. Even our estimate for 2011 is still too high.
Slowing growth, both domestically and in China, is core to our bearish views on both the strength of the US dollar and US equities. There will be a downward bias to our US growth estimates as long as debt-financed-deficit-spending continues to be the solution politicians and central bankers turn to as a fix to our financial crisis.
Markets trade on expectations. Yesterday's zig-zag in the S&P 500 was unlike most sleepy August trading days in America. That's because the 'government is good' crowd leaked word that this second round of "quantitative easing," known as QE2, was coming, and that Ben Bernanke was going to respond to our buy-and-hope begging. (The first round of quantitative easing was the Fed's unprecedented purchase of agency debt to prop up the housing market, along with credit facilities for big banks, which began in 2008 and ended earlier this year.)
To think that we have institutionalized market expectations to this degree is downright frightening. It seems impossible but true that all rallies start and end with rumors about what Fed Chairman Ben Bernanke, a humble looking man of government, had to say at 2:15 PM EST yesterday afternoon, or any other day he makes a statement.
So now what?
With 40.8 million Americans on food stamps (record high) and 45% of the unemployed having been seeking employment for 27 weeks or more (record high), what's left if (or when) QE2 doesn't kick start GDP growth? Should we start begging for QE3? Should we cancel the bomb of the National Association of Realtors' existing home sales report, scheduled for public release on August 24th? Or should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?
Before the Fiat Fools -- Hedgeye's name for political actors and bankers who have placed their hopes of economic recovery in printing endless supplies of new cash -- run out campaigning for QE3, maybe they should analyze some real time market results to yesterday's announcement of QE2:
1)The US dollar is battling for resuscitation after 9 consecutive down weeks -- down 9% since June.
2) US Treasury yields are making record lows on the short end of the curve, with 2-year yields striking 0.49%.
3) The yield spread (in this case the difference in return between 10-year and 2-year Treasury bills, which shows a long-term confidence when high) continues to collapse, down another 4 basis point day-over-day to 223 basis points.
4) The S&P 500 is down below its 200-day moving average (a common signpost for the health of a market or stock) of 1115.
5) US Volatility (VIX) is spiking from its recent stability.
6) In Japan, long time quantitative easing specialists found their markets closing down overnight by 2.7%, which makes them down 11.9% for the year to date.
Lest our doom and gloom seem built entirely on technical measurements, what they boil down to is actually quite simple -- an idea about our country which dates back to 1835. Alexis De Tocqueville, author of Democracy in America, which was published that year, seemed to warn of this day when he wrote: "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
-- Keith R. McCullough is CEO of Hedgeye, a research firm based in New Haven, Conn.
Yep, most can`t see it on L2, but the orders are coming in and being bid up very nicely. We close GREEN today!!!!!!!!!!
L4 showing 0.065 Bid 0.085 Ask with again more prints going higher on the Ask side as to opposed to lower prints on the Bid side. GLA
That was actually the last trade posted for the day and shows on L4 at 04:30:29pm print.....
This markets through until late Fall. Play this puppy short, trade the strength, but look for some heavy moves down. Lots of money to be made, so lets rake it in!!!!!!!!!!!!!!!!! GLTA
Yep!!! And a BIG red one tomorrow and so on!!!
I hope that the PR was real but why "an un-named company"? That bothers me.
It happens all the time and MOP is bound legally not to divulge the name of any company that ask them not too. If later they allow them to give there name, MOP will. It`s generally in the best interest of one or the other business and again it`s done all the time when companies have some sort of business association.
I`ve got a million conspiracy theories for you but this was not one of them sorry, get real!!!!!!!!!!!!!!!!!!!