I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Posted: Thu Sep 04, 2008 8:49 am Post subject: Re: Port Fourchon & the LOOP -Aftermath..what to expect
Difficult to estimate the long term effect of Fourchon troubles. It's primarially a transportation hub. No significant processing or construction done there. Other ports, like Intracoastal City can pick up the some of the duty. The choper transport should be back in business before most other aspects...as soon as they ferry the chopers back. But they just move personnel. Heavy equipment and drillling materials will be the difficult aspects. Much of the day-to-day drilling commodities are transported in bulk form via very big boats. The rigs carry a certain amount of inventory but eventually they'll have to stop drilling as some of this materials relate to safety issues.
My S La. venders didn't show up in Houston this morning. I suspect they're still dealing with family issues. Another factor that will cause delays in any repair efforts.
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Thu Sep 04, 2008 4:24 pm Post subject: Re: Port Fourchon & the LOOP -Aftermath..what to expect
Quote:
The LOOP reports that they have several days of normal throughput in storage and will begin moving that crude oil when power is restored. Damage to Entergy’s coastal transmission system is delaying power from reaching the LOOP and its offshore facilities. LOOP officials are starting up generators once transportation and communications logistics improve.
NEW YORK, Sept 3 (Reuters) - The Louisiana Offshore Oil Port said on Wednesday it hopes to resume crude oil deliveries to coastal refineries by Thursday using onshore storage, and added that marine operations offshore could resume by the weekend.
"We found no visible damage offshore, but we need to get out there and we're working on that now," a spokeswoman said.
LOOP, the nation's only deepwater offshore oil port and a key conduit for foreign oil shipments, halted operations ahead of Hurricane Gustav.
Reuters _________________ It's already over, now it's just a matter of adjusting.
Posted: Fri Sep 05, 2008 5:40 am Post subject: Re: Port Fourchon & the LOOP -Aftermath..what to expect
Quote:
Hurricane Gustav leaves Port Fourchon crippled
No electricity expected at key oil facility for weeks Friday, September 05, 2008
byr)[615]>From staff reports Times-Picayune Sept 5.2008 nola.com
Three days after Hurricane Gustav made landfall, more than 95 percent of Gulf of Mexico oil production is still shuttered and a key hub for the offshore petroleum industry remains without power.
Gustav slammed into Port Fourchon, a hub used by more than 60 companies to service Gulf rigs and platforms, before coming ashore in Cocodrie on Monday. Port Fourchon also houses the Louisiana Offshore Oil Port, a facility that receives about 12 percent of the nation's oil imports.
Director Ted Falgout said Thursday that Port Fourchon may not be able to receive power for four to six weeks. He also said storm sediment and stones displaced from a jetty may leave one of the port's channels impassable for as long as a week.
Meanwhile, the energy sector is beginning to reoccupy its facilities in the Gulf of Mexico, although the bulk of oil and gas production remains shut down. More than 87 percent of the Gulf's natural gas production remained shut down on Thursday, down from 92 percent on Wednesday. More than 95 percent of Gulf oil production remained shut down on Thursday, the same amount as Wednesday. [/quote]
As of Thursday, 73 percent of the platforms in the Gulf and 52 percent of the rigs in the Gulf remained evacuated. Platforms are the offshore structures from which oil and natural gas are produced. Rigs are offshore drilling facilities.
Oil and natural gas driller Ensco International said Thursday that it is continuing to return workers to rigs in the Gulf of Mexico. A company spokesman said a flyover had revealed no damage to the rigs.
Diamond Offshore Drilling said it planned to return most workers to rigs by Friday, and that normal drilling operations will restart a few days later. [quote]
Joined: Apr 16, 2008 Posts: 121 Location: Western PA, USA
Posted: Fri Sep 05, 2008 9:29 am Post subject: Re: Port Fourchon & the LOOP -Aftermath..what to expect
Yet oil is down almost 2 dollars today on this news. Couple this with OPEC suggesting production cuts, and I cannot see how we avoid gasoline shortages from this because the pricing signal is off( gasoline falling instead of rising to keep supply/demand in balance.) This could be a big problem soon enough if Port Forhourn stays shut for more than a couple weeks.
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Fri Sep 05, 2008 10:05 am Post subject: Re: Port Fourchon & the LOOP -Aftermath..what to expect
Quote:
Louisiana Oil Port Resumes Offloading Tankers, Deliveries
DOW JONES NEWSWIRES
September 5, 2008 11:55 a.m.
The Louisiana Offshore Oil Port has resumed operations at reduced capacity, nearly a week after shutting down ahead of Hurricane Gustav.
The port was not damaged by the hurricane, but is operating on emergency power owing to widespread outages in the local electric grid, according to a statement. LOOP offloads oil from tankers at an offshore facility, and sends crude to refineries in Louisiana and Texas, as well as to the Midwest via the Capline pipeline.
LOOP cannot operate all of its pumps on backup power, slowing the bringing of oil from tankers to shore, and limiting the amount of crude that can be piped to area refineries and pipelines. The port can process 1.2 million barrels a day at full capacity. About 10% of imported oil passes through LOOP.
LOOP began offloading tankers at 3:18 a.m. EDT on Friday, and resumed deliveries from its oil-storage facilities before 10 a.m. EDT.
WSJ _________________ It's already over, now it's just a matter of adjusting.
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Sun Sep 14, 2008 12:48 pm Post subject: Re: Port Fourchon & the LOOP -Aftermath..what to expect
Quote:
As of 9:15 AM EDT September 14, the LOOP reports that it continues to operate limited operations from its Clovelly storage facility. Tanker offloadings remain suspended. Capline, which receives its crude oil from the LOOP, reported reduced movements along its pipeline.
DOE _________________ It's already over, now it's just a matter of adjusting.
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