Archive for OIL

Israel’s Grand Coalition Reduces Chances of War with Iran

Posted in War with tags , , , , , , on May 8, 2012 by britishloyalist

In a last minute deal, Israel’s largest party joined the government to form a grand coalition and push back planned elections to the end of 2013.
The politicians in the this government are mostly committed to remain in their seats, and not rocking the boat in the near future. This certainly reduces the chances of a strike against Iran’s nuclear facilities and will add to the downward pressure on oil prices.
Dirty Politics
The Israeli parliament was already deep in the process of approving early elections on September 4th. Also politicians were warming up, and many seemed keen to go to the people, including PM Binyamin Netanyahu, who leads the right-wing government.
Yet the leader of Israel’s largest party, centrist Kadima, was set for a severe loss in these elections. Also defense minister Ehud Barak was likely to end his career gaining no seats in the new parliament. Also some other leaders had an interest to cling to power and avoid elections, fearing the recovering Labor Party and a new party led by former journalist Yair Lapid.
In a deal made late at night, just before the final vote on the election law, Kadima and ruling party Likud reached a deal: Kadima’s leader, Shaul Mofaz would join the government. The elections are now pushed back to the original date: late 2013. Perhaps Netanyahu saw Hollande’s victory in France and feared the same fate.
Political Calm
Shaul Mofaz is a former chief of staff, like defense minister Barak. Nevertheless, Mofaz, born in Iran, is openly opposed to any strike on Iran and said that this is not the time and that this should be left for the Americans.
He also blamed Prime Minister Netanyahu for manipulating the Iranian story to change the agenda from the social justice protests that rocked the country in the summer of 2011 and are still high on the agenda.
Mofaz did not live up to his word by joining Netanyahu’s government. However, with a coalition encompassing most of the current parliament, and with elections due only in a year and a half, it’s hard to see the current leaders rushing for an attack on Iran.
In addition, the US is putting pressure on Israel not to make any move at least until the US elections in November.
Israel, Iran, Oil and the Dollar
So, it’s reasonable to expect that Israel will not strike Iran at least in the next 6 months and will also move to other things on the Israeli agenda such as recruiting ultra orthodox Jews to the army, as the controversial “Tal law” expires.
Lower rhetoric or no rhetoric regarding Iran means more downward pressure on oil prices. This goes hand in hand with the global slowdown that already weighs on crude oil.
Lower oil prices leave more money in the pockets of Americans, boost the US economy and support a stronger dollar.

when the wind blows part 1

Posted in British Government, Vids with tags , on April 23, 2012 by britishloyalist

WWIII Update – China Has a Naval Base near the Straits of Hormuz!!

Posted in War with tags , , , on April 7, 2012 by britishloyalist

Operation to stop North Sea gas leak could take six months

Posted in British Government with tags , , , on March 27, 2012 by britishloyalist

IT could take as long as six months to drill a relief well to stop a gas leak at an offshore platform, operators Total have said.
The company are looking at several options on how to stem the release of gas which started on Sunday.
All 238 workers were evacuated from the company’s Elgin PUQ platform, about 150 miles off the coast of Aberdeen, following the discovery of the leak on Sunday.
An exclusion zone of two miles has been set up around Elgin, with ships and aircraft ordered to stay away from the area.
Shell have reduced their workforce on two offshore installations close to the Total platform as a precaution.
Around 85 staff have been taken off the company’s Shearwater platform and the nearby Noble Hans Deul drilling rig, leaving a workforce of 117 people.
Shell also said they have brought forward plans for maintenance at Shearwater and are shutting down production in a “controlled manner”.
Total E&P UK, who operate the Elgin platform, said they were taking “all possible measures” to try to identify the source and cause of the leak and to bring it under control.
The company are considering various options for dealing with the leak, one of which is drilling a relief well which could take six months.
David Hainsworth, health, safety and environment manager for Total, told the BBC the situation poses risks.
He said: “The gas is flammable but the platform power was turned off to minimise risk of ignition but clearly there is a risk. We have taken away a series of risks but there is always a possibility. It’s low but you never say never.
“The best-case scenario is that the gas in this area is not very productive and it dies off in the coming days and weeks.”
A sheen on the water is present near the platform, estimated to extend over 4.8 square kilometres (1.85 square miles) and measures between two and 20 tonnes in volume.
Total insisted its preliminary assessments indicate there has been no significant impact on the environment because of the leak.
Offshore union RMT welcomed the quick evacuation of the platform but called for urgent action to stop the leak.
RMT offshore organiser Jake Molloy said: “Total acted very swiftly in getting everyone off but the potential still exists for catastrophic devastation.
“If the gas cloud somehow finds an ignition source we could be looking at complete destruction.
“This is an unprecedented situation and we really are in the realms of the unknown but the urgent need now is to find a way of stopping the flow of gas.”
RSPB Scotland called for transparency from Total.
Director Stuart Housden said: “We hope that, second to minimising risks to people, environmental considerations will be foremost in the mind of Total when considering their response to this situation.
“We urgently need to know exactly what environmental impacts the leaking substances could have.”
The Scottish Government said it is monitoring the developments.
Environment Secretary Richard Lochhead said: “Efforts by Total to resolve the gas leak are ongoing.
“As the situation currently stands, impact on the environment, which is the Scottish Government’s area of responsibility, is minimal.”
Total E&P UK said it met the Secretary of State’s representative, the Health and Safety Executive, the Department of Energy and Climate change, Marine Scotland and the Coastguard yesterday.