Oil & Market Correlation, Thunderhorse

Sunday, July 17, 2005 | 06:30 AM

A few interesting oil data points:

Gary B. Smith of Real Money agrees that there is no inverse correlation as of yet:

]Oil_7_years

>
Also, check out British Petroleum's 42,000-square-foot, billion dollar oil platform in the Gulf named Thunderhorse.  It is listing precariously:

click for larger photos
Bps_thunderhorse_3

Bps_thunderhorse_1

 


via Pitpundit Blog 



Sources:
Do Oil and the Market Mix?
Gary B. Smith
Real Money, 7/14/2005 12:36 PM EDT
http://www.thestreet.com/_rms/comment/gbs/10232253.html

BP's Thunderhorse platform still listing precariously - pictures
By Tim Wood
13 Jul 2005 at 11:53 AM
http://www.resourceinvestor.com/pebble.asp?relid=11305

Sunday, July 17, 2005 | 06:30 AM | Permalink | Comments (2) | TrackBack (3)
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The news from China last week could be the first indication of an extremely important development.

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Comments

Thunder Horse was to be brought on-line later this year, and was to represent more than 1% of total US oil use by next year (250K b/d). In addition, it was the first use of North Sea deepwater technology in the Gulf, and any failure requiring a heavy re-think of that tech would be a setback to expected supply from these blocks.

FT has mused that Thunder Horse sinking would be $4B hit to BP.

P.S. - are these on-topic enough?

Posted by: fatbear | Jul 17, 2005 4:22:04 PM

The comments to this entry are closed.



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