You Decide

After finding this article with video I pulled two other articles I'd posted which leaned toward sensationalism without investigation. 

Thank you Mr. Denninger for setting the record straight.

___________

Posted by Karl Denninger in Oil The World at 11:02

"CAUTION: Envirowhackjobs On The Loose?

Reported by Bloomberg, CNBS, and everyone else - without first checking the facts:

Earlier we published speculation from satellite analytics group SkyTruth that there may be a second leak in the Gulf. A freelance pilot and photographer confirmed these rumors and a possible coverup.

They then present the following video:

Yes, there's a leak there.

But there is neither a cover-up or anything new related to this.

From the MMS via NOLA:

The other, the Diamond Ocean Saratoga, is operated by Taylor Energy, which has been in the process of plugging and abandoning a Mississippi Canyon well where the platform was toppled during Hurricane Ivan. The Diamond Ocean Saratoga is the only one on the MMS list that is operating at a depth of less then 500 feet.

Hurricane Ivan was in 2004 and hit my house!

Diamond Offshore (NYSE: DO) along with Transocean (NYSE: RIG) are both getting trashed this morning in no small part, I presume, based on this "disclosure", even though it is not a disclosure at all but rather is a hit piece - the company in question is working to plug and abandon a damaged well that happened six years ago.

There is every reason to be skeptical and ask questions but the "mainstream tout TV hype-based media" ought to pay attention to their facts before reporting what clearly appears to be utter and complete crap.

We have enough to deal with in regards to the Deepwater Horizon rig that really did sink during a real drilling operation and really is spewing oil into the water due to what appears to be human hubris - and needs to be plugged.

Casting aspersions on the companies that are fixing existing damage from a storm that happened some time ago and, it appears, painting their operations in a false light, along with alleging a "coverup" where a quick check of the facts appears to show precisely the opposite, is not "journalism" - it is sensational garbage that has no basis in reality.

I might have the wrong rig, but given that this is a specific exemption to the "tools up" call from MMS, I sorta doubt it.

Go after the real bad guys, not God and definitely not those men and women who are trying to mitigate damage done by God, not man."

http://market-ticker.org/archives/2384-CAUTION-Envirowhackjobs-On-The-Loose.html