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

Category: Commodities

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

5 Responses to “Oil & Market Correlation, Thunderhorse”

  1. fatbear says:

    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?

  2. Econbrowser says:

    The week in oil markets

    The news from China last week could be the first indication of an extremely important
    development.

  3. Griffith says:

    Make that a $6.5 billion dollar investment.

  4. Econbrowser says:

    The week in oil markets

    The news from China last week could be the first indication of an extremely important
    development.

  5. Econbrowser says:

    The week in oil markets

    The news from China last week could be the first indication of an extremely important
    development.