Thursday, May 20, 2010

Nothing Good

Looks like BP now owns the Gulf of Mexico!

There is a lot of good coverage of the oil spill so I won't bother repeating any of it here. It is not encouraging that the thick oil is now fully invading the Louisiana marshes...there goes thousands and thousands of livelihoods for  a generation or more not to mention the breeding grounds for shrimp, birds and hundreds of other species. Looks like they are going to try a "Top Kill" this weekend by pumping rubber, mud and cement into the well. Never been done at this depth...not encouraging considering the failures so far. The thing that still infuriates me is that BP and the MMS know a blowout was likely maybe even inevitable with this well and did absolutely nothing to prevent it. Now that the oil has reached the loop current the Keys and even the East Coast should start getting very worried. Hell, at this rate oil from the Gulf could be washing up on British beaches before we know it.

Not a good day for the market. Every indicator is off more than 2%. Last I checked the Dow was off 250 points. Now that the market has fallen below the levels seen back in early May who knows where the bottom lies. I wouldn't be surprised to see it fall below 10,000 by next week.

As you can see, I'm blogging in the middle of the day which means I am being lazy. I had to wait around for the A/C guy to come for the spring check-up and now that it is up above 80F I just can't get excited about hitting the garden. Madam has requested banana bread so I'll do that instead.

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