Oil Hurricane to Hit New Orleans

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By Douglas A. McIntyre Updated Published
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At 5,000 barrels per day, the leak from the blowout of the Deepwater Horizon is spreading at a rate that would surpass the amount of oil dumped by the Exxon Valdez in another 45 days. While the leak has not been plugged, BP and Transocean are trying to install an underwater dome to trap the oil near the sea floor from where it can then be funneled to the surface for collection. The dome procedure has never been tried at this depth (about 5,000 ft. below the surface). If the attempt fails, there will be nothing to check the rapid advance of the spill towards New Orleans and the fragile Gulf Coast.

Details from the NOAA on the spill, as well as an up-to-the-minute alert system after the break…

  • Winds are forecast to become strong (20+ kts) and blow from the southeast starting tomorrow and continuing through the weekend, which will continue to push surface oil towards shore
  • NOAA oil-spill trajectory analyses indicate that oil continues to move towards shore.
  • 100,000’ of oil-containment booms (or floating barriers) have been deployed as a precaution to protect sensitive areas in the Louisiana area.
  • The effects of oil on sensitive habitats and shorelines in four states (LA, MS, AL, and FL) are being evaluated should oil from the incident make landfall in appreciable quantities
  • NOAA’s Assessment and Restoration Division is evaluating concerns about potential injuries of oil and dispersants to fishes, human use of fisheries, marine mammals, turtles, and sensitive resources

·  Baseline aerial surveys to assess marine life were conducted today with personnel from NOAA’s National Marine Fisheries Service (NMFS), these will continue as needed

A link to up-to-the-minute NOAA emergency updates can be found here.

24/7 Wall St.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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