Friday, April 19, 2024

America is in a Deepwater Horizon Moment

www.americanthinker.com 

By Edward Acosta

Moments like the one we live in now come along from time to time, providing the opportunity to learn from the mistakes of the past.  For instance, key takeaways from the Deepwater Horizon incident of April 2010 and how they apply to today are clear except to those who deny them.

On Apr. 20, 2010, an explosion occurred on the Deepwater Horizon drilling platform in the Gulf of Mexico. The explosion, which killed 11 men, caused the rig to sink into the deep and started a devastating oil leak from the well. Prior to it being capped three months afterward, roughly 134 million gallons of oil had spilled into the Gulf, making it the biggest offshore oil spill in U.S. history and subsequently cost British Petroleum (BP) up to $8.8 billion in remediation costs and a $5.5 billion Clean Water Act penalty.

Under the surface of the oil rig were disastrous conditions waiting to explode. But pressure from BP officials with just enough knowledge of how the pressure testing worked to be dangerous, caused, in part, the crew and employees who actually knew better to acquiesce, which allowed the theoretical danger to become a literal “well from hell.”

The Takeaways

Takeaway number one: Today, the financial pressure percolating below the surface of trillions of dollars of debt is being denied as a problem by the so-called experts who know just enough about economics to be dangerous. At some point the pressure will be too much not just for the U.S. but for the nations to whom the U.S. is indebted as well. The results will be a global catastrophe.

However, just as with the Deepwater Horizon, where needless suffering and death could have been avoided if the “experts” had listened to the people with the experience running the rig, so too global disaster can be avoided if the people with the experience resist the pressure of the so-called experts.

The movie Deepwater Horizon (with Mark Wahlberg and Kurt Russell) does a good job of showing the trauma the surviving employees endured. It is this aspect of the incident that is most impactful. The trauma and havoc of global hunger and disease and enduring war seen in the world today are largely caused by experts so far removed from them in their ivory towers. The displaced, the dead, and the forgotten are considered collateral damage of the utopia that will surely emerge once the burden of shared global tyranny is achieved.

The second takeaway from the incident is expressed by one of the maintenance crew when a BP official manipulated crew members to conduct dangerous tests hoping the results would confirm his conclusions that all was well. The maintenance crew member said that “hope is not a tactic,” meaning that the BP official should halt the testing until confirmation that the well was sound, instead he hedged a bet that nothing was wrong with the well based on a test he “hoped” would confirm his assessment of the situation. In reality, death was the result of that hope.

According to the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling, made public January 2011: CLICK HERE TO CONTINUE

U.S. Cities Fall Into A “Doom Loop” As The CRE Crisis Absolutely Explodes

 theeconomiccollapseblog.com


In the entire history of the United States, we have never witnessed an urban collapse of this magnitude.  During the pandemic, millions of Americans started working from home, and many of them have never returned to the office.  Meanwhile, rapidly rising levels of crime, homelessness and migration have transformed many of our inner cities into extremely dangerous places.  

As a result, thousands upon thousands of businesses have left our core urban areas in search of greener pastures.  So now there is lots and lots of commercial real estate space that is sitting empty, and commercial real estate prices have absolutely plummeted.

At this moment, we are in the midst of a meltdown that I believe will eventually be regarded as the worst commercial real estate collapse that America has ever seen.

In fact, we just learned that the number of commercial real estate foreclosures in March was 117 percent higher than it was during the same month in 2023.

The commercial real estate market is starting to buckle under the weight of higher interest rates and remote work.

There were 625 commercial real estate foreclosures in March, up 6% from February and 117% from the same time last year, according to a new report published by real estate data provider ATTOM.

Things are particularly bad on the west coast.

The struggles of San Francisco and Los Angeles are well documented, and so it is not much of a surprise that last month commercial real estate foreclosures in the state of California were up 405 percent compared to the same month last year…

California had the highest number of commercial foreclosures in March, with 187 properties. While that marked an 8% decrease from the previous month, it is a stunning 405% jump from the previous year.

“California began experiencing a notable rise in commercial foreclosures in November 2023, surpassing 100 cases and continuing to escalate thereafter,” the report said. CLICK HERE TO CONTINUE

Migrants Complain That New Yorkers Don’t Learn African Languages

modernity.news


A hearing held earlier this week in New York by the Council’s immigration and hospital committees saw black migrants who have arrived in the city airing their grievances about public services they have been provided, including food and accommodation, with one woman even complaining that New Yorkers won’t learn Congolese languages.

The hearing drew over a thousand immigrants, mostly from countries in Africa, and many illegally in the country, with some claiming that they had been promised money, green cards or work visas if they attended.

The hearing was touted in a press release as aimed at African migrants in shelters to “understand how the [Adams] Administration is addressing language access barriers, cultural competency challenges, health needs, and other roadblocks.”

At one point during the hearing, which lasted for over SIX HOURS, the conversation turned to language services offered by the state, with some migrants complaining that Spanish and English speakers are given priority, and African immigrants are unfairly excluded.

It was then pointed out that many immigrants are illiterate and can only speak their native language and further suggested that New Yorkers “refuse to accommodate” by not learning those languages.

There are 3,000 languages spoken across Africa, with many having hundreds of different dialects.

At another point in the hearing, City Councilwoman Vickie Paladino challenged the complaints, noting “I’ve been listening to everybody speak and making demands on New York City to do MORE MORE MORE.”

“How much more are we supposed to do?” she urged, adding “this system is so overworked and overburdened. We don’t have the resources.”

SEE VIDEOS

National Security Implications of Baltimore Bridge Catastrophe


The Port of Baltimore is “closed until further notice” following the Francis Scott Key Bridge tragedy, sending several industries into disarray and jeopardizing national security.

In 2023, the port handled a record amount of international cargo, ranked ninth for both dollar value and tonnage in the United States. Vital for both imports and exports of a variety of commodities, the Port of Baltimore has always had international significance and the impact of its closure will be wide-ranging and long-term for the supply chain in the United States and beyond. Given the seriousness of this issue, Congress must come together to approve the funding to clean up the debris, reopen the channel, and rebuild the bridge.

Having three decades of experience in the United States military, and with foreign affairs and national security issues I can safely say that the reverberations of the disaster will be felt across the globe. The repercussions with regards to energy security are of specific concern and must be addressed.

Domestically, the impacts of these hiccups in the energy supply chain are already being felt. CSX’s Curtis Bay Piers in particular – heavily impacted by the bridge collapse – supplies coal to power the Maryland electric grid and provides metallurgical coal critical for the steel industry. The inability to ship energy supplies from this terminal has created a ripple effect in both sectors. A warning from the Energy Information Administration (EIA), meanwhile, that the bridge collapse and subsequent impact to the port will slow the growth of U.S. coal exports to our allies has also weakened that supply chain of growing importance.

International demand for American coal has been on the rise in the past few years due to Europe’s tightening energy supply, low natural gas reservoirs, and conflict in the region as many countries like Ukraine turned elsewhere to get their energy commodities. As the second-largest exporting hub for coal in the United States, accounting for nearly one-third (28 percent) of total exports in 2023, the Port of Baltimore has helped meet that demand.

While most of the coal exported from the Port of Baltimore was historically destined for locations outside of Europe, it has increasingly been finding its way to countries on the continent dealing with rising Russian aggression, providing them an alternative to forced reliance on Russian energy supplies. But with the port’s unspecified closure and reopening timelines, American allies around the world may be forced to turn back to Vladimir Putin and his cronies. This will give Russia undue power, in Europe in particular, which has historically relied heavily on Russian imports of coal, oil, and natural gas.

China’s rise and efforts to use energy and infrastructure connections to extend their reach and influence around the world have also been a growing concern for years now. Its Belt and Road Initiative includes significant investments in energy infrastructure across Asia, Africa, and Latin America, and has been used to extend its influence by becoming a partner in meeting these regions' energy needs. The disruption in the flow of energy resources that has occurred as a result of the Port of Baltimore’s indefinite closure could subsequently force some U.S. allies to seek alternative suppliers and with the country’s coal output hitting record highs in 2023, it may provide an opening for the Communist Country to further assert itself on the world stage.

Energy independence and security means having enough energy to meet demand, as well as protecting power systems and infrastructure from physical attacks and cyber threats. Given these facts, the United States should be focused on bolstering the resiliency of its own energy supply chain – as well as strengthening connections with allies who are also concerned about the rise of Chinese and Russian influence around the world – by prioritizing the restoration of the Port of Baltimore. This will not only restore a vital link in the nation's energy supply chain but also signal to adversaries that the United States is committed to safeguarding its infrastructure and, by extension, its ability to act freely on the international stage.

Maryland Governor Wes Moore recently highlighted the need for quick cleanup, noting that “we need to make sure that we're actually moving quickly to get the American economy going again, because the Port of Baltimore is instrumental in our larger economic growth." Given the domino effects of its continued closure – most specifically to national security and energy independence across the globe – leaders in Washington must come together to quickly clean up and repair access to the port.

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America is in a Deepwater Horizon Moment

www.americanthinker.com   By   Edward Acosta Moments like the one we live in now come along from time to time, providing the opportunity to ...