That Dirty Tar Sands Oil

… doesn’t seem that dirty anymore:

A record of success in the Alberta oil sands and the oil spill in the Gulf of Mexico are expected to whet investors’ appetite for a $1.25-billion initial public offering from MEG Energy Corp., the latest in a series of mega-deals from Canada’s oil patch.
After a decade of raising private money from blue-chip backers in Britain and China, along with his family and friends, MEG founder and chief executive officer William McCaffrey plans to take his company public this summer. MEG needs money to pay for a $1.4-billion expansion of its properties over the next two years that is expected to more than double the company’s oil production to 60,000 barrels a day.

Just think how inviting those vast shoals of tar will be if the hyperbole at The Drum turns out to be true:

First of all…set aside all your thoughts of plugging the well and stopping it from blowing out oil using any method from the top down. Plugs, big valves to just shut it off, pinching the pipe closed, installing a new bop or lmrp, shooting any epoxy in it, top kills with mud etc etc etc….forget that, it won’t be happening..it’s done and over. In fact actually opening up the well at the subsea source and allowing it to gush more is not only exactly what has happened, it was probably necessary, or so they think anyway.
So you have to ask WHY? Why make it worse?…there really can only be one answer and that answer does not bode well for all of us. It’s really an inescapable conclusion at this point, unless you want to believe that every Oil and Gas professional involved suddenly just forgot everything they know or woke up one morning and drank a few big cups of stupid and got assigned to directing the response to this catastrophe. Nothing makes sense unless you take this into account, but after you do…you will see the “sense” behind what has happened and what is happening. That conclusion is this:
The well bore structure is compromised “Down hole”.
That is something which is a “Worst nightmare” conclusion to reach. While many have been saying this for some time as with any complex disaster of this proportion many have “said” a lot of things with no real sound reasons or evidence for jumping to such conclusions, well this time it appears that they may have jumped into the right place.
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All of these things lead to only one place, a fully wide open well bore directly to the oil deposit…after that, it goes into the realm of “the worst things you can think of” The well may come completely apart as the inner liners fail. There is still a very long drill string in the well, that could literally come flying out…as I said…all the worst things you can think of are a possibility, but the very least damaging outcome as bad as it is, is that we are stuck with a wide open gusher blowing out 150,000 barrels a day of raw oil or more. There isn’t any “cap dome” or any other suck fixer device on earth that exists or could be built that will stop it from gushing out and doing more and more damage to the gulf. While at the same time also doing more damage to the well, making the chance of halting it with a kill from the bottom up less and less likely to work, which as it stands now?….is the only real chance we have left to stop it all.
[…]
We need to prepare for the possibility of this blow out sending more oil into the gulf per week then what we already have now, because that is what a collapse of the system will cause. All the collection efforts that have captured oil will be erased in short order. The magnitude of this disaster will increase exponentially by the time we can do anything to halt it and our odds of actually even being able to halt it will go down.
The magnitude and impact of this disaster will eclipse anything we have known in our life times if the worst or even near worst happens…

… keep reading.
Update: Counter argument to the worst case above.