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Nalco manufactures Corexit. Nalco is owned by Goldman Sachs, Apollo and Blackstone.

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boston bean Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 06:53 PM
Original message
Nalco manufactures Corexit. Nalco is owned by Goldman Sachs, Apollo and Blackstone.
You may draw your own conclusions.
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charlesg Donating Member (311 posts) Send PM | Profile | Ignore Fri May-21-10 06:57 PM
Response to Original message
1. Rodney F. Chase, who sits on the board of Nalco, was a BP board member
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tridim Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 06:59 PM
Response to Reply #1
2. And with that the circle-jerk is complete.
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boston bean Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 07:01 PM
Response to Reply #2
3. Goldman will soon have the honor of destroying our entire fucking country!
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amborin Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 02:57 PM
Response to Reply #2
18. +1
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Occulus Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 03:58 PM
Response to Reply #2
20. So obvious it's not even "conspriacy"-worthy.
Corporate boardrooms are full of incestuous relationships and lateral movement of all sorts and it's been that way for a very, very long time now. So long it's accepted as just a basic fact of corporate operations.

In the words of Mr. Horse, "No sir... I don't like it."
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Autumn Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 07:10 PM
Response to Original message
4. Goldman Sachs. Now there's a maggot in
your sandwich. :puke: How fitting, help destroy our economy and the Gulf. How cozy. Those fuckers are worse than fucking cancer.
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glitch Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 08:35 PM
Response to Reply #4
7. Hard to imagine being worse than fucking cancer.
Yet somehow they achieved it.
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 07:17 PM
Response to Original message
5. Giant vampire squid family
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laughingliberal Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 12:49 PM
Response to Reply #5
12. +10,000,000,000 eom
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tomm2thumbs Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 02:23 PM
Response to Reply #5
15. also goes for the Cheneys, but appropriate here for sure
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chill_wind Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 08:27 PM
Response to Original message
6. Well well well.
I've been wondering about such things. Where did you find this? K & R.
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chill_wind Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 10:24 PM
Response to Original message
8. Seems so.
Edited on Fri May-21-10 10:48 PM by chill_wind
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amborin Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 02:56 PM
Response to Reply #8
17. "Goldman Sachs recommends buying more shares of BP" typical.....
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chill_wind Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 11:49 AM
Response to Original message
9. ..
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blindpig Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 12:38 PM
Response to Original message
10. Can we please just kill Capitalism
before it kills us?
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G_j Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 12:46 PM
Response to Original message
11. Nalco sold less effective oil dispersant for Gulf ($40M)
Edited on Sat May-22-10 12:56 PM by G_j
http://thinkprogress.org/2010/05/17/bp-dispersant-toxic /

BP chose more toxic, less effective oil dispersant manufactured by company with close ties to oil giant.

As BP believes it has finally made progress plugging the massive oil leak in the Gulf of Mexico, it has managed to prevent much of the oil already released from washing onshore by using huge quantities of oil dispersants. BP rounded up a third of the worlds available supply of dispersants and has been deploying them aggressively. But Greenwire reports that the chemical BP is using is more toxic and perhaps even less effective than other available dispersents:

So far, BP has told federal agencies that it has applied more than 400,000 gallons of a dispersant sold under the trade name Corexit and manufactured by Nalco Co., a company that was once part of Exxon Mobil Corp. and whose current leadership includes executives at both BP and Exxon. And another 805,000 gallons of Corexit are on order, the company said, with the possibility that hundreds of thousands of more gallons may be needed if the well continues spewing oil for weeks or months.

But according to EPA data, Corexit ranks far above dispersants made by competitors in toxicity and far below them in effectiveness in handling southern Louisiana crude.

Of 18 dispersants whose use EPA has approved, 12 were found to be more effective on southern Louisiana crude than Corexit, EPA data show. Two of the 12 were found to be 100 percent effective on Gulf of Mexico crude, while the two Corexit products rated 56 percent and 63 percent effective, respectively. The toxicity of the 12 was shown to be either comparable to the Corexit line or, in some cases, 10 or 20 times less, according to EPA.

BP shares close ties with Nalco

...more..


http://www.businessweek.com/ap/financialnews/D9FOSLVO0....



Nalco says sold $40M in dispersants for Gulf spill


NEW YORK

Water treatment company Nalco, which makes the chemicals being used to disperse gushing oil in the Gulf of Mexico, said Monday it has done about $40 million in business since the crisis started last month.

Nalco's products are designed to break up the crude oil into small particles that can be digested by ocean bacteria. In addition to skimming and burn efforts, massive amounts of dispersants have been dumped into the ocean to try to slow the oil's movement toward shore and head off major injury to coastal wildlife.

Nalco Holding Co. said requests for dispersants for use in the region will reach about $40 million by the end of this week. That's equal to about 1 percent of the company's expected annual revenue.

..more.
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laughingliberal Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 12:51 PM
Response to Reply #11
13. Revealing, indeed. eom
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 04:46 PM
Response to Reply #11
22. The main rationale that BP can use to assert that it has
Edited on Sat May-22-10 04:47 PM by truedelphi

made progress plugging the massive oil leak in the Gulf of Mexico, and it has managed to prevent much of the oil already released from washing onshore by using huge quantities of oil dispersants.


Involves the fact that the Obama Administration is allowing British Petroleum folks to state that only 5,000 gallons a day are leaking, when the correct estimate of displace oil is on the order of 4 Million gallons a day.

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amborin Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 09:09 PM
Response to Reply #22
23. the dispersant is not only very toxic but its effect is mainly cosmetic
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Desertrose Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 12:52 PM
Response to Original message
14. No surprise here.
None at all.

Bastards. Greedy bastards.
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amborin Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 02:32 PM
Response to Original message
16. so glad you made this an OP!
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Vinca Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 03:13 PM
Response to Original message
19. Follow the money . . . as usual.
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Canuckistanian Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-10 04:13 PM
Response to Original message
21. Nalco's share price jumped 18.27% on May 4th
Edited on Sat May-22-10 04:14 PM by Canuckistanian
Nalco Holding Co. (NYSE:NLC) - Shares of the global provider of integrated water treatment and process improvement services, chemicals and equipment programs jumped 18.27% earlier in the trading day to a new 52-week - and intraday - high of $29.25 on news the firm is ramping up production of a chemical to manage the spreading oil slick in the Gulf of Mexico. Bullish options investors rejoiced in Nalcos share price rally by purchasing call options on the stock. Near-term optimists picked up 1,300 calls at the May $30 strike for an average premium of $1.00 apiece. Bullish sentiment spread to the June $30 strike where 1,400 call options were purchased for an average premium of $1.29 each. June contract call-buyers stand prepared to amass profits should shares of the underlying stock rally 14.75% over the current price ($27.27 as of 12:55 pm (ET)) to surpass the average breakeven point at $31.29 by June expiration day. The surge in investor demand for options on the stock combined with the massive rally in the price of the underlying shares lifted Nalcos overall reading of options implied volatility 116.1% to 61.73% just ahead of 1:00 pm (ET).


http://www.dailymarkets.com/options/2010/05/04/stock-ma... /

Sounds like environmental disaster is cause for major partying down at Nalco headquarters.
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