Gulf or Mexico Oil Spill

[TenaciousG]

Not sure what the hell it means but interesting comments relative to Matt Simmons...

 

Oceanographer John Kessler analyzes methane levels from oil spill site

 

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Unbelievable pictures from the oil spill in Dalian China!

 

Dalian China Oil Spill

 

[TenaciousG]

Nice piece on Matt Simmons

 

Source: Is Matt Simmons Credible?

 

 

Exceprt:

Simmons’ Sensational Claims on the Gulf Spill

In these and various other interviews, Simmons claims:

 

1. Use of a small bore nuclear device is the “only option” to stop the flow of oil.

 

I don’t want a banker who doesn’t know what fuzzy logic is being taken seriously on the issue of using nukes in the Gulf of Mexico.

 

2. BP would be insolvent by July 8, 2010. He has also stated several times that the stock is going to zero.

 

While I have said that I don’t think the BP brand can continue in the long run, I wouldn’t call them insolvent and it will certainly take some time for the legal issues to play out. A prediction of insolvency by July 8th was ridiculous. Simmons has also shorted BP stock, so some of this may be wishful thinking on his part.

 

3. The “real, untold story” is another leak that is 5-7 miles away spewing 120,000 bbls/day.

 

I haven’t the faintest idea where he came up with this, but I have spoken to several experts who say the chance of that is zero.

 

4. That there is an underground lake of oil that is 500 feet thick, 100 miles wide, and may be covering 40% of the Gulf of Mexico.

 

As one person calculated, that would equate to 500 trillion barrels of oil; total global reserves are estimated in the region of 2 trillion barrels.

 

5. The leak could last 24 years.

 

He believes this, because short of the nuclear weapon idea he sees no other way to stop the leak and thinks we may have to wait for all of the oil to come out of the reservoir. Meanwhile, the news is thatBP is starting to get the leak under control.

 

6. The gulf states need to be evacuated.

 

Simmons says “We’re going to have to evacuate the gulf states. Can you imagine evacuating 20 million people? . . . This story is 80 times worse than I thought.”