Matthew Simmons Discusses BP's Oil Leak in Gulf of Mexico

[DeSwiss]

Run time: 07:02 https://www.youtube.com/watch?v=DwX9RXFRJD4   Posted on YouTube: July 21, 2010 By YouTube Member: Bloomberg Views on YouTube: 28874   Posted on DU: July 23, 2010 By DU Member: DeSwiss Views on DU: 1103

 

Oh Beautiful for smoggy skies, insecticided grain,
For strip-mined mountain's majesty above the asphalt plain.
America, America, man sheds his waste on thee,
And hides the pines with billboard signs, from sea to oily sea.
~George Carlin

[stlsaxman]

1. Matt Simmons: "If there's a hurricane they'll have to evacuate the Gulf Coast"

[jimlup]

2. Technically I don't follow him

He keeps saying that the BOP isn't the site of the actual leak = that it was throw out of the hole by the explosion and that the relief wells won't work. I'd like to see a technical explanation of what he's saying.

I don't think he's correct but given BP's behavior recently, I'd say there is a 10% that he's right and I'm wrong.

[OKDem08]

3. I'm not following him either

Is he saying that this cap only diverted the flow elsewhere?

[Hissyspit]

4. The new cap diverts the flow to tankers which gather the oil.

Is that what you are asking?

[Hissyspit]

5. I so have the hots for Lizzie O'Leary. She used to be on NPR.

Once said her dream interview was Otis Redding.

[jimlup]

8. I think he means that the BOP is not actually over the real leak...

That's what I understood from his remarks. But if that is the case, I don't know where the leak we've been seeing on TV is actually coming from. I don't see how it could be the "oil left in the rise column" as he claims. It just doesn't seem like their would be enough.

[DeSwiss]

6. I think he's referring to.....

...the reports by many scientists that there are more than http://www.reuters.com/article/idUSTRE65L6IA20100622">1 million times the normal level of methane gas has been found in some regions near the Gulf of Mexico oil spill.

The results of which could:

Could Gulf Oil Leak Lead to Methane-Bubble Tsunami? BP Responds

Carl Franzen
June 21, 2010

It's not just the crude that is causing problems in the gulf oil spill: Another petroleum byproduct, natural gas, is reported to be leaking in much greater concentrations than previously thought. And not only could the gas be suffocating sea life, but a new analysis warns that a giant, 1,000-year-old methane bubble could soon explode, taking out miles and miles of the ocean floor and causing a violent oil spill tsunami that would threaten the entire gulf coastline.

http://www.politicsdaily.com/2010/06/21/could-gulf-oil-leak-lead-to-methane-bubble-tsunami-bp-responds/

[jimlup]

7. That is a potential global extinction event...

If that is true then shorting BP stock isn't going to help.