Matt Simmons, interviewed on King World News, has a lot to say on BP and the Gulf oil spill. Simmons is the founder and chairman of the board of the Ocean Energy Institute and former chairman emeritus of Simmons & Company International. He was past chairman of the National Ocean Industries Association, and served as energy adviser to President George W. Bush. Simmons is the author of the book Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy.
Simmons says that the cap that supposedly has completely sealed the freeflowing oil is simply PR. It's not the gusher itself, he says, which in any case can't be fixed other than with a small nuclear bomb because the casing is completely gone. He says the danger with the nuclear bomb is zero, but some are wondering what happens to the massive amount of methane in the area when the bomb goes off.
Matt has never shorted a stock in his life, he says, but he's shorted BP. Shorting a stock means the transaction shows a profit if the price goes down. The more it goes down, the more profitable it is, with a transaction finalized at zero being the maximum profit.
Matt says, " . . .I started reading all the reports about how many corners they had cut [before the Deepwater Horizon accident], and how many times they'd been warned by the Transocean people, that 'You're going to kill people.' So obviously when the blowup happened, they couldn't 'fess up because they'd all go to jail."
"They've [BP] killed the Gulf of Mexico. And they lied about it."
"They conned everybody, including the government, into thinking this was no big deal."
"The perjury that's going on has just been astonishing."
"Research vessels of NOAA, particularly the Thomas Jefferson, have found that the basement of the Gulf of Mexico, about 4,000-4,500 feet under the surface, is a giant lake of toxic oil that's expanding by 120,000 barrels a day coming out of the open well bore where there is no more casing, there's no more blowout and basically that lake might be now 4 - 4500 feet deep and all of it's toxic."
"Now [because of BP's negligence in meeting the challenge right away] we have a poisonous lake that there's no way to clean up and there's no way to prevent it from coming on shore if we have a hurricane."
"They [strong hurricanes] bring up the cold water from the ocean. This stuff won't be cold water. It'll be poison."
"It's [methane from the oil spill] basically one the most lethal gases we know about."
"It [a Gulf area hurricane] could be one of the greatest losses of life we've certainly ever had from a natural non-war disaster."
"If it were my family I would evacuate now, while you still have time."
Listen to the interview . . .