Mind Blowing Interview by Matt Simmons on Gulf Oil Spill

Posted: July 17, 2010 in Oil Spill, Ongoing Criminal Activity

Eric King from King World News had a stunning interview with Matt Simmons on the BP oil spill.  The interview can be found at the end of the post.  For those of you that are not familiar with Matt Simmons here is a biography from www.oceanenergy.org below:

Biography from oceanenergy.org

Matthew R. Simmons -Founder, Ocean Energy Institute & OEI Board Member

Matthew Simmons is the founder and Chairman of the Board of the Ocean Energy Institute. He was past Chairman of the National Ocean Industries Association, and served as energy adviser to President George W. Bush, among others. Simmons is author of the book Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, which examines oil reserve decline rates to help raise awareness of the unreliability of Middle East oil reserves.

Background

The Ocean Energy Institute, founded in 2007 by Matthew R. Simmons, is a think-tank and venture capital fund addressing the challenges of U.S. offshore renewable energy. OEI approaches energy R&D and investment from a systems point of view; not just generation, but usage, storage and transmission all together as an interdependent set of opportunities and the next driving force of the international economy.

Mission

OEI is working to coordinate the diverse factors that will help make ocean energy a reality: energy system architecture, offshore wind technology, environmental interests, stakeholder concerns, industrial partners, academic research, financial firepower and political factors.

Here is a biography from www.simmonsco-intl.com on Matt Simmons

Matthew R. Simmons graduated cum laude from the University of Utah and received a Masters degree with distinction in Business Administration from Harvard Business School. He then served on the faculty as a research associate for two years. In 1974, he founded Simmons & Company International. Simmons serves on the Board of Deans Advisors of Harvard Business School and is past President of the Harvard Business School Alumni Association. He also serves on the Board of Directors of Houston Technology Center and the Center for Houston’s Future. Simmons serves on The University of Texas’ M.D. Anderson Cancer Center Foundation Board of Visitors (Houston) and is a Trustee of the Bermuda Institute for Ocean Sciences. He is a member of the National Petroleum Council, Council on Foreign Relations and The Atlantic Council of the United States. In addition, he is past Chairman of the National Ocean Industry Association. Mr. Simmons is a Trustee of the National Trust for Historic Preservation and the Farnsworth Art Museum in Maine.

It should be clear Matt Simmons is an expert in the field.  Some points from the interview include the following according to Matt Simmons:

  1. The leak we have seen is not the “gusher”.  The gusher can be described as an opening on the sea floor where 120,000 barrels of toxic oil are flowing into the gulf every day.
  2. The toxic sludge at the bottom of the ocean could be 300 to 400 feet deep.  What you see on the surface is not the main problem
  3. The cleanup could cost $1 trillion dollars and BP stock is maybe worth $.25.  That is not a typo!  For those long BP stock please do not ignore this post because you do not want to hear your stock going from $37 to $.25.  This interview is too important to ignore.
  4. Methane gas could be a severe problem.  Matt believes we should assume when a major storm hits the gulf region there will be a vast amount of methane gas washed on shore and many will die.
  5. Matt Simmons believes parts of the Gulf should be evacuated.  In his opinion we should not wait until the last-minute.  An evacuation of this size could take weeks.

 Many other points were discussed in this mind-blowing interview.  Listen here for the full interview.

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