Matt Simmons Says Gulf Clean Up will Cost over $1 Trillion

Posted: July 21, 2010 in Current Events, Oil Spill

With the way this oil spill disaster has been handled from the beginning by BP and the government you must assume they are hiding information.  Matt Simmons is an expert in the field.  Not one person from  BP or the government is challenging Matt on any of his suspicions about the spill.  Matt believes ultimately the stock is worth $1 and this clean up will cost over $1 Trillion.  In his opinion the problem is the gusher on the ocean floor which is spewing 120,000 barrels of toxic oil a day into the Gulf.  I hope Matt is wrong.  Unfortunately with this being hurricane season we may find out soon.  Here is Matt on Bloomberg.

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