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Matt Simmons Says Gulf Clean Up Will Cost Over $1 Trillion, Sees BP At $1, Says "We Have Now Killed The GoM"

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Wed, 07/21/2010 - 16:08 | 481672 IrishSamurai
IrishSamurai's picture

+911

Wed, 07/21/2010 - 16:11 | 481682 WaterWings
WaterWings's picture

Ah, yes. No visible oil. Everything is okay.

http://www.youtube.com/watch?v=1gsZYz0J1_E

Wed, 07/21/2010 - 16:20 | 481729 WaterWings
WaterWings's picture

From now on everybody junk up to say 16 or 17 because once the comment is gone we get a disjointed mess.

Wed, 07/21/2010 - 16:31 | 481771 Careless Whisper
Careless Whisper's picture

looks like mister simmons hasn't covered his shorts yet.

Wed, 07/21/2010 - 16:56 | 481858 WaterWings
WaterWings's picture

Damn it people!

Wed, 07/21/2010 - 17:43 | 481961 WaterWings
WaterWings's picture

Junkers late to the party or what? I'm saying that we shouldn't junk over 19 so we can see the comment and maintain thread integrity since Tyler doesn't allow infinite junks. It would be cool to see 56 junks, or whatever. Instead, POOF!

Wed, 07/21/2010 - 18:45 | 482105 dark pools of soros
dark pools of soros's picture

so we'll all have to junk the comments that pointed out the junked ones...  leave no trace...

Wed, 07/21/2010 - 20:51 | 482330 thesapein
thesapein's picture

But that defeats the whole purpose of having a junk option.

Thu, 07/22/2010 - 09:58 | 483312 WaterWings
WaterWings's picture

Group censorship. No better than HuffingtonGlue.

Thu, 07/22/2010 - 13:22 | 483893 thesapein
thesapein's picture

You want everything anybody says to be equally valid? Some ideas are like weeds. Some are fruitful. Who is to decide? We all do. Just for ourselves? Depends on how self centered we are.

Thu, 07/22/2010 - 16:54 | 484359 WaterWings
WaterWings's picture

I just don't like that they get disappeared and then thread gets screwy. Junk away - and I want to see the total junks - not just 19 then gone.

Wed, 07/21/2010 - 16:13 | 481691 HEHEHE
HEHEHE's picture

How do you know this?

Wed, 07/21/2010 - 16:18 | 481714 jkruffin
jkruffin's picture

Wonder how hard it would be to find out who is long BP?  LOL

Wed, 07/21/2010 - 16:48 | 481836 dark pools of soros
dark pools of soros's picture

most likely all pensions will be forced to buy BP hand over fist...

Wed, 07/21/2010 - 16:19 | 481717 Ragnarok
Ragnarok's picture

From a drilling/mineral stand point, a lot of what he just said makes absolutly no sense.  However I do believe the oil is still leaking.

 

 

Wed, 07/21/2010 - 16:25 | 481749 HEHEHE
HEHEHE's picture

Explain how it does not make sense? 

Wed, 07/21/2010 - 16:36 | 481780 Ragnarok
Ragnarok's picture

If they had already tripped the pipe and had run casing for that section of the well and were cementing at the time of the blow out, then why would there be a drill bit (drill bits are attached to drill pipe not casing) in the well that supposedly destroyed the BOPs shear rams on the way out?

 

Secondly, how could presure build up from condnesate, which is a stable mineral at those pressures, inside a riser which is torn to shreds? If any of the condensate turned to gas it would simply bubble to the surface.  Remeber the gas was turning to condensate when it hit the sea water and cooled, clogging the top hats.

Wed, 07/21/2010 - 16:41 | 481810 truont
truont's picture

Consider this:  The 6-inch diameter riser pipe could not possibly expel the amount of oil estimated to be in the Gulf of Mexico.  Therefore, there must be another leak...

 

http://www.youtube.com/watch?v=Txb5ufjqQqs&feature=player_embedded

Dylan Ratigan Show, MSNBC, July 15, 2010:

BP claims oil is no longer flowing into the Gulf.

That supposes of course that the only hole in the ground is the 6-inch diameter hole that you see there capped.

Matt Simmons argues you can’t spill 300 to 400 million gallons of oil into the Gulf of Mexico out of a 6-inch wide pipe.

Not to mention explode a 5 story building which is how big a bop is and not end up with more than a small hole.

Wed, 07/21/2010 - 16:53 | 481850 Ragnarok
Ragnarok's picture

There is so much misinformation out there.

 

The riser is what carries the drilling fluid and cuttings to the surface from the TOP of the well bore and was certainly not 6 inches, try more like 20 or 30 something for a well that deep.  A well is drilled in several sections each with a progressively smaller diameter (think telescope). After a section is drilled the pipe must be tripped (taken out of the hole) and casing run down the hole, then cemented before the next section can be drilled or before production completion can be performed.  It was during one of the cement jobs at depth when the had a blow out (cement didn't set properly, time or composition could have been factors). 

Wed, 07/21/2010 - 18:07 | 482021 Augustus
Augustus's picture

The BOP did not explode.  It is right where is is supposed to be.  It was leaking, but that is certainly not what Simmons is implying.

Wed, 07/21/2010 - 22:31 | 482582 Augustus
Augustus's picture

the hole is filled with mud.  They trip the drill pipe out of the hole to run the casing.  Casing is open on the bottom and fills with the mud, surrounded by the mud.  Pump the cement job down the inside of the casing, through the shoe / hole in the bottom, up the back side of the casing.  Wait on Cement,   Test Cement.  Now they run the drill pipe back into the hole to the point where they want to start the seawater displacement.  they pump the seawater beginning at 8,000 ft, 3000 ft below mudline.  When the seawater goes in, the mud comes out of the casing from that point up to the top.  Displacing the mud lowers the weight and the well blows.  There is still the drill string in the casing, through the riser, BOP and wellhead, when the well blows and the BOP is shut.  Drill pipe is in about 30' sections that are screwed together.  those joining points are thicker to compensate for the threads and the weakness they may cause.  It could be that there was a thicker coupling in the BOP.  Or it could be that there was some casing moved up the hole a few feet that is also in the BOP.

Wed, 07/21/2010 - 16:22 | 481738 ToNYC
ToNYC's picture

Noah Vail street cred zero; Matt Simmons large and in charge.

Wed, 07/21/2010 - 16:59 | 481869 dark pools of soros
dark pools of soros's picture

indeed

Wed, 07/21/2010 - 16:37 | 481790 flagg707
flagg707's picture

@Noah:  Well, I think "full of shit" is a bit overdone.  He said from day one that this was a major leak, when BP and the Coast Guard were saying it was only 1,000 barrels and day, then only 5,000 barrels a day.  He was right, they were not giving accurate information.

Simmons said that the casing was ejected up the bore hole.  BP said that was impossible.  Then gamma ray imaging done at the insistence of the US Government showed a section of casing that had been ejected.  He was right, BP was not giving accurate information.

Maybe he is wrong about the particulars or the magnitude of this supposed "oil lake" and I hope he is.  But his track record is better than BP's so far.

(edited to fix a typo)

Wed, 07/21/2010 - 18:09 | 482028 Augustus
Augustus's picture

No.  His record is NOT better than BP's.

Flow rate from simmons?

Well pressures from Simmons?

Well location from Simmons?

Those are pretty major and he is not even on the same planet.

Wed, 07/21/2010 - 18:54 | 482124 Jim_Rockford
Jim_Rockford's picture

And don't forget GOM depth!  23,000ft according to Simmons.

Wed, 07/21/2010 - 21:27 | 482390 e_goldstein
e_goldstein's picture

well, Simmons hasn't:

1) helped overthrow a legitimately elected government

2) committed genocide

3) caused a possible life ending event in the Gulf of Oil.

so, yeah, I'd have to say that Simmons record is better than BP's. 

Wed, 07/21/2010 - 21:51 | 482459 Cammy Le Flage
Cammy Le Flage's picture

How do we know he has not done this?  That is all Big Oil does frankly? 

Wed, 07/21/2010 - 16:44 | 481824 First There Is ...
First There Is A Mountain's picture

So there ain't no oil on your beach, Archie?? I guess that means there was no disaster either? Problem solved <dusts hands>.

But just in case we weren't all imagining startling footage of pelicans suffocating under a viscous coat of Quaker State, can you tell us exactly what did happen? Think millions of gallons of Correxit sprayed liberally into the gusher may have done something to conceal the true nature of this disaster, er, small environmental hiccup? Kinda like Vietnam was just a police action.

Wed, 07/21/2010 - 20:41 | 482314 Inspector Asset
Inspector Asset's picture

I suppose the clean up company plans to book a trillion is sales.

Who could be the clean up company. Oh, that would be Halburton.

Where would this country be without Halburton.

God bless Halburton

Wed, 07/21/2010 - 21:14 | 482369 FEDbuster
FEDbuster's picture

and Kevin Costner's miricle machine that will spin the oil from the water faster than BP and the WH can spin their lies.

Wed, 07/21/2010 - 16:12 | 481686 Boilermaker
Boilermaker's picture

Great, put a drop of poison in a pitcher of ice tea and drink up.

Wed, 07/21/2010 - 16:58 | 481865 thesapein
thesapein's picture

+1 for kill'n it!

Wed, 07/21/2010 - 16:19 | 481715 aheady
aheady's picture

Shillicious!

Wed, 07/21/2010 - 17:00 | 481719 Cognitive Dissonance
Cognitive Dissonance's picture

Would you care to share your estimate? I'm curious how you would come to this conclusion. Just some basic numbers is all I'm asking for. Thanks.

edit: Looks like Noah will disappear from junks pretty soon so I'm adding his post below so people will understand what we were responding to.

by Noah Vail
on Wed, 07/21/2010 - 16:16
#481702

 

denari, you are exactly right. Plus, they have captured most of the leaked oil. But, as you can see, there are a lot oil haters out there who WANT to believe that this is a catastrophe when it isn't. I've run an estimate and based on what they've spent so far, this will not cost BP more than $20 billion and probably more like $15.

  • flag as junk (13) 
  • Wed, 07/21/2010 - 17:02 | 481871 dark pools of soros
    dark pools of soros's picture

    his estimate shows BP paying for clean up with their own dying shares...  so yes.. $20.. then $15...  it is a moving number.. 

    Wed, 07/21/2010 - 19:23 | 482167 YourAverageDebtSlave
    YourAverageDebtSlave's picture

    I  was reading the  comments on the dollar estimates and was wondering how much oil are we talking about.  While I can't comment on the dollars, it was helpful for me to get an idea of how much oil we were talking about so here it goes (I did the computations in Word and Excel so I'm not sure why the weird coding langauge before my numbers):

    NY Times on June 10th had experts estimating 25k-30k of oil spewing a day.  I haven’t followed closely so I’ll use the June 10th figure to see how much has spilled.  Blast happened on April 20th.   That’s 50 days between the two dates.  From the experts estimates that’s anywhere between 1.25 million to 1.5 million barrels.  According to EIA.gov there’s 42 gallons of oil in a barrel. We all know what a gallon of milk looks like.  So that’s anywhere from 52.5 million to 63million gallons of oil according to experts or 1.26 million gallons a day.  And I’m sure my June 10th date is inaccurate. According to the EPA and Encyclopedia Britannica there are 643 quadrillion gallons of water in the Gulf.  This oil by my lowballed estimates is 000000008% of the Gulf's total volume.  Now is that over $20 billion dollars worth of damages.  I have no idea, but shit...that's a lot of gallons of oil.  But then again the Gulf is a lot more of gallons of water.

    Wed, 07/21/2010 - 19:52 | 482220 SRV - ES339
    SRV - ES339's picture

    CD... shame on you for finding such a sleazy way around the rules.

    So, you are a Goldman mole after all... lol!!!!!

    Wed, 07/21/2010 - 16:20 | 481727 jeb3
    jeb3's picture

    Hahahahahahaha.  You're a funny guy, you

    Wed, 07/21/2010 - 16:27 | 481761 HEHEHE
    HEHEHE's picture

    Actually that is not the case.  They've used a dispersant to try and make the oil soluble with the sea-water.   Essentially they are conducting a science experiment in the Gulf of Mexico.

    Wed, 07/21/2010 - 16:34 | 481782 Boilermaker
    Boilermaker's picture

    I believe the contention is that the vast majority of the spill is actually below the surface.

    Wed, 07/21/2010 - 17:05 | 481872 thesapein
    thesapein's picture

    edit: nm, wrong post, lost track, sorry.

    Wed, 07/21/2010 - 18:12 | 482033 Augustus
    Augustus's picture

    The vast majority of the spill that was not methane has evaporated.

    Wed, 07/21/2010 - 21:44 | 482431 Chump
    Chump's picture

    It has to get to the surface to evaporate.

    http://summitcountyvoice.com/2010/06/21/noaa-ships-tracking-deep-underwa...

    http://summitcountyvoice.com/2010/06/23/feds-confirm-underwater-oil-plum...

    NOAA wasted a bunch of money and then lied all over the place, apparently.

    Wed, 07/21/2010 - 17:01 | 481870 thesapein
    thesapein's picture

    Yeah, never got that. There was never a good reason, and lots of reasons to want to gather it all up. Can we get the chemical that can pull it all back together so we can clean this mess up?

    Wed, 07/21/2010 - 16:33 | 481776 Dapper Dan
    Dapper Dan's picture

    Please define "most" as in "they captured most of the oil".

    Thanks dapper.

    Wed, 07/21/2010 - 16:38 | 481798 flagg707
    flagg707's picture

    Captured "most" of the oil?  Are you high?  Please provide data to back up that assertion.

    Wed, 07/21/2010 - 19:28 | 482181 YourAverageDebtSlave
    YourAverageDebtSlave's picture

    I wanna smoke whatever he's got.  See my comment above.  Anywhere between 1.25 million to 1.5 million barrels had hit the Gulf as of June 10th according to experts estimates.  http://www.nytimes.com/2010/06/11/us/11spill.html

    BP came out 2 weeks later stating they had captured 348k (and knowing BP's numbers probably more like 200k).  http://www.nytimes.com/interactive/2010/06/24/us/20100624-cap-chart.html...

    Unless something has magically happened in the last 30 days, I don't see how his assertion has any merit.

    Thu, 07/22/2010 - 00:09 | 482823 Temporalist
    Temporalist's picture

    I'm not your buddy guy.

    Wed, 07/21/2010 - 16:49 | 481838 First There Is ...
    First There Is A Mountain's picture

    Remind us again which Big Oil Corp pays you to troll this board??

    Do NOT follow this link or you will be banned from the site!