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Gulf clean up could cost over $1 trillion... and send BP's stock to $1
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Thursday, July 22, 2010
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From Zero Hedge:

Matt Simmons shares some startling revelations in his latest Bloomberg TV interview, in which he says none of the propaganda matters on TV 24/7 (photoshopped or not) as the ultimate clean up cost will likely be well over $1 trillion. As a result, he is unconcerned about his BP short. He ultimately sees the stock going down to $1.

What Simmons alleges, however, is far more startling and audacious: This is a joint cover up effort between the administration and BP, in which both entities...

Read full article (with video)...

More from Matt Simmons:

Oil industry insider: BP will not survive the summer

Controversial oil man Simmons: Gulf spill much larger than we think

Oil guru Simmons: Oil is now covering 40% of the entire Gulf of Mexico

Topics: Energy | Commodities | Cruxallaneous
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