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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (571439)6/14/2010 3:13:18 PM
From: tejek   of 1577029
 
Simmons predicted prices would be at or above $100 within a few years. By 2008, when Fortune profiled Simmons, the price of crude had hit $147 a barrel.

And since then prices have come down again.

And they will go back up.

There's a lake at the bottom of the Gulf of Mexico that's over 100 miles wide and at least 400 to 500 feet deep of black oil.

Nonsense. 100 miles by 100 miles is almost 26 billion square meters. If that's 150 meters deep (just under 500 feet), it would be about 3.9 trillion cubic meters or around 24 and a half trillion barrels.

Lets assume "lake of...deep black oil" was an exaggeration that wasn't meant literally and that its really only one part per thousand oil with the other 999 being seawater. It would still be something like seven or eight years worth of production for Saudi Arabia (not a rig in Saudi, or a field, but the whole country).

Maybe one part per thousand was too much and his "deep black oil" somehow actually only means one part per hundred thousand. So no you would be taking about close to a quarter of a billion barrels. Assume that the broken well is spewing forth 100,000 barrels per day (which is rather unlikely), then it would have taken over six an a half years to spill that much oil (and that assumes all of it goes to this "lake", that none spreads out anywhere else, which of course is not happening.

I have no idea. This guy was once very respected.....lately, not as much.
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