Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Gib Bogle who wrote (73371)	5/6/2010 5:13:12 PM
From: Maurice Winn	2 Recommendations Read Replies (1) of 74559

I admit to playing Devil's advocate there, but from news reports and images, there really doesn't seem to be a big problem. People like to get hysterical. The Katrina disaster was serious, and this is down that way too, so people are mentally linking the two. But so far, the disaster was really the deaths and economic loss from the destruction of the platform. No big deal in the grand scheme of things. There is risk in doing things and this time, BP and the platform operator [and all the downstream customers who would have bought and benefited from the oil] drew the short straw. We could be safe and do no oil exploration. Ride bicycles and horses. Or spend a LOT of money on photovoltaics and cellulose harvesting, which will not be accident free and don't come cheap either. Mqurice

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