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Deepwater Economics

24 Jun 2010

On May 2 the investment advisory firm Cumberland commented on the Deepwater Horizon oil spill

Three scenarios lie ahead. They rank as bad, worse, and ugliest (the latter being catastrophic and unprecedented). There is no “good” here.

One and a half month later, the oil is still spewing into the ocean and at a much higher rate than previously thought. Up from 600.000 liters to 7-10 million liters every day. That’s 1/3 of Denmark’s daily oil consumption! and Exxon-Valdez every four days

There’s more on popularlogistics.

UPDATE: 60 Minutes recently did a report on a trial in Ecuador against Chevron, claiming they dumped 68 billion liters of toxic oil waste in the Ecuador rainforest. In Nigeria, it’s not news either. I still shocks me to see the extent to which we have no respect for human life and the environment. Our way of life turns us all into horrible parasites.