Posted on 05/03/2010 12:14:06 PM PDT by OldDeckHand
The massive oil slick threatening the Gulf of Mexico's coastline could wreck the US economy's fragile recovery and lead to a "double-dip" recession, an investment firm warned Monday.
A market commentary from Cumberland Advisors said the bill from the Deepwater Horizon disaster may ultimately run into hundreds of billions of dollars and leave an economic impact that will be felt for a generation.
Cumberland chief investment officer David Kotok said in a commentary titled "Oil Slickonomics" that the spill had left three likely scenarios for the future: "bad, worse, and ugliest."
Under the worst case scenario, it would take months to plug the ruptured well spewing an estimated 210,000 gallons of oil into the sea every day, Kotok said, leaving a clean-up operation which would take a decade to complete.
(Excerpt) Read more at breitbart.com ...
Wasn't it going to take 10 years to put out all the oilwell fires in Kuwait?
tax the oil spill?
Great job you’re doing Bami.
Our fishermen are in imminent danger of losing their Boats because they can't fish to get the money to pay for them and their slip fees. Their source of income is gone for a long, long time.
We, as Americans, have to do something to help these people. They are our people.
I was thinking the exact same thing.
Now that’s what I call turning chicken sh!+ into chicken feed- another ready made excuse for the RATs. Seems like they could spin this into supporting Cap & Trade as well. It’s like they planned it.
So when’s the fund-raiser?
Yeah and the ash cloud from that volcano two weeks ago was supposed to cripple the world economy for ten years too. They must have a class in J-School now called Basic Uses of Hysteria.
We’ll see.
Indeed. I too call “disinformation” on this article. Without even really paying attention to the news on this, I see a lot of information saying that BP is on the hook for the bill, including whatever Federal and State resources are put to use. If it gets to the point where BP is bankrupted and it’s still not fixed, that’s another matter — but as of now that can’t be the basis for this kind of article.
Now the Kenyan and his government media can blame a recollapsing economy on those damned capitalists, the oil companies.
Oh good. Obama now has some other excuse to use in defending his FAILURES.
Obama inherited oil drilling. Those environment wrecking oil wells were put there by the wealthy whites long before the One can to bless us all.
The racist whites, that’s all whites that don’t support Obama, deliberately allowed the oil to flow into the ocean, so close to NO, because they hate the blacks and what to put them all out of work.
From “day one” Obama has been a failure... why would there be any change?
But as to the real damage, sea water eats oil, so we will have to see. There are some dead turtles and fish showing on shores.
They need to blame this
On some external trigger,
And not Obama...
The effect will be regional, not universal like what the Banks were pulling.
I suspect its going to trigger both global warming and an ice age.....at the same time.
I believe the oil people are hiring them since they know the seas.
Oil Slick in Gulf Unexpectedly Causes Unemployments to Rise this Month
The moststupid thing that could come out of this is if the Giovernment uses this to stop drilling for oil offshore and close down oil drilling onshore.
Ya know what. That is exactly what I predict will happen.
Obama will use this to force Americans energy prices up into the rafters.
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