P!
I would expect the same thing with a natural horde of undersea gold.
This is one of the many reasons why asteroid mining is so silly.
Goldbug Ping.
Just so it is too deep for a reality show.
Actually, there are likely few if any serious mineral deposits in the ocean floor, other than manganese nodules.
The reason is that mineral deposits are caused by hot or cold water percolating up or down through rock. It dissolves trace amounts of the type of minerals that particular action will dissolve, then concentrates the mineral where different kinds of rock meet.
This is why you see veins of minerals in rock strata.
And you know what tone will prevail when the first comment about the article starts with:
“Oh great, it’s not enough for us to screw up the Earth’s land & air, now we’ve got to exploit the ocean too in the name of greed for precious metals, etc. If the ocean dies eventually everything will die ...”
What a target rich environment. Too bad for-profit work takes a priority. Gotta build some savings before going Gault.
Maybe if enough sea floor mining occurs someone will find owebama’s birth certificate...
This must be blocked immediately. Everyone knows that every human attempt to exploit earth’s resources results in disaster.
http://www.youtube.com/watch?v=ELDVjutzan8
Just terrific! I HAVE to side with the EnviroWeenies on this one! I don’t WANT more gold available; less gold in the chute makes mine all the more valuable.
I hate it when stuff like this happens... ;)
Any amount of gold can support a gold standard, the paper money price would simply have to reflect the value of gold. You’d need a hell of a lot of gold to get to $35 an ounce.