Matt Simmons: Second Gulf Leak is Huge. Obama may need nukes.

[swag]

From Barry Ritholtz:

http://www.ritholtz.com/blog/2010/05/senasational-claims-by-matt-simmons-about-the-bp-leak/

Matt Simmons gained fame with his book 2005 Twilight in the Desert where he claimed that the Saudis were overstating their oil output because they hit “peak oil.” Right or wrong Simmons claimed the price of oil was going to skyrocket and three years after the book’s release the crude oil hit $147/Barrel.

In January 2009 the WSJ called Simmons one of the five most important voices in the oil industry.

Simmons has been wrong in the past and his views are non-conventional and often correct. Simmons is also highly connected within the oil industry so he knows who to talk to verify his claims.

I have no idea if Simmons is right or wrong but his latest claims, laid out in a Bloomberg TV interview Friday (May 28) appear to be nothing short of sensational.

Matt Simmons says “Top Kill” is a sideshow, misses the big problem of a second leak 5 to 7 miles away releasing up to 120,000 barrels/day. Simmons goes on to say we might need nukes to seal the leak.

. . . more

http://www.ritholtz.com/blog/2010/05/senasational-claims-by-matt-simmons-about-the-bp-leak/