The Good News About the Gulf Oil Disaster

What’s all this BS about the oil spill, asked Marcio Rocha Mello yesterday.

“There are thousands of oil wells in the Gulf. They drill a thousand per year. They have one accident and the press makes a big deal of it.

“But oil spills are not very harmful. In fact, they’re good things. There are natural oil leaks all the time… Millions of gallons leak into the oceans, a thousand times more than from the Macando well. But oil is a natural thing too. Bacteria work on the oil. They convert it to forms of plankton, which are the base of the maritime food chain.

“One thing you can be sure of, the oil price will rise. Oil production is going down. Demand is going up. It is a mathematical certainty that the price will rise. We will never, ever see oil in the $70- $80 price range again. Never.”

Regards,

Bill Bonner
for Markets and Money

Bill Bonner

Bill Bonner

Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America’s most respected authorities. Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance. Since 1999, Bill has been a daily contributor and the driving force behind Markets and Money.
Bill Bonner

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In that much amount of oil spill couldn’t be natural… Gulf oil spill is indeed a disaster of a history…

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