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Post-BP Gulf

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Once BP becomes bankrupt, in less than a year, 40% of the world's known oil reserves go on the market (twice the oil reserves of Saudi Arabia -- about 500 billion barrels -- over $35 trillion worth) as part of its liquidation. No bank, government, or conglomeration of either have that much cash or real assets to make that purchase. Our government has bankrupted itself covering the gambling debts from derivatives trading of financial institutions deemed too big to fail. They were much smaller than BP with no real assets in the first place! The taxpayer got stuck with the bill, too big to pay so we mortgaged our grandchildren to the beast of burden.

If, as I expect, the well will still be spewing death in a year's time, very little remaining wealth will be available to pay for damages here at home. BP will have bankrupted the US too. It will have done what no enemy, domestic or foreign has ever done: Destroy America.

What will this mean to us as citizens? Will our currency have value? Will it become a world unthinkable just a decade ago when George Bush was just a Republican nominee? Will politics matter anymore? To anyone?

This is purely hypothetical, but I raise the question here:

What if this series of events comes true?

 

Designed first all-solar home for Ryland Homes in 1974. At MITRE, led a group of 35 of the best minds in the world (including Dr. Edward Teller, among others) who performed detailed engineering, scientific, socio-economic, and political analyses of (more...)
 

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If BP goes BR, will the gulf still get that 20 bil... by Jay Farrington on Saturday, Jun 26, 2010 at 6:15:27 PM
Could the US seize BP and keep control of its asse... by Jay Farrington on Saturday, Jun 26, 2010 at 6:20:18 PM
I'm not sure this is possible since BP is a foreig... by Taylor on Monday, Jun 28, 2010 at 12:22:45 PM
...about international borders. As long as there i... by Paul from Potomac on Monday, Jun 28, 2010 at 2:33:47 PM
I don't know. In this scenario, BP is bankrupted b... by Paul from Potomac on Saturday, Jun 26, 2010 at 10:20:42 PM
As I understand it, only 3-5 billion dollars will ... by Taylor on Sunday, Jun 27, 2010 at 6:14:47 PM
What do YOU think?... by Paul from Potomac on Sunday, Jun 27, 2010 at 8:57:16 PM
I was hoping someone would refute what I wrote, bu... by Taylor on Monday, Jun 28, 2010 at 10:37:53 AM
POPULATION CONTROL THE ELITES... by MARGARET BASET on Sunday, Jun 27, 2010 at 1:48:57 AM
http://www.sfgate.com/cgi-bin/blogs/ybenjamin/deta... by MARGARET BASET on Sunday, Jun 27, 2010 at 2:04:21 AM
Margaret,BP gave the EPA two choices for dispersan... by Paul from Potomac on Sunday, Jun 27, 2010 at 7:39:49 AM
SO IT LOOKLIKE BY NEXT YEAR WE EVACUATE FLORIDA, O... by MARGARET BASET on Sunday, Jun 27, 2010 at 9:07:55 AM
order them to change or cease using dispersants. H... by Jay Farrington on Sunday, Jun 27, 2010 at 9:54:54 AM
There is just fear and confusion at the WH. He's g... by Paul from Potomac on Sunday, Jun 27, 2010 at 10:27:10 AM
Obama is allowing these disperants because that is... by Taylor on Sunday, Jun 27, 2010 at 6:34:50 PM
...that we need to discuss:War: Why are we fightin... by Paul from Potomac on Sunday, Jun 27, 2010 at 8:44:21 PM
We now have T.S Alex expected to become a hurrican... by Taylor on Monday, Jun 28, 2010 at 10:52:28 AM
Use of BP's Conexit must be stopped immediately, a... by Paul from Potomac on Sunday, Jun 27, 2010 at 9:05:46 AM
'I love the smell of napalm in the morning. You kn... by Ned Lud on Sunday, Jun 27, 2010 at 9:32:38 AM
The Bakken shale gas and oil in North Dakota will ... by Margo on Sunday, Jun 27, 2010 at 11:24:10 AM
Water is one of the most precious resources in the... by Paul from Potomac on Sunday, Jun 27, 2010 at 11:43:28 AM
I am not being facetious. The US has military base... by Taylor on Sunday, Jun 27, 2010 at 6:58:35 PM
If this horrendous MANMADE Eco-catastrophe isn't t... by Bia Winter on Monday, Jun 28, 2010 at 11:25:03 AM
I don't think that Obama intends to actually do mu... by Taylor on Monday, Jun 28, 2010 at 12:12:25 PM