In recent months, Simmons became even more controversial. Correctly, he estimated that BP spillage in the Gulf of Mexico was many times what the company had first claimed and was almost spot on. But he also said that BP would be forced into bankruptcy and that a nuclear device was the only way to stop the leak. BP responded by ending its relationship with Simmons' bank. And Simmons ended his lingering involvement with it, as well.
Simmons was a perfect storm of a man, raging against the myths and self-satisfaction of the oil industry. In his absence, there will be a certain quietude in the petroleum clubs of Houston, Denver and Edmonton, Canada and elsewhere.
But in their hearts, they fear he was right.
Simmons was a perfect storm of a man, raging against the myths and self-satisfaction of the oil industry. In his absence, there will be a certain quietude in the petroleum clubs of Houston, Denver and Edmonton, Canada and elsewhere.
But in their hearts, they fear he was right.
Source: http://oilprice.com/Energy/Crude-Oil/They-Died-Before-the-Oil-Ran-Out.html
By. Llewellyn King for Oilprice.com who offer detailed analysis on Oil, alternative Energy, Commodities, Finance and Geopolitics. They also provide free Geopolitical intelligence to help investors gain a greater understanding of world events and the impact they have on certain regions and sectors. Visit: http://www.oilprice.com
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