Thursday, June 17, 2010

Oil in the Gulf of Mexico

BP is screwed. They are in containment mode now. Go along to get along until the oil stops spewing that's when the tough negotiations begin. There will be abuse and misappropriation of the 20Bil no doubt. Frankly there always is. The people who need the help will be the ones short changed. That is my prediction.

In the meantime the Gulf coast is screwed. All this is stop gap measures. It's going to be cleanup, not containment that is in their future. That and endless litigation. Trial lawyers will get rich on this I'm sure.

Every time they turn around in DC they throw more people out of work. Is it going to end with everyone being on the govt payroll somehow. We make nothing except paper money that has nothing to prop it up, and is worth less and less each day.

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