The Oily Black Swan

Sunday, July 04, 2010

Photo by cloppy
The picture above sums up the USA's biggest problem that may as well be the catalyst for the complete destruction of coastal living in the south and way beyond. The undoubtedly biggest man-made environmental disaster will soon turn into an international catastrophe when the gushing crude oil from the BP leak will not only poison US shores but will be carried by the gulf stream to Europe, endangering the global ecological system as the thermal image below shows.

It may take well longer than a year, but the gulf current will carry the oil spill to Cuba and Europe with incalculable consequences.
In order to give everybody an idea about the severity of this disaster please take the time to watch the 2 video clips from Australia's "60 Minutes" TV show. These 14 minutes may change your perception about the oil spill, at least this is what happened to this blogger.

Do you think $20 billion will be anywhere near enough to clean up hundreds of miles of polluted shorelines? I highly doubt it.

The next CNN video may simply make you ireful as it shows that the USA and BP do not really appear to be interested in trying to contain this giga-disaster. It is now a felony to record the mess with its potentially adverse health effects.

Recalling recent news that the workers involved in the Exxon Valdez catastrophe have all died since there is no way that BP's $20 billion fund will be enough to cover all related expenses.
Just think of
  • beach property that may devalue to zero;
  • the hospitality industry: Gulf crabs or a walk on the toxic beaches for you?
  • the fishing industry;
  • all recreational activities like boating or simply going to the beach.
BP's most recent statements talk about a containment by August. Given the fact that the US government has not found a decision to let in foreign vessels to aid and assist in this disaster after more than 10 weeks it has to be doubted that the Obama administration has yet recognized the magnitude of this event that may lead to further international isolation of a hegemonic nation that defines its allies by the numbers of barrels of oil still in the ground.
I am sorry and most worried to say that the USA and BP have created a situation that will lead to a stress test of US-European relations once the oily goo shows up on Europe's beaches and shores. Who will pay for this foreseeable catastrophe extending to Europe?


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