He wasn't satisfied screwing up mankind with a busted operating system and forcing our hands in using it, now he wants to "Play God" with the gulf of Mexico?
I say the hell with it, let him try, but only because I think it will all be nothing more than a complete waste of time and money. There won't be enough effect to have any positive effects, so the negative is likely to be minimal too. Besides, he needs to put some of that blood money back into society somehow; why not waste it on a pointless project such as this?
Now to point out the fatal flaws (as I see them, at least) with the project itself:
Everything in physics is working against this - Convection being the biggest player. I see how they intend to 'force' the water down, but I can't see it happening to any appreciable (more accurately useful) amount. The idea is that the waves ride higher than mean level, breaking the levee of the tub, and providing a column of water that can exert pressure on the tub's "drain", forcing it down. Problem with this is, there's an insane amount of pressure at the bottom of the ocean. Add this to the fact that the water at the bottom is colder and more dense, and it's going to win the fight, and isn't going to be persuaded to leave the tube by the warmer water above it.
Second, why would you need a tube to bring the cold water back to the surface. Again, physics would do this for you. Even if you could force the warm water down hard enough, you're displacing the water at the bottom, and so it has nowhere else to go but toward the surface.
Third, how many of these things (not to mention how big they would each have to be) would it take to actually put the smallest ding in the surface temp? I like one of the comments someone made in the post - something to the effect of "it's like expecting a dime size hole in the ground to prevent someone from walking past it."
Fourth, Gates is an idiot technologically anyway. An excellent BS artist, salesman, and marketeer he may be, but technology and Gates should never be in the same sentence, unless he is being discredited by said sentence.
Ideas like this are a dime a dozen - How many have each of us come up with back in the days of choking on a bong? Most of us grew out of it, and subsequently realized just how flawed those ideas actually were. The big difference here is, this one got published. Why? Because it's Gates, and I'm sure he got "under the desk" somewhere to have his idea heard - it undoubtedly worked!
Someone once said, "In a world without fences, who needs Gates?"
Don't even GET ME started... LOL
Steve