Where the "Macondo" name for BP's doomed lease came from

I don't know if any of you are aware of where the name "Macondo", which BP chose for its oil lease in the gulf, came from.  I wasn't until yesterday and I find it chillingly bizarre.

Macondo, the name BP chose for the block 252 oil lease in the Gulf where the disaster occured was taken from the novel "One Hundred Years of Solitude" by Gabriel Garcia Marquez.  In the novel, Macondo was the name of a doomed city in a doomed region that crumbled amid abuse of power and technology gone bad, and featured a massacre.  What ultimately ended the city and region and their way of life was large-scale environmental devastation.