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Posted: Sat Feb 03, 2007 6:43 pm Post subject: [Video]Matt Simmons - "We have hit peak oil"
Energy investment banker Matt Simmons was interviewed on Bloomberg on February 1, 2007. He's the author of Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy" which examines Saudi Arabia's claims to have "plenty of oil" and a leading proponent of an imminent oil production peak.
That makes Simmons the second oil supply pundit to call peak oil. Professor of Geology Ken Deffeyes of Princeton said it on his website. The fact that a mild winter that suddenly gets a little cold is causing oil prices to rise by 20% is saying it too.
Last edited by admin on Mon Feb 19, 2007 1:38 am; edited 2 times in total
Joined: 01 Aug 2006 Posts: 1580 Location: The Netherlands votes: 25
Posted: Sun Feb 04, 2007 7:50 am Post subject: Re: [Video]Matt Simmons - "We have hit peak oil"
Yeayh, wish you had 4 hours but you wouldn't know what to ask if it weren't for others to write you a note on what to talk about dummy. Yeah, for a change, why DON"T you put on a show lasting 4 hours. Instead of treating peak oil like a elongated soundbite. _________________ Vaipen
Posted: Sun Feb 04, 2007 3:05 pm Post subject: Re: [Video]Matt Simmons - "We have hit peak oil"
Hey, I give Bloomberg credit for at least having him on to talk about this.
Baby steps, Vai. Maybe one day, when we're at 60% production, they'll actually say "Peak oil" on the news. _________________ Joe P.
"Only when the last tree is cut; only when the last river is polluted; only when the last fish is caught; only then will they realize that you cannot eat money." - Cree Indian Proverb
People have since the beginning of the last century, preached the end of the supply of oil. Yet time and time again, thier early claims of it's demise have fallen woefully in error to the way side.
There is little reason for me to beleive this time will be any different than last time... or the time before that.
Raugh.
People have since the beginning of the last century, preached the end of the supply of oil. Yet time and time again, thier early claims of it's demise have fallen woefully in error to the way side.
There is little reason for me to beleive this time will be any different than last time... or the time before that.
Raugh.
Well, that's just not true, Raugh. Peak oil is not about the end of the oil supply, it's about the peak of production and it's inevitable decline. In every oil field, every oil province and every oil producing country, production peaks, and then declines.
In 1956, a Shell geologist name Marion King Hubbert predicted that US oil production would peak sometime between1966 and 1971. It peaked in 1970. Since then, the oil production from the US has gone from 10 million barrels per day to about 5 million. Other countries have peaked also, most of them earlier than predicted, like Britain, Norway, Mexico, Indonesia, Syria, Egypt, Oman, Argentina... well you get the idea.
There's actually many good reasons to believe we may have already reached the world peak of oil production, least of which is the fact that oil is trading over $80/barrel right now. Your oil stocks got a nce kick up toady. I hope you have Apache or Ultra Petroleum, nice moves for both.
This trend will continue as long as the world economy keeps growing,until the high energy prices strangle the economy to death. Then the big question will be "Got food?". _________________ Joe P.
"Only when the last tree is cut; only when the last river is polluted; only when the last fish is caught; only then will they realize that you cannot eat money." - Cree Indian Proverb
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