Matt Simmons (Bloomberg): Peak Oil Now, Oil Perhaps to $300

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Matt Simmons (Bloomberg): Peak Oil Now, Oil Perhaps to $300

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Matthew Simmons, chairman of Simmons & Co. International in Houston, talked yesterday with Bloomberg's Rhonda Schaffler about the need to address energy use, his view that global supply has peaked and the likelihood oil prices could reach as much as $300 a barrel. (Source: Bloomberg)

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T. Boone Pickens: we peaked last year, globally	Peak Oil Theory Peaked?	The Middle East, & The Impending Oil Crisis

T. Boone Pickens: we peaked last year, globally	Peak Oil Theory Peaked?	The Middle East, & The Impending Oil Crisis

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This guy is ... ( 10 months ago by ZeketheSwede)

This guy is virtually correct. But was he right on the Saudi oil production? It has actually started to increase again lately. He predicted that the peak was imminent there too.

You might not have ... ( 10 months ago by Meowbay)

You might not have a car, but your food, your internet-router, your shirts, yoru shoes, it's ALL depending on oil.

The scariest thing ... ( 10 months ago by newculture)

The scariest thing about this is that Simmons is downplaying the issue. When equating the energy in oil to human muscle energy or labor, a GALLON of oil is worth over $1,000.
I understand why he is just going with the numbers that people throw out though. Most people probably imagine $1,000 per gallon to be beyond possibility and even ludicrous. And yet, it is the truth, just do the math.

should have ... ( 10 months ago by edwinthomasr)

should have listened to carter....'malease' is nothing compared to whats coming now....

Not to mention the ... ( 10 months ago by TheRealArchAngel)

Not to mention the CO2 sent as Byproduct of burning oil based fuels can itself be turned into plastics. Oil itself is is a natural product and it's the outdated technology that is wasting Co2. 100 years ago Gasoline was a "useless byproduct" of making Kerosene that was just dumped after processing other oil products out of it

Saudis don't have ... ( 10 months ago by TheRealArchAngel)

Saudis don't have as much oil that they say they do, but they are intentionally trickling the spigot. Truth of the matter is that a barrel is 47 gallons, and the Saudis get about 5 cents a gallon, and the Oil Companies make 10 cents a gallon of their end of the deal with government subsidies covering the loss of about $7 a gallon in transporting it and selling it to a refiner.

Actually the Saudis ... ( 10 months ago by TheRealArchAngel)

Actually the Saudis are fucked, because driving the over all price for oil products up by getting greedy is promoting alternative fuels technology. Luckly Industry doesn't work on Starbucks Coffee which is currently $2585 a barrel by comparision or corn Oil which is $375 a Barrel(unrefined)

"Oil Companies" are ... ( 10 months ago by TheRealArchAngel)

"Oil Companies" are actually Energy Suppliers and Exxon provides most of the Uranium to nuclear plants as well and Chevron is the largest producwer of commercial Geothermal Power and also Hydro-Electric. Governments restrict R&D on them and still make them supply oil "at gunpoint" though it's not really profitable to them as Alternative Energy would be.

Add to the fact ... ( 10 months ago by TheRealArchAngel)

Add to the fact that what you learn in School about it being from Dead dinosaurs and plants being utterly wron as there is Oil in the middle of the Oceans. Truth is that,like Dimonds, Oil and Coal and Shale are a type of "Lava rock" from deep earth, and closed Wells seem to seep new oil into them, though not at a rate making them worth opening again

Food, internet, ... ( 9 months ago by chuckerchucker)

Food, internet, shirts and shoes don't depend on oil, they depend on energy. There are other ways to produce thise energy besides oil (Wind, Solar, Turbines) but the car is the only neccessity that requires oil and only oil thus far.

we (the entire ... ( 9 months ago by phantomentality)

we (the entire world), must wake up and produce all electricity and run all transportation on green energy! there's no escape of that!

Families with ... ( 9 months ago by LatteLiberal)

Families with babies dont want to be killed in a tin can Prius. The IIHS website is a lie because it claims the Prius and hybrids to be safer than some larger cars. IIHS is biased by liberal interests. Jobs are lost when fuel economy goes up. Soldiers will be laid off if war ends. The only way to help the economy is to take over more oil and icrease military activity. Period.

The solution is ... ( 9 months ago by 54spiritedwill54)

The solution is nuclear and/or wind power, electric cars and an insane amount of lead-acid batteries, since they are cheap.

good luck you ... ( 9 months ago by GFkilla17)

good luck you stupid humans

what fuel will the ... ( 9 months ago by confeysteve)

what fuel will the recycling plants use?

Uncle Sam is doing ... ( 9 months ago by daltonagre)

Uncle Sam is doing nothing against peak oil.

Our government will ... ( 9 months ago by DescryHeart)

Our government will have plenty of oil. Its the people who worked for it that won't have it. Or they'll need plenty of money to buy it. Rich getting richer, poor getting poorer.
Government will make sure they have plenty of fuel to fight wars if the have to. Even against angry civilian mobs.

And we'll see more ... ( 9 months ago by DescryHeart)

And we'll see more laws which take away freedoms that claim to be directed to this so-called Oil Peak. Their answer is this.. lets make tons of money, reserve enough for the rich, and let the poor suffer. Then when we get low on oil, we'll advertise a new location of oil fields, and start drilling again.

Yep.. Drilling is ... ( 8 months ago by DescryHeart)

Yep.. Drilling is about to become a must on the coasts of California, Florida, all the state coasts that never drilled before. But Guess what? Louisiana, Texas, Mississippi get the shaft at the 65 dollars a barrel. No wonder those states were holding out. Hmm 300 dollars a barrel? We'll be paying $13.84 a gallon of fuel then. Business?

Here in Brazil, a ... ( 8 months ago by daltonagre)

Here in Brazil, a brent of ethanol costs just about R$50.

Solar power is ... ( 8 months ago by ADollarSaved)

Solar power is energy. Conservation IS energy. All these things help the economy. Insulating your house frees up energy for other uses. All energy is more or less interchangeable. Save electricity with compact fluorescent bulbs & you're also saving oil! Jack rabbit your car about and you're also driving up the cost of electricity.
A dollar saved is . . .

Peak oil will put ... ( 8 months ago by janvantonder)

Peak oil will put an uncomfortable stop to the exponential growth of all the things we define as human progress.
Be it population growth, economic or scientific progress. All of these things are ultimately dependent on a finite energy source and it is high time we rethink how our global society and economic system functions.

Very well said! ( 8 months ago by janvantonder)

Very well said!

It takes quite a ... ( 8 months ago by 4ourthofjuly)

It takes quite a bit of energy to recycle plastics, and the product gets worse every generation.

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Matt Simmons (Bloomberg): Peak Oil Now, Oil Perhaps to $300