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)

Channel: News & Politics
Uploaded: February 1, 2007 at 7:09 pm
Author: profgoose

Length: 00:05:40
Rating: 4.81
Views: 129438

Tags: Matt Matthew Simmons peak oil prices cera

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Video Comments:
4ourthofjuly (March 3, 2008 at 3:03 pm)
It takes quite a bit of energy to recycle plastics, and the product gets worse every generation.
donttrustany1 (March 1, 2008 at 8:30 pm)
"oil rigs are all 25+ years old....the age when we use to scrap em"
Oil company's make the most profit in history, so why would they not be building new rigs? Peak oil has either happened or will happen very soon.
janvantonder (February 28, 2008 at 1:32 pm)
Very well said!
janvantonder (February 28, 2008 at 1:30 pm)
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.
ADollarSaved (February 25, 2008 at 8:37 pm)
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 . . .
daltonagre (February 24, 2008 at 10:35 pm)
Here in Brazil, a brent of ethanol costs just about R$50.
DescryHeart (February 22, 2008 at 3:14 pm)
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?
DescryHeart (February 21, 2008 at 9:30 pm)
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.
DescryHeart (February 21, 2008 at 9:22 pm)
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.
daltonagre (February 16, 2008 at 5:39 pm)
Uncle Sam is doing nothing against peak oil.