Matt Simmons on Bloomberg News

[krist300]

muther fkn shocking, the terms which he frames the argument of peak oil and how invaluable it is. people need to seriously change there habbits.

[bababookaka]

I LOVE THE "SUN" AND ITS ENERGY:!!!!

[vientorio]

Is it just me or does the interviewer sound bit like Kermit frog?

[bababookaka]

jaaaaaaaaa

A FROGGGG

[doctormodesto]

Starbucks mixes some hot water with some ground up coffee beans and charges people 3 dollars a cup and people think thats natural and reasonable. Yet people seem to think that there's some natural or devine law that says that oil is too expensive at 15 cents a cup.

[raptorkiller2k5]

Oil produces more work. Consider that significant difference between the two. In addition, oils demand-supply curve is highly inelastic as well.

[rvbarnesboy]

think of all the money those oil companies are making lately. where, pray tell, is the noblesse oblige?

need to share the wealth.

[GeorgesmithPattonjr]

Did it ever occur to you, that they need the money to invest in new projects? So called big oil isn't so big anyway. Exxonmobil doesn't control 3% of the world oil supply. Most of the oilreserves are controlled by incompetent goverment who have there own political agenda. That is one reason why oil is so high!

[doctormodesto]

With all due respect Mr. George I would think that any country with any oil that wants to get the most money for it is the opposite of incompetent. Britain pumped all its oil out of the north sea in the 80's and 90's at twenty or thirty dollars a barrel and now there's hardly any left just when the planet is hitting peak oil. So not only isn't the U.K. going to have any of the highly profitable export market of say 200 dollars a barrel but it will have to import oil at the new high rates.

[rvbarnesboy]

Hmmmm.

Matt sounds like a bit of a shill on this one. But I still love him.

needs to lighten up on the tater tots, though

[ViagraMan2Us]

Matt's oil well pumper in the background isn't running this time. Has its production peaked?

[geir44]

Looks like it.

[advancedatheist]

If we just now discovered petroleum for the first time, gushing out of the ground in various parts of the planet, it would look a lot like science fictional fantasies about "free energy."

[andrewdykers]

Well-put.

[thesoothsayers]

When you two are walking in the streets begging for food, I will laugh. You have not traveled to China or India lately I take it. I was in Venez last week, fuel was 6 cents a gallon. Do you have any idea how much demand has exploded at the worlds major exporters to the USA? Mexico is in decline. They are broke, that is why we have the immigration problems we have.

[Jeroenla]

*rolls eyes*

[AliefDuffey]

That is stupid, 15 cents a cup, you can't run anything with a cup of oil.

[soylentgreenb]

"That is stupid, 15 cents a cup, you can't run anything with a cup of oil."

You can haul a 2 tonne behemoth over a mile with one cup of oil. You can bring some 20 liters of water to boil from room temperature. You can run a compact flourecent light bulb for over two days with a sub-standard 25% efficient generator etc...

[doctormodesto]

Don't confuse this individual with the facts Mr. Soylent.

[UnderseaCaveman]

The most relevant question is at price of Oil will people stop driving for fun?

Are you willing to $20/gal for Gas? Or $1/mile of scenery driving?

Surely, people will a $0.25/mile....

People now pay $0.8/mile for a cab ride...only when necessary! That translates to $504/bbl of Oil... so the economy will suffer fairly dramatically at about half that, or $250/bbl...

[ravis303]

One cup of oil represents 40 hours of human labour (you moron). Probably 100 hours of your labour.

[kevinabt]

Sort of. One cup of gas will move most cars about 2 miles. A human can move themselves that far in about half an hour. Most of the time people drive their cars alone and don't haul anything. Most of the energy from that gas is going to waste.