Oil Firms 'In Liquidation,' Says Simmons

[geustis]

Do cars have to weigh 4000 pounds? You would think for an average price of $25,000, someone could build a four seater that weigs less than 1000 pounds that could do 70mph at 100mpg.

[Knossos22]

$14 Billion to lift production by 100,000 barrels per day from tar sands.

The world is projected to loose somewhere around 20 million barrels per day over the next five years or so (see IEA).

So, what would the investment have to be? 2.8 trillion. That seem doable from an economics point of view. The practical realities might turn out considerably more difficult. The environmental implications will be immense. Gas consumption to transform tar sands into synthetic crude will also be immense.

[boscoesarmy]

ya sure..we're gomnna listen to a CEO of shell who has vested interests in keeping the lid on Peak oil.

[MrEnergyCzar]

People don't like Matt because they know he's telling the truth....and the truth hurts...

[gjuykhjgjhgdxghsfdx]

"Unless we have a very severe meltdown in the global economy..."

[TYX91101]

Precisely the kind of crap commonly heard at the top of a speculative blowoff. It's especially delightful to see so many "experts" proven dead wrong on this problem, one which affects the daily budgets of millions of Americans. I've gotten a $40 a week raise from these chimps.

[DFORCE1969]

Bye bye globalization;go fuck yourself corporate viruses!

[WolYou]

DFORCE1969: Right on! Its time for the international, greedy freeloaders to break down. They are the real wasters of energy. Shifting boxes around the world, killing local economies and markets. The soil will be once again the property of the people living on it. Can't wait to see that happen.

[DFORCE1969]

Yes! I just hope people don't turn on each other;If so we are all finished;Its time for the global elite to pay for their insane greed.

[krist300]

it is fabulous that this video has been seen 3000 times, cause it shows that people don't have a clue about what is going to happen, i'm going to make alot of money off of that ignorance.

[FunnyDigestion]

lol wut.

[aresmars2003]

Speculation is a response of "limitation fears", and higher prices is what we need to encourage more production. Whether we're at peak oil by geology or politics, higher prices are good, getting us ready for a future with less oil.

[krinkly]

peak oil is a myth used to drive up prices through speculation.

[ManicEightBall]

The ONLY way peak oil could be untrue is if we had an infinite supply of oil. If peak oil is a myth, then what are you saying is going to happen?

[stonerj0e]

oil is $135.00 today May 22, 2008. have fun...

[DFORCE1969]

Hoffmeister; you're full of shit.You corporate

whore.

[ruckrover8]

The logic is unassailable:

Oil is now a scarce resource for a global economy the size of now and the future.

Oil MUST BE RATIONED for what the global economy needs to keep modern civilization intact.

Therefore petroleum must be kept for air transport, shipping, agriculture and mining.

It is just insane to continue to sell and buy all these SUVs and big gas-guzzlers to commute around town!

Tax SUVs and big 6 and 8 cylinder cars off the roads to subsidise public transport and EVs.

[mrzack888]

peak oil is bullshit. China and Russia are finding new oil fields all over the place.

[jakob27]

where? show the stats.

[julebuggy]

can't handle it that a conservative subscribes to peak oil? Finding it hard to marginalize him as a enviro-nutcase with a hidden agenda?

[SCTV]

not enough to supply the demand.... dream on

[UnderseaCaveman]

If a VAST Quantity has "very low" EROEI, then doesn't it simply produce MODERATELY...YES...

Like 1 Million times 1 Millionth is ONE, not 1000! That's TAR SANDS for ya'.... Vast quantities of Sand with TAR stuck to it...freakin' beautiful (not)!

Simmons knows~

[UnderseaCaveman]

Matt Simmons is a Genius!

[Iconoclast421]

lol I love how those morons showed the cover of Corsi's book, and not Simmon's.

It's true though, the facts are the facts, non-OPEC output is in decline. Only Russia and the former soviet states have prevented a total collapse. Ironic isnt it?

[HighAway]

So how do we will see an oil shock?

[776281]

"So how do we will see an oil shock?"

Ghawar (world no 1) is producing 40% water, Cantarell (no2) is in serious decline despite nitrogen injection. New Brazillian field is very deep and faces technical difficulties.

Ten years ago $10 bl, last year $60, now nearly $120. End of this year $180?

$4 gal is going to look very cheap very soon. You are watching peak oil unfold before your eyes.

[ManicEightBall]

To update this post. Oil is now above $145 in early July. $180 is getting closer.

[jakob27]

Simmons laying down the gauntlet

[jakob27]

Simmons rules