Simmons Sees Oil Climbing on `Unbelievably'

[sangolt88]

Its December 29th, 2011. Oil is $99/barrel.

[nextlifeguitarist]

that will be interesting, be prepare for an' interceptor' world like....may be people will rediscover interests about true life, so forget big car, plasma tv, mc donalds poison and focused only on to survive...

[gabbogabbo]

I agree the world is capitalistic. Take what we can now and who cares about the countless generations to come. I dont think america or any other country for that matter will break are dependence on oil, how can we almost everything we have in are lives is some how made or brought to us by oil. I think an oil crash sooner or later is inevitable, and are kids and grand kids are going to have to pay the price for are consumerism

[DFORCE1969]

But every cloud has a silver lining;

Oil at $300= bye bye global capitalism;Third

world sweatshops will become uneconomic;

manufacturing will have to return to locations near centres of demand.

[HugeJohn51]

You know what? That actually is a happy thought isn't it?

[jakob27]

i agree

[youthforoil]

They'll be nothing to manufacture because no one will be able to buy anything. Goodbye computers,air conditioners,sneakers,bandaids­, hair color,heart valves, anything made with plastic, etc. etc.

Sounds awesome. We all build mud huts and carve symbols on stone (because we won't be able to write - pen ink comes from oil)

If this is how you want to live why do you live in the United States - there are many countries who are not capitalistic.

[DFORCE1969]

I don't live in the US and your hysterical reply is bollocks;A technological society could continue IF rational planning measures to utilise renewables etc were put in place;Contraction does not equal a return to paleocentric values!

[youthforoil]

With what machinery, etc.How many steps backward would we have to take,how many people would lose their jobs,our infastructure is built out of oil,literally, oil brought us into the modern age.We need to better use renewable energy, but in the meantime use what God put in the earth for us to use.If someone could make money converting garbage,wind,etc.they would be doing it more often.Obviously it is not profitable enough yet give it time but now the world runs on oil.I am 13 so please take note.

[0rangePete]

The entire world is capitalistic. "Capitalism" is just a synonym for the more twisted tendencies of human nature.

[columbosdog]

Matt Simmons is not uually prone to rhetoric - he is a careful analyst. If he says we could be going to a $600 barrel within 6 months to 5 years, then we ought to take it seriously. All bets would be off as to the consequences.

[drmodestoesq]

I personally think the unique point Mr. Simmons was making was that oil companies produce a extremely small amount of the world's oil. 90 percent of the planet's oil comes from state owned corporations. That being the case companies like exxon are depleting their own very small stocks of oil and bringing it to market. And if I understand Mr. Simmons, he seems to be saying that when that oil runs out those companies are going to be like a pharmaceutical company who best drugs are off patent.

[mrzack888]

600/barrel = MASS hysteria in the United States and mass HYPERINFLATION of the world currencies = 8000 GOLD and 900 Silver. Buy gold silver now, pay back your credit card and debts later.

[ricelso]

OVER NINE THOUSAAAAAAAAAAND!!!