Matt Simmons Is Piqued

[AgouraMo]

It is now understood that the high fluctuating price of oil to this level was not based on supply or demand. It was investor manipulation. It is not nice to talk ill of the dead but Matt Simmons was an investor banker and "pumping & dumping" is as old as the market itself.

[TheRadicalLiberal]

Of course then the price did collapse to $25 a barrel and make Mr. Simmons look like an alarmist. Of course he is right and we will see his forecast come true, probably this year as demand starts going up again. I don't see any more youtube videos less than a year old though.

[boscoesarmy]

@foringjar612 China is way ahead of the U.S in terms of R&D on green energy and renewable energy. China is one of the leading countries in the world at the minute researching and developing renawable energy, believe it or not. I can assure you, the U.S is not one of the leading countries.

[PlanetThoughts]

Yep, on target.

[CmdrTobs]

Well, you can say they are deceived on what would happen when oil declines.

But oil declining is fact, I read this one article calling peak oil a fraud and it actually proved it. They said something like "last year we found the biggest find in 30's of the gulf of mexico at 31billion barrels, therefore we are not peaking"

That is 380days of worldwide consumption, that took 30 years to find. Clearly that shows we are on course for shortage, as you should find that every 380 days in reality.

[PlanetThoughts]

The real problem is 5 to 10 years away. I never was convinced this was due to running out of oil. But oil production IS restricted now, being at the peak already, and as oil production gradually drops, and demand rises, we will either poison and burn ourselves with more coal, and / or will see oil become a scarce, fought-over resource.

[PlanetThoughts]

drmodestoesq, I would not want to call them peabrains, but they are not properly informed and so have misguided opinions. I agree with you, and with Matt Simmons, Ken Deffeyes, Richard Heinberg, and so on. The growing cry is to drill more - yet according to Simmons (I have to trust him on this) there are no available rigs, the oil will take years to locate let alone drill, and even then, what will we get? Another year, or two or three? The short-term & long-term answer is renewable energy.

[drmodestoesq]

When it comes down to a debate between a oil geologist and a commodities trader, my money is always going to be on the guy who bases his assessments on holes drilled into the ground. You can talk all you want about economic paradigms from the dismal science but when there ain't no cheap oil left and demand continues to sky rocket its time to think in terms of realities. The problem is that these peabrains who think this a temporary blip are going to bring us all down with them.

[PlanetThoughts]

Damn, I clicked the wrong hand - wanted to add a thumb up.

[Nymphe14]

Thanks for putting this on. Simmons and Marc Faber should do a show together, ripping people and ideas apart left and right.

[danbuck333]

look at the absolute shock on there faces its priceless hahaha

[kkob]

Excellent.Finally Matt is able to speak and not be treated as if he just flew in from Mars. Frankly, the less you people get this stuff, the less competition there is for resources to prepare for what is or might be coming.

Keep your heads in the sand. Please.