Simmons Says Raised Saudi Oil Output Is `Drop in Bucket'

Matt Simmons on Bloomberg. He talks about peak oil, oil prices, and whether demand destruction/recession can lower the cost of gas.

Category:

News & Politics

Tags:

• peak
• oil
• Matthew
• Simmons

[rorider]

This man has done his research. He seems to really know what he's talking about. I guess the worst is yet to come.

[keithholden]

Prices of oil in usa have been to cheap to long and now we will be short as they consumed to much for to long,And its still cheap there and they complain. Burn the suv and buy a motor bike,toughen up.Its cold here and I ride one a car is to expensive for me know. usa resssion, usa dollar colapse , usa unemployment, Massive inflation,war with iran, prepare your world for a simpler life and use your money to prepare instead of buying plazma tvs, share market will colapse as profits fall.

[chuckyko]

The one thing the Peak Oil Theorists missed was the Great Recession. Prices are up again, but demand in the US is falling about 1-2% a year.

[NorwegianCrows]

Simmons was a great man, he should have had another 30 years

[leofrankfurter]

We do not produce oil we destroy it.

[ButterySexBiscuit]

The sooner the better. Civilization needs to collapse.

[uch]

supply has nothing to do with it, its all set bu chicago

[FelizJesusbirth]

No, but you can suffocate and die. :P

[WolYou]

The only term in which the interviewer thinks is "boosting production". Just like production is making oil out of thin air. You can't change supply shortage of resources by "increasing production". Oil is not being "produced", oil is collected! She's missed the point.

[electrogravitic]

Glad to see the media let Matt Simmons address this issue more regulary. As Yayapilo said oil IS a limited resource, it's finite, it will have an end and most of the oil fields are old. So what should we do now????? Stop looking for more oil and invest HEAVILY into out of the box thinking alternatives. Why search for more oil? You're only living on borrowed time, a new field ( if found ) will peak at some point and you're back to square one! LEADERS FORGET OIL AND GOTO ALTERNATIVES!!!

[UnderseaCaveman]

Gonja, you are of the few, and wouldn't make a good "yardstick". It would be a real stretch to say "when people who don't drive, give up their Pepsi in order to pay the electricity bill"... Now, If you don't pay electricity..I wanna know your secret. Yeah, my brain tonic is coffee, I only object to sugar in large liquid dosages (ala cornsyrup).