Matt Simmons (Bloomberg): Peak Oil Now, Oil Perhaps to $300

It takes quite a bit of energy to recycle plastics, and the product gets worse every generation.

"oil rigs are all 25+ years old....the age when we use to scrap em"
Oil company's make the most profit in history, so why would they not be building new rigs? Peak oil has either happened or will happen very soon.

Very well said!

Peak oil will put an uncomfortable stop to the exponential growth of all the things we define as human progress.

Be it population growth, economic or scientific progress. All of these things are ultimately dependent on a finite energy source and it is high time we rethink how our global society and economic system functions.

Solar power is energy. Conservation IS energy. All these things help the economy. Insulating your house frees up energy for other uses. All energy is more or less interchangeable. Save electricity with compact fluorescent bulbs & you're also saving oil! Jack rabbit your car about and you're also driving up the cost of electricity.

A dollar saved is . . .

Here in Brazil, a brent of ethanol costs just about R$50.

Yep.. Drilling is about to become a must on the coasts of California, Florida, all the state coasts that never drilled before. But Guess what? Louisiana, Texas, Mississippi get the shaft at the 65 dollars a barrel. No wonder those states were holding out. Hmm 300 dollars a barrel? We'll be paying $13.84 a gallon of fuel then. Business?

And we'll see more laws which take away freedoms that claim to be directed to this so-called Oil Peak. Their answer is this.. lets make tons of money, reserve enough for the rich, and let the poor suffer. Then when we get low on oil, we'll advertise a new location of oil fields, and start drilling again.

Our government will have plenty of oil. Its the people who worked for it that won't have it. Or they'll need plenty of money to buy it. Rich getting richer, poor getting poorer.
Government will make sure they have plenty of fuel to fight wars if the have to. Even against angry civilian mobs.

Uncle Sam is doing nothing against peak oil.