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

Matthew Simmons, chairman of Simmons & Co. International in Houston, talked yesterday with Bloomberg's Rhonda Schaffler about the need to address energy use, his view that global supply has peaked and the likelihood oil prices could reach as much as $300 a barrel. (Source: Bloomberg)

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[profgoose]

If you all are interested in this topic, make sure to go over to The Oil Drum (theoildrum DOT com), really educational and evidence-laden place over there.

[donttrustany1]

"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.

[janvantonder]

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.

[4ourthofjuly]

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

[janvantonder]

Very well said!

[Dalton C. Rocha]

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

[Dalton C. Rocha]

Uncle Sam is doing nothing against peak oil.

[GFkilla17]

good luck you stupid humans

[54spiritedwill54]

The solution is nuclear and/or wind power, electric cars and an insane amount of lead-acid batteries, since they are cheap.

[LatteLiberal]

Families with babies dont want to be killed in a tin can Prius. The IIHS website is a lie because it claims the Prius and hybrids to be safer than some larger cars. IIHS is biased by liberal interests. Jobs are lost when fuel economy goes up. Soldiers will be laid off if war ends. The only way to help the economy is to take over more oil and icrease military activity. Period.

[phantomentality]

we (the entire world), must wake up and produce all electricity and run all transportation on green energy! there's no escape of that!