Oil at $150 Next Week?

A Matt Simmons phone interview on CNBC. He's gotten pretty pessimistic, even doomerish lately.

Category:

News & Politics

Tags:

• peak
• oil
• Matthew
• Simmons
• prices

[rosewood223]

at $144, they predict $200.

now at $53,they predict $20.

fuck CNBC.

[OneGnomeFrito]

The investor douchebag at the end completely ignored everything Mr. Simmons had JUST said, repeating the "it's cyclical" bullshit.

And we wonder why we're in the situation we are now. Assholes like him have all the money, and everyone else gets screwed.

[boscoesarmy]

@domdadon018 "In my dealings with a lot of the optimists, they don’t have the vaguest understanding of how complicated it is to actually drill a well ".  – Matt Simmons

[domdadon018]

@boscoesarmy half-year financial report from bp, published last week, says that bp cant keep up with demand. supply rate even decreased 10%, and total fina as first oi-company in history, declared in public that oil supply cant be increased anymore!

[YiuTeub]

here we go again!

[boscoesarmy]

@ctrader09 You moron. You haven't got a clue about Peak oil. The only reason the price has fallen is because the world wide demand for oil fell drastically with the world wide recession. At the height of the world wide boom, oil soared to $147 a barrell. When the economy picks up watch the price of oil soar past $147. Peak oil hit in 2005. The oil companies could not keep up with demand. Demand dropped with the recession hence oil demand dropped. Simmons couldn't predict the economic crisis.

[ronpaulbot]

4:10 - The faces on the anchors are priceless.

[SpiceSE90]

You're a moron if you watch CNBC for investment advice. They obviously don't know what they're talking about.

[slvrserfr]

Amazing how much the show has changed in such a short amount of time, guest Joe Terranova becomes one of the co-hosts of the show for example. $200 a barrel for oil? Have these guys lost their minds in taking into consideration that the energy crisis was established 30 years ago (and ignored by American automakers) plus factors of price elasticity were inevitable as oil companies transitioned to hoarding more and more of their reserves.