Matt Simmons uber doomer on CNBC

kokoda · Heavy Crude Joined: Aug 24, 2006 Posts: 449

I used to work in a supermarket when I was going through uni. They generally only carried about 3 days worth of stock on the shelves. That is how far away we are from food shortages ... just 3 days.

Leanan · News Editor Joined: May 20, 2004 Posts: 4580

Armageddon

It says the video is no longer available . wtf ?

jake · Tar Sands Joined: May 21, 2004 Posts: 74

Does anyone on PO.com use Digg? We should mass-digg lots of stories like this to try and build general awareness. I've just dugg this one:

http://digg.com/business_finance/CNBC_Oil_price_to_go_way_higher_Simmons_on_peak_oil
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Leanan · News Editor Joined: May 20, 2004 Posts: 4580

rdsaltpower · Heavy Crude Joined: Aug 30, 2006 Posts: 125

You guys are right The young "gel" guy had some unnerving looks while Simmons was talking. You could kinda feel it in the air!

crossthread · Heavy Crude Joined: Jun 20, 2004 Posts: 180

Thanks Leanan, for posting this..
+1 and Lots for Karma.. eusa_dance

I'm posting it on Local Boards I frequent...
I agree, everyone is still in a state of Denial...
Some of ya'll should hear the theories on a couple Boating Boards I visit, you would think that you just entered into the "Tin-Foil" Land,(quire the Twilight Zone Music) zalien

coming from Supposedly well off, Educated People..

I reside in the Hurricane Zone, I KNOW what happens when a City is cut off from fuel/deliveries for more than a week...
The Natives get restless and Law & Order breaks down FAST..

I agree, Mad Max, here We come...

Armageddon

3aidlillahi

Good job with all of these videos. A bunch of great videos up there. Smile

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Twilight · Expert Joined: Mar 02, 2007 Posts: 3076 Location: UK

MyOldTDiIsStillGoing

What was interesting was Matt said was we should of gone out 10-15 years ago and explore the outer continental shelf, etc to determine and get the areas ready.

Back in 1986, when the price were dropping worldwide, Cheney of all people wanted to tax the imported oil when it went below $24/bl and use the difference to fund exploration and such. He did it when he was a congressman but the bill never went through. That was the political economics back then. Then, the domestic exploration could not afford to pump at that low market price so the wells started to be capped, and we increased our foreign dependence on cheap oil. Food for thought of past actions.

Whether we like Cheney or not, he did make sense to use the tax to go and get domestic oil. As Simmons said in the interview, the government back then should of been opening up the field and getting things ready. The rigs would of been on line by now. Would a Matt Simmons endorse a foreign tariff tax on cheap oil to be used for domestic exploration and rigging? In this interview, he hinted the government should of been looking everywhere on our soil and our seas to get the oil. That could of been subsidized by the tax, which was what Cheney was pushing for. He looked beyond the political economics.

Now, accord to Simmons, it maybe (or is) too late. We bought cheap middle east oil until the demand worldwide got too high, supplies too low, and the price now sky rocketed out of sight. And don't forget, the supply is now peaking or it already peaked, and the worldwide demand keeps growing.

But the past we cannot change, we can only move toward the future, a big unknown future. Simmons is getting HIS GARDEN ready, a millionaire of all people.

Fortunately for CNBC, the host was mature enough to work with the words of Matt Simmons. Could you imagine if it was just those deer-in-the-headlight GenXers and the late baby booms that were on the panel hosting the interview? I'm for sure Mr GelHair had to get his $1000 suit dry cleaned after that oil drilling.
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dorlomin · Light Sweet Crude Joined: Aug 05, 2007 Posts: 1141

That was very subtly stunning to watch.

Simmons has the one qualification those people totaly respect, he has a stratagy to make money out of the current situation. He has been on those shows as the comedy 'alternative' veiw but has been right and has basicaly a stratagy to make money.

With that credibility he just dropped the truth on them. You could see pennies dropping. However by tomorrow they will be convincing themselves that everything is ok.

DantesPeak

While Simmons spoke late in the day, counterbalancing that earlier in the day Bloomberg had Yergin and Lynch on in seperate appearances.

Those two have never given up hope on the return to $40 oil - or at least some price much less than now. While they don't exactly say all is going to end well, their message is that $145 is just a blip on the way to a much better supply/demand situation for oil. They generally get more air time in the media than Simmons with their upbeat message.

I don't believe anyone in the media has confronted them specifically and stated that "you've been predicting $40 oil for so long, how can you be so wrong?". No, that is never asked, although at least for Simmons he is getting some credit (but not enough) for being way ahead of the curve on PO.
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bobcousins

I think the panel just thought Simmons had totally lost it, especially when he said "no food". I fear Simmons will end up like Mike Ruppert, predicting "the US will collapse within 2 weeks" - that was 2 years ago.

I had to laugh at the trader punk, his face was in overdrive. Entertaining to watch, but is US TV really this bad?
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