$200 Oil Is Coming While We Waste a Perfectly Good Crisis

…The peaking of hydrocarbon supply is vital not just to our country

The optimists dismissed the fact that oil prices reaching $147 a barrel had anything to do with constricting market fundamentals. Instead, they argued that lofty crude prices were merely a by-product of a weak dollar, hedge fund speculation, geopolitical trepidation, downstream log jams, the Iraq war, Nigerian political turmoil and the craving for high prices within OPEC, which kept enormous spare capacity shut in. When prices skyrocket again, these optimists will produce new excuses. Facts are facts. Easily found cheap sources of energy are in terminal decline.

Matt Simmons explains the long and winding road to our current predicament…

Seeking Alpha

Part II

Part III