[TheAntiDoomer]

$this->bbcode_second_pass_quote('pstarr', 'A')nd as you two continue to deny peak oil you will remain forever laughing stocks.

[eastbay]

$this->bbcode_second_pass_quote('mos6507', 'M')att better be careful about sticking his neck out again after what he said last time about $300 oil.

[AirlinePilot]

Matt may have made some bad calls, but his message is clear, its concise, and its well researched. He has done the work many in here have not.

Oil is just too cheap for what we use it for and what it does compared to a lot of other things. When the world catches on, and they will, the fun will begin. I agree he has been a bit "out there" lately, but that's because he feels as a lot of us do, that folks just aren't getting it. I believe in time he will be vindicated.

[KevO]

He's right though.
The oil infrastructure is about to die and there simply is no money to build new and add to that what the IEA are saying (at the original link)
$this->bbcode_second_pass_quote('', 'I')EA Deputy Executive Director Richard Jones warned the oil market this week that so far as much as 2 million barrels per day (bpd) of new upstream capacity due to come on stream had been deferred for now due to lack of funds and low oil prices The IEA is also worried recent cuts in oil production by the Organization of the Petroleum Exporting Countries in an attempt to bolster prices have left oil inventories dangerously low, leaving little room for maneuver when oil demand recovers.

Simmons says many OPEC oil producers will find it difficult to bring output back to previous levels once prices recover.

"When you have an old oilfield whose flow is being maintained by extremely high levels of investment and you reduce production, you rarely if ever get back to where it was.".

[KevO]

[quote="pstarr" ]Hubbert was talking about a culture of denial.[/quote]

Yes and time will indeed tell.
Deniers always lose, always suffer most. poor things
But I think this recession isn't actually happening and ice is getting thicker at the poles and carbon is decreasing and we have enough oil forever etc

[AirlinePilot]

$this->bbcode_second_pass_quote('pstarr', 'H')ubbert was talking about a culture of denial.

[KevO]

Deniers always side with the Saudi, 'we've got loads of oil', B.S

$this->bbcode_second_pass_quote('', ' ')Saudi Arabia's oil minister warned of a possible "catastrophic" traditional energy supply crunch without prompt investment.

"In years to come, if traditional energy supplies should prove inadequate because capital expenditure was curtailed due to unsustainable prices, unreliable indication of future demand or hopes for a substitute that oil cannot deliver, such a supply crunch would be catastrophic," Ali al-Naimi said on Wednesday.

[AAA]

$this->bbcode_second_pass_quote('mos6507', 'M')att better be careful about sticking his neck out again after what he said last time about $300 oil. If he racks up two or three bad calls he is going to be written off as a complete laughing stock if he isn't already.

[jasonraymondson]

What does he mean exactly by price shock

$100
$200
$900089.32

???

btw. He is wrong about 3 - 6 months for sure. Prices will got up to maybe 85 by august. 100 by december.

[Timo]

3 to 6 months......

That translates into 1/2 to 1 F.U.

Historically, Friedman Units never seemed to materialize, but Matt's prediction could prove to be the exception.

[davep]

$this->bbcode_second_pass_quote('Timo', '3') to 6 months......

That translates into 1/2 to 1 F.U.

Historically, Friedman Units never seemed to materialize, but Matt's prediction could prove to be the exception.

[jasonraymondson]

$this->bbcode_second_pass_quote('Timo', '3') to 6 months......

That translates into 1/2 to 1 F.U.

Historically, Friedman Units never seemed to materialize, but Matt's prediction could prove to be the exception.

[mos6507]

I'm not saying he's going to be wrong again. But he's now 0 for 1 and should be judged accordingly. I just think when he gets all this airtime and he's wrong he really sets peak oil awareness back in a big way. Peak oil should not be a game of darts trying to make short-term doom predictions.

[bencole]

$this->bbcode_second_pass_quote('', 'H')e says the cost of rebuilding the oil industry is colossal: "The industry's asset base is beyond its original design life."

[vision-master]

$this->bbcode_second_pass_quote('', 'M') King Hubbert wrote:
"The steep ride up the and down the energy curve is the most abnormal thing that has ever happened in human history. Most of human history is a no-growth situation. Our culture is built on growth and that phase of human history is almost over and we are not prepared for it. Our biggest problem is not the end of our resources. That will be gradual. Our biggest problem is a cultural problem. We don't know how to cope with it."

[Pops]

$this->bbcode_second_pass_quote('mos6507', 'P')eak oil should not be a game of darts trying to make short-term doom predictions.

[bencole]

http://www.youtube.com/watch?v=Gem872xH_7s

Matt Simmons interview on TV Ontario (cool channel, for those who know what I mean).

An interesting statement by him in the interview is that he believes $600 for a barrel of crude oil is a reasonable asking price (I like his analogy that if you pay $5 for a glass of beer and don't complain, then you shouldn't complain about paying 22 cents for a glass of refined petroleum product that does a large amount of essentially free work for you). Also he states that 95% of the oil industry infrastructure and equipment in the world is in a bad state of deterioration due to age.

[Revi]

Simmons always has a lot to say about the deteriorating infrastructure, and all the problems associated with the oil complex, but they always quote him on his predictions. He should drop the predictions, or quit putting time and money calculations on them, and talk only about the problems. Let people come up with their own conclusions when they know the facts. He may be right about the price shock in 3-6 months, but who knows?

I think the price of crude should be around $300 a barrel, but we seem to want to sell the stuff for much less just to get it out of the ground and keep the "economy" running.

[Hawkcreek]

$this->bbcode_second_pass_quote('', 'A')n interesting statement by him in the interview is that he believes $600 for a barrel of crude oil is a reasonable asking price (I like his analogy that if you pay $5 for a glass of beer and don't complain, then you shouldn't complain about paying 22 cents for a glass of refined petroleum product that does a large amount of essentially free work for you).