|This story came out over the weekend.|
For those of us who believe in Peak Oil here is a story on Matthew Simmons. If you saw the doc "A Crude Awakening" you will love this read.
Here comes $500 oil
If Matt Simmons is right, the recent drop in crude prices is an illusion - and oil could be headed for the stratosphere. He's just hoping we can prevent civilization from imploding.
By Brian O'Keefe, senior editor
Last Updated: September 22, 2008: 10:01 AM EDT
Matt Simmons argues that Saudi Arabia's oil supplies are much more limited than everyone thinks.
(Fortune Magazine) -- Matt Simmons is as perplexed as anyone that it has fallen to him to take on OPEC, Exxon, the Saudis, and all the other misguided defenders of conventional wisdom in the oil patch. Why should one investment banker with a penchant for research be required to point out what he regards as the obvious - that from here on out, oil supplies can't meet demand, and if we don't act soon to solve this crisis, World War III could be looming?