Monday, August 11, 2008

Matthew Simmons: Energy still cheap

Matthew Simmons, chairman and CEO of Simmons & Company International, is a noted energy investor and chronicler of peak oil. His 2005 book, Twilight in the Desert, argued that Saudi oil reserves were overstated and that the world was reaching an iminent peak in crude oil production capability.

Simmons appeared on the Financial Sense Newshour last week for an interview about oil production and the future of energy prices.

In, "Energy: It's Still Cheap", Simmons and FSN host Jim Puplava discuss the possibility of coming oil shortages, as well as options for mitigating future energy crises through conservation methods and lifestyle changes.

Looking at prices in Europe and much of the rest of the world, Simmons notes that oil is still relatively cheap in America, despite Americans' growing outrage over steadily escalating oil and gasoline prices.

How will we cope with $9 or $10 per gallon gasoline prices and the possibility of future supply disruptions in an oil-dependant society?

Hear the interview and see the related reading links to find out more about peak oil and the shift to energy alternatives.