Saturday, February 3, 2007

Is Peak Oil Here Already?

"In the next year or two the issue of peak oil may replace global warming as what we're worried about and talking about."
This prediction was recently made by Matt Simmons, Chairman of Simmons and Co. International, an independent investment bank specializing in the energy industry. Matt recently made an interesting claim that we are already at world wide peak oil production. Oil production in the future may be flat for a while and then start an inevitable decline. With demand for oil still accelerating, this will drive oil prices substantially higher, possibly reaching $300 per barrel at some point

He expects big changes in society, and if we make these changes right we'll get through this change alright. You can see Matt Simmons talk about this here.

Additional speeches from Matt Simmons are available here. Another interesting link on peak oil can be found here.

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