Peak Moment 130: Drawing parallels with the current financial meltdown, Matthew Simmons expresses his alarm about gasoline stocks being the lowest in several decades and refinery production down following recent hurricanes. He warns that if there were a run on the “energy bank” by everyone topping off their gasoline tanks, the US would be out of fuel in three days, and grocery shelves largely emptied in a week. In an interview plus excerpts from his presentation at the Association for the …
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those who doesn’t beleive oil is running out just remember discovery of new oil reserve as necessary to keep us going GONNA. Yes there will be new one’s, but in 30 years, you and me not gonna have cars burning gasolines. Because gallon will be about $7-10. You may say “well we will have new technology by then”. Well what is gonna move us so cheaply as natural oil? Battery driven cars?
it makes no sense…I mean the private sector can either turn the page or let India and China turn the page for us…All they have to do is turn electric companies into the “oil”. Demand will always be there and you go green. Make the people happy and get paid. It’s that simple growth increases at 7% a year… and doubles every 10. SO Wake Up private sector nothing’s free you know **** just copy Warren Buffet and you get paid. haha
Were running out of oil,bullshit.We heard that crap all last year.Did anyone see 60 minutes the other night. The cat is out of the bag. The whole oil crises was caused by the investment banks,investors and speculators.Saudi has 2 new large oil fields coming online this year.One field has an estimated quantity of all the oil in USA…And for the global warming crap.Better get a warm coat because scientist are saying we are the edge of an upcoming ice age…
Oil has been peaking gradually since 2005, and you are correct, people are adapting.
They are adapting by being priced out of markets. Hey, demand destruction, great! Now that all you people in Haiti and Bangladesh are no longer eating there’s plenty to go around again! More biofuels please.
I’m interested to know what “other things emerged” earlier this year that replaced oil and why I did not hear about them.
um, that’s not the point of the example, the point of the example is that people will phase out oil before it runs out, just like many other things through the history of human beings, stoves replaced wood fire, producing food replaced hunting, etc.. peak oil believers think that one day we will wake up and find hell has broken loose, that won’t happen, oil will peak gradually and people will adapt, just like when its price rose to 150 other things emerged
“the stone age did not end because we ran out of stone”
um, you don’t burn up stone when you use it.
Well said peakmoment.
We can choose to;
bicycle as much as possible,
grow our own food amap,
get a water tank and greywater system,
improve the energy efficiency of our home.
The next decade will reveal whether or not people today can control our greed, in order to leave something for our descendants.
That’s why a lot of people are building local community self-reliance and resiliency — to be prepared for such contingencies. Stopping all economic activity for long periods of time will probably not happen; it’ll just get more and more expensive. Be we should be prepared for shortages, rationing, curtailment–and sharing.
When oil becomes too expensive to buy, transport shuts down. All the other services that rely on transport, and manufacturing of the other oil products also shut down. Electricity shuts down.
British and Australian governments recently claimed that they have no contingency plans for this eventuality. When it does occur, there will be denial and delay initially (this is where we are now), then it will be too late to act.
If peak oil theory induces people to use new technologies, as you sugest, then we should be moving wholesale to those technologies right now. Peak oil isn’t about running out of oil — it’s about demand exceeding supply. That’s been true for several years now (peak has probably happened).
I hope knowing about peak oil will be a motivator to get people to innovate. Problem is, we are so thoroughly dependent, on a global scale, and it takes 10-20 years to develop new energy sources.
oil is finite that is true, but you are assuming that people won’t innovate and adapt as they did for thousands of years, eventhough u have a clear example infront of you that when oil got more expensive demand was reduced and other energy sources got more into production and use,,, keep in mind that 90% or more of oil use is for transportation, so if people invent other means of transportation then problem is solved, and i think this is doable
the biggest flaw of peak theory is that it undermines people ability to innovate and adopt.. throughout people history on earth they switched between resources and improved way of life through technology, invention, adaptation. The fact is when oil peaks people would already be using something else or have found new technologies to produce oil or other energy,, the stone age did not end because we ran out of stone
that is because govts are using local 3 month storage and are not spending on oil to save the economy, private cash is also not speculating on oil for the same reason
Can you say more about what you mean by wood-gas generators?
This IS a problem… Could You folks do a vid on wood (producer) gas generators?
right now it seems hard to believe this especially because of plummeting oil price due to economy forecast.
i dont’t know how close we are to the tipping point but i understand it will happen and we don’t seem to change the way we live untill it happens..We should start changing our life style.seriouslly.
Thank-you for asking for clarification. My comment was rashly stated. I am saying that it is naive to think corn ethonol can help much with a energy resource shortage because the net energy use is negative. First of all there is a lack of rich compost that could be used for non-food production.
The world- or oil- are not going to end “soon”.
What is going to end is our uncontrolled spending and unhealthy everyday habits.
More and more people are going to turn to public transportation, re-using objects, microgeneration of renewables and eating and growing food locally bescause there are clear benefits for these kinds of actions RIGHT NOW, not in some Mad Max fantasy that some people are waiting for.
Great piece, IOIOIOIOIOIO 
Well well. Finite energy resources are not compatible with infinite exponential growth. Who would have thought.
As a kid I never thought that an energy investment banker would be my hero. Matthew Simmons for president!
Are you saying folks couldn’t grow anything without fertilizer? Or that the ethanol-producer above would need fertilizer for his corn (or sorghum or whatever)?
What a joke. What could you grow without fertilizer - dependent on natural gas, petroleum…
You listen to Hannity dont you? The Final report from the US Geological Survey stated that Bakken only had 3.0 to 4.3 billion barrels of oil. At current consumption, not even a years worth. Please do your own research if you do not believe me.
I have been trying to get local politicians to talk to me about promoting telecommuting rather than spending on roads - for 2 years I have emailed them - and not 1 return call.
secondary schools will become “virtual” in the next 5 years.. Elementary schools will be all that exist largely like they are now…so folks have free daycare.
2 and 1/2 acres of corn will make 1100 gallons of good old fashioned ethanol…at least you can do some personal driving and farming if you have some ground and know how to operate a still..im sure glad im hill people…we have a long history of making fuel…
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