A Matt Simmons phone interview on CNBC. He’s gotten pretty pessimistic, even doomerish lately.
BORIS
The economy was the real bubble here, oil was merely the fuel driving it.
If by “the bubble bursts” you mean the global economy, which resulted in massive destruction of industry across the board with global trade down 50% now, then yeah.
Oil is a bubble insamuch as modern society is. If society collapses outside the context of energy, so will the price of oil. That goes without saying.
Pending a recovery, oil will not only regain all the position that it lost, but soar to even greater heights. If global commerce never collapsed, neither would the price of oil.
Put a floor under oil? He’s either a crook or an idiot.
there are plenty of lamp poles on wall street…….let’s get some rope and have a parasite NECKTIE PARTY!
Fast Money is the best show ON T.V…. The problem with this video is it’s a traders show… So if you’re a long term player go watch something else.
If you held OIL from $150 to $40 and your blaming CNBC then your a moron…lol
see also the clip about peter schiff on the DOW Jones. They scoffed when he forecast the current problems. Who had the last laugh?
see… i would criticize him, but he is right in the long run..
he understands oil but dont understands crisis…
at that time it was a bubble, but that 50 dollars price wil soon become 150 again… and baybe 200.
on this 3 nov 08, in this season of renewal, MAY THE LITTLE BABY JESUS, the infant of prague, shine his light on the FAST MONEY GUYS and guide them to REAL mainstreet careers and jobs this coming new year.
I love CNBC, especially fast money, these guys are fun to watch. It is, however, funny how we can get so short sighted and so overconfident in our beliefs. As Matthew Simmons put it “The idea that it’s a bubble…this is all poppycock” And now the bubble bursts and oil is near $80. Guess it shows how there really are no sure-fire “experts” in this world in any subject.
today is at $88. i want it to go down to at least $50. and of course, STAY there.
mainstreet to the fast village people guys……..DROP DEAD!
the fast money VILLAGE PEOPLE GUYS NEED WIDOWS AND ORPHANS AND MAINSTREET’S BANK SAVINGS TO LIVE THE LARGE LIFE……….MAINSTREET WILL SUFFER GALACTIC INFLATION FOR THESE VILLAGE PEOPLE GUYS. DIE WALL ST. SCUM!
Yes it’s easy for me and you to stop buying what we don’t buy anyway - but for car-addicts it’s a very different, impossible, prospect. “I need to get to work” etc.
the cool fast money gays are having a tantrum this 9-24-08,,,they want their bailout,,,boo hoo boo hoo boo hoo, i want my bailout mommy,,,,SUCK IT UP COCKSUCKERS!
What the Hell she (Erine) Smoking or Drinking every morning?
Is She Damb ***?
That ***** sound STUPID
.
“X years - conversion of 100 reactors
1 decade - ignition of 100 reactors
3.5 decades - 200 reactors
3.5 decades - 400 reactors (approx. what we have now)
3.5 decades - 800 reactors”
I wasn’t talking about thorium. Even if I were: Plutonium. Enrich more uranium.
“A breeder has to run on HEU for a decade before it has bred enough U233 to start a normal cycle.”
We were talking about uranium, not thorium.
Even if we were talking about thorium you don’t need HEU; plutonium from so called waste will do fine.
lol.. I like the look of the hosts and co-hosts as this guy talks about the total american disaster.
(I do agree we should get completely off oil asap but wow negative)
I should have thought it simple to ‘correct’ the oil price.
In the UK, if people compoletely stopped shopping at BP, the price would drop as the government would be forced to cut the fuel tax.
If you feel bad about this then you simply make a commitment to buy only BP fuel after the price cut.
In the longer temr I look forward to new engine technologies such as those being worked upon by Honda since the 1980’s which the Thatcher government rejected.
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