OK, I know it’s not exactly news that Matt Simmons is speaking out yet again on peak oil. Honestly, that boy flaps his gums on oil more than I do, which is saying a hell of a lot.
But this is an example of Matt at his finest, and it’s worth your time. It’s a chat he had with Jim Puplava over on Financial Sense Newshour. You want part 3B of the show, which can download directly here (27.3MB MP3) or stream from the link above. Matt’s portion of that recording runs from about the 12 minute, 40 second mark to roughly 35:30. (The whole file is over 95 minutes.)
This time around, Matt talks about peaks, production plateaus, getting the attention of people outside our little circle of energy geeks, the specter of “minimum operating levels”, that point where we don’t have enough gasoline in the system to keep the 170,000 gas stations in the US supplied, and more.
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November 28th, 2007 at 5:56 pm
The best part is the next (Nov 23? 24?) show where they (Jim and John) call for a total collapse of the financial system - no trust left in the dollar.
You can see some of this reflected in other sources. With the US $ as the world reserve currency - basically the currency in which banks and countries squirrel their savings - and the US $ in freefall there will be a big push for hard assets (gold?) with which to back up currencies.