| CNBC newscast covering oil featuring Matt Simmons |
| Fredag, 18 Juli 2008 22:40 |
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Check out 4:35 where a really horrendous scenario is presented. We're wasting so much time going on a witchhunt trying to find out who got the prices so high. What we ought to be doing is doing our homework for what we didn't learn in the last decade - the fact that we were giving oil away and it's still cheap. It's going to go higher, it might go way higher. It's getting quite obvious that we are not looking at a bubble and that speculation is not what is driving the oil price. We're facing a "surplus demand". Looking at it as a supply deficit is ridiculous.
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A seven minute CNBC newscast featuring an unusually pessimistic Matt Simmons. The looks on their faces is classic, a recognition of a plausible threat and genuine fear of the consequences of Peak Oil.
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