Matt Simmons, investment banker, and author of Twilight in the Desert, has died.
This is a huge loss, to the world. Amongst other things, Matt has been heralding the exposition of the Gulf of Mexico BP cover up. That is that the well has not been plugged. See the talking heads on Bloomberg.. stunned at how to even discuss the topic, interview Matt by phone on July 21 (Matthew Simmons Discusses BP’s Oil Leak in Gulf of Mexico. For more comprehensive review/interview, A Tribute to Matthew R Simmons | FINANCIAL SENSE)
Other key comments he has made of in the last year or so pertain to how US service stations generally have less than a third of their in ground storage utilised, and a synchronous rush, by motorists to top up, whom being tapped out tend to run low themselves, would lead to a shortages that would take years to rectify. Just like a run on the banks would decimate the financial system. Scary stuff indeed.
Gail Tverberg posts on the The Oil Drum | Matt Simmons, Author of “Twilight in the Desert” and Peak Oil Speaker, Dies at Age 67
One of Matt’s big concerns was the lack of availability of transparent data with respect to oil and gas reserves, as explained in slides such as this one
Probably his most famous line, is that we chronically undervalue such an important natural resource. And that oil should be priced closer to what a cup of coffee costs, rather than less than what a cup of water costs.
Energy world will miss you Matt! - Arab News
Without Matt Simmons: Has Peak Oil, Well, Peaked? - Deal Journal - WSJ
