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Oil and Gas - The Next Meltdown?
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Drawing parallels with the current financial meltdown, Matthew Simmons, the CEO of Simmons & Company International, 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 U.S. 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 Study of Peak Oil (ASPO-USA) conference on September 22, 2008, Matt highlights the risks and vulnerabilities in the finished oil products system, and answers audience questions. [www.simmonsco-intl.com]
This is the first of several Peak Moment conversations videotaped at ASPO-USA 2008.
Coming: Peak oil-savvy financial consultant Jim Puplava of Financial Sense, and Randy Udall, energy analyst and co-founder of ASPO-USA.
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Fossil Fuel
