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ARTICLE: “The only way is down: The high priest of ‘peak oil” thinks world oil output can now only decline,” The Economist, 12 July 2008, p. 77.
Matthew Simmons is the classic, on-his-way-out-the-door doomsayer: spent a life in the business and now sees only doom ahead.
The clincher for me:
In the meantime, Mr Simmons is taking no chances. He plans to start up a farm near his house in Maine, in case the supply chain that provides America with food breaks down for lack of fuel. He plans to fertilize his fields with manure, rather than chemicals derived from oil and natural gas. He thinks globalisation must stop, and that as much trade as possible should be conducted by boat, to conserve whatever oil remains.
Mad Matt, here we come!
Still, the guy’s company is investing in alternative fuels, so maybe we’ll survive after all.
My point: the personal bent on this subject never ceases to amaze me.
Frankly, I don’t think the oil price hike could have come at a better time.
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