Analyst peaks interest on decreasing oil supply
Tim Lajoie
Issue date: 4/27/07 Section: News
The students of John Carroll's Peak Oil class sat scattered across the rows of chairs in Huddleston Hall's slightly lit ballroom. For them, the issue of peak oil is nothing new, but for most Americans peak oil is a term they have heard of very little.
For Matthew Simmons, who studies the depletion of the earth's natural oil reserves, peak oil is the most important problem the world faces today. Simmons, a banking and investment advisor to the oil industry for approximately 38 years, was the latest speaker in UNH's Discovery program Power to the People, which focuses on energy use. In the past, Simmons served as a key advisor to the Bush administration, as a part of Vice President Dick Cheney's Energy Task Force.
Simmons was introduced by UNH professor of environmental conservation John Carroll, whose class on peak oil is one of few in the country.
"We needed to do all we could to get Matthew Simmons to our campus," said Carroll. "He is the prominent speaker on peak oil. His findings will affect everyone in this audience."
Many, including Simmons, believe that the world's oil reserves will peak soon, or that they already have. This will lead to declining oil production and eventually to a depletion of all oil.
"We have been living for 50 years in an energy dream," said Simmons. "The world faces a real crisis. It's time to remove the rose-colored glasses."
Fossil fuels were not widely used by industrial nations until the 20th century. Throughout the 20th century the United States was the largest energy consumer. The United States, however, supplied most of that energy itself until oil production peaked in 1970, followed shortly by the peak of natural gas in 1973. Simmons sees that as the start of the major peak oil problems.
"Two-thirds of the world's oil producers are in decline," he said. "The United States is now the single largest oil importer in the world. We have no Plan B. Demand is too young and the supply is too old."
For Matthew Simmons, who studies the depletion of the earth's natural oil reserves, peak oil is the most important problem the world faces today. Simmons, a banking and investment advisor to the oil industry for approximately 38 years, was the latest speaker in UNH's Discovery program Power to the People, which focuses on energy use. In the past, Simmons served as a key advisor to the Bush administration, as a part of Vice President Dick Cheney's Energy Task Force.
Simmons was introduced by UNH professor of environmental conservation John Carroll, whose class on peak oil is one of few in the country.
"We needed to do all we could to get Matthew Simmons to our campus," said Carroll. "He is the prominent speaker on peak oil. His findings will affect everyone in this audience."
Many, including Simmons, believe that the world's oil reserves will peak soon, or that they already have. This will lead to declining oil production and eventually to a depletion of all oil.
"We have been living for 50 years in an energy dream," said Simmons. "The world faces a real crisis. It's time to remove the rose-colored glasses."
Fossil fuels were not widely used by industrial nations until the 20th century. Throughout the 20th century the United States was the largest energy consumer. The United States, however, supplied most of that energy itself until oil production peaked in 1970, followed shortly by the peak of natural gas in 1973. Simmons sees that as the start of the major peak oil problems.
"Two-thirds of the world's oil producers are in decline," he said. "The United States is now the single largest oil importer in the world. We have no Plan B. Demand is too young and the supply is too old."
Viewing Comments 1 - 7 of 7
grog
posted 4/27/07 @ 9:20 AM EST
how many times did mr simmons vebalize the word "basically" during his presentation ?
100 ? 200 ?
this nations' "higher learning" institutions are OBSESSED
with the two adverbs actually and basically. (Continued…)
Mike Bendzela
posted 4/27/07 @ 10:53 AM EST
"that's how wars get started..."
Mr. Simmons is a little disingenuous. Those wars have already started.
Simmons considers himself "a personal friend" of Emperor Bush. (Continued…)
Rick
posted 4/27/07 @ 12:15 PM EST
Mr. Simmons is one of the most knowledgeable, passionate, and downright INTERSETING speakers there is on this subject. But yes, he does have that irritating habit of over-using the word "basically. (Continued…)
Ray
posted 4/27/07 @ 11:21 PM EST
Simmons was an early voice in the wilderness on peak oil. Regardless of his political affiliation, he has helped to make the issue known to a growing number of people, including some influential political and economic leaders. (Continued…)
Jacob
posted 4/28/07 @ 10:30 PM EST
Mr. Simmons is one of the more thoughtful, informed voices on this issue. His book "Twilight in the Desert" is well worth your money and time. Would that our many media sources would do more to explore this issue. (Continued…)
Akonitum
posted 5/01/07 @ 4:32 PM EST
I find Simmons quite convincing in his analysis of the global peak oil and the North American peak natural gas situation.
From my perspective, however, his analysis of the dilemma falls short to the extent that as a financier and businessman he still implicitly believes in business-as-usual exponential growth (http://www. (Continued…)
nicole
posted 4/03/08 @ 8:12 PM EST
why does mr simmons keep on using the word basically its so annoying its called learn a new vocabulary...seriously
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