Or Not
Oil 'will hit $100 by winter': Worst-ever crisis looms, says analyst · Surging demand to keep prices high (Heather Stewart, The Observer, 07/03/2005)
Oil prices could rocket to $100 within six months, plunging the world into an unprecedented fuel crisis, controversial Texan oil analyst Matt Simmons has warned.
After crude surged through $60 a barrel last week, nervous investors were pinning their hopes on a build-up in US oil-stocks to depress prices in the coming months.
But Simmons believes surging demand will keep prices bubbling well above $50. 'We could be at $100 by this winter. We have the biggest risk we have ever had of demand exceeding supply. We are now just about to face up to the biggest crisis we have ever had,' he said.
Or not.
Hubbert Peak enthusiasts like Matt Simmons and Colin Campbell always get lots of attention from journalists who don't know much about economics or the industry when they make their predictions, but rarely do journalists ever follow up and point out that they've been getting this stuff wrong for many years.
Posted by Kevin Whited @ 12/28/05 22:39 | Other | Technorati
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Did you see the article about Rainwater?
http://www.fortune.com/fort...
Posted by Evan @ 21:11 on 12/29/05
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