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THE RISK OF MISJUDGING PEAK OIL:
Event
Houston Energy InstituteHouston, TX
ocaonDateBy:Matthew R. Simmons, ChairmanSimmons & Company International
,By:Matthew R. Simmons, ChairmanSimmons & Company International
Causality Chickens And Eggs:
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Oneofmosterlexinuestionsoftenaskedis:
–Which happened first to trigger change? –Did the chicken come before the egg?
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The BIG issues today:
–Financial meltdown: Was it artiallcaused by high oil prices? –Oil price collapse: Was it partially –Could the two have been “Jupiter and Venus?”
Financial Tremors Shook
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Sub-rime mortae crisis was earl tremor:
–Bear Sterns:1st casualty –AIG/Lehman:2
nd
casualties –Freddie Mac:3
rd
casualty
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Aftershocks:
–Merrill –Wachovia –UK Banking System
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2
nd
tremor:
–
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Paper crisis can spread like wildfire (and did).
■
u, paper crss can e ouse w morepaper.
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