Matt Simmons on the GAO Report

Watch this video clip from CNBC yesterday. This is a major media network discussing what could very well become the biggest economic threat any of us have seen in our lifetimes.   This is serious stuff, folks.  Pay attention to what Matt Simmons has to say about a potential crunch hitting the USA (and the world I expect) in late summer as oil demand is projected to surpass available supply.

“The biggest new oil basin we will find is called conservation.”

6 Responses to Matt Simmons on the GAO Report

  1. Beo says:

    Thanks Bart. I don’t hit the major media outlets, well, at all. Good to see people waking up.

  2. Bart says:

    You’re welcome!

    I’m just glad to see the word finally starting to leak out in mainstream media as something other than a kooky conspiracy theory. An attack on Iran, a nasty hurricane in the gulf, or possibly just bad economic news and we may see just how much spare capacity there is in the world…

  3. Jim says:

    Who was that other joker? While Matt Simmons was making some very relevant, lucid points, I didn’t understand what the heck the other guy was talking about. He seemed to both agree and disagree with Simmons on every point, and I have no idea what his stand was on anything.

    At any rate, it’s good to see PO in the news, but I can’t see that it’s going to have much effect. From what I’ve seen, most people like to show concern for various causes, until it becomes too inconvenient. As long as the big white truck rumbles down the alley every Thursday morning picking up the recycled plastic bottles, it feels good to be an environmentalist. But ask most of these environmentalists to quit driving so much, and you just hear a bunch of excuses.

  4. Bart says:

    The other guy was one of the oil analysts drawn from the pool of regulars, I believe. He seemed to have a handle on the economics of the situation, but definitely had the ‘deer-in-the-headlights’ look about him when discussing issues of resource depletion. In his defense, most of these guys take the DOE line that we won’t have to even worry about declines in production for another 30-40 years at least, so he was probably not prepared to deal with the topic at hand.

    What would’ve been really entertaining would be having one of the talking heads from CERA or a similar pro-industry group on there to debate Simmons. I’d pay money to see that.

    It appears that thre report has already either been squelched in most of the major newspapers, or it was just dealt with as a small AP wire story burined somewhere in the back pages of the news section. So I agree with Jim that this report won’t have a whole lot of effect of itself, though I’m sure it will be referenced when the crapola hits the fan, whenever that happens to be.

    The scope of the problem is so large, and the necessary solutions are so drastic that most people will simply ignore things until reality bites them in the ass. I’m guilty of that to a certain degree as well, for I’m doing things to reduce my dependence on oil, but am still more or less dependent on a car. So, I try my best not to preach too much, preferring to simply get the information out there so people can make more-informed choices.

  5. Dan says:

    Sadly, I came across a story on today that backs up Jim’s idea that people will make changes only up to the point where it becomes too inconvenient for them. Granted the quote refers to global warming and references the UK, but I’m willing to bet the numbers are similar to the US. “A snapshot of attitudes for the Energy Saving Trust found that while 80 per cent of the public believed climate change was affecting Britain, almost half were doing nothing to halt its impact. The Green Barometer, based on polling of 1,192 households in February, found that while many were prepared to do small things such as conserving water while brushing their teeth, most were not prepared to miss out on a foreign holiday or a plasma television. Forty per cent of people were doing nothing to use less energy, while a further 39 per cent were prepared only to make small changes. Only 4 per cent had made big lifestyle changes.”

    Not only are people not willing to make any major lifestyles changes for global warming, the appropriate reponses as to what they should do to reduce their energy use are outright ignored or at best watered down. I’m with you Bart, I know I need to reduce my footprint and can’t preach too loudly about my oil dependency, but I am slowly chipping away at it and trying to get the word out and set a good example for others. It seems only when it starts hitting more people’s pocket books or affecting them directly will they start to change their ways.

  6. Bart says:

    This is probably a subject that deserves its own post, but I think that the modern, western civilization’s lionization of self will be our downfall. Everything from our business culture, to most major forms of religion (Christianity at least) focus on individual needs over the good of society as a whole.

    Because of this, as long as there is a sizeable core of people who feel they can still prosper by following the status quo as it exists today, it will be hard if not impossible to effect major changes in how our society functions. Paradigm shifts will be much easier to do when almost everyone has been kicked out of their comfort zones.

    Even if you can’t or won’t change your personal living situation now (and that’s the situation 99.5% of the population is in), learning some critical skills now is of utmost importance..

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