Peak Moment 130: Oil and Gas — The Next Meltdown?
Drawing parallels with the current financial meltdown, Matthew Simmons, the CEO of Simmons & Company International, expresses his alarm about gasoline stocks being the lowest in several decades and refinery production down following recent hurricanes. He warns that if there were a run on the "energy bank" by everyone topping off their gasoline tanks, the U.S. would be out of fuel in three days, and grocery shelves largely emptied in a week. In an interview plus excerpts from his presentation at the Association for the Study of Peak Oil (ASPO-USA) conference on September 22, 2008, Matt highlights the risks and vulnerabilities in the finished oil products system, and answers audience questions.
This is the first of several Peak Moment Conversations videotaped at ASPO-USA 2008. Coming: peak oil-savvy financial consultant Jim Puplava of Financial Sense, and Randy Udall, energy analyst and co-founder of ASPO-USA. (http://www.simmonsco-intl.com, http://www.aspo-usa.com). DVDs of the entire conference can be ordered through ASPO-USA at http://www.regonline.com/Checkin.asp?EventId=662327. Produced October 2, 2008. Episode130.