Re: SC58

http://www.financialsense.com/editorials/casey/2008/0109.html

AN INTERVIEW WITH MATTHEW SIMMONS

Peak Oil & Beyond

...........BC: If I can just interject, when you look at the big picture, and try to get to the big numbers of 342 million barrels of oil equivalent per year from all energy types that the world will demand for its energy needs by the year 2030, you need huge increases not only in the production of oil, but you need the other kinds of energy. And you need a huge investment. I’ve seen numbers like $10 or $15 trillion in the infrastructure to get there. My question when looking at the big picture is – how are we going to fund that sort of investment?

MS: And the answer is – the odds of that happening are less than one percent. If we were lucky enough to open up the entire outer continental shelf and then we were lucky enough to invent quickly enough seismic equipment to start doing some sort of a high-grading of where we should drill, and then we were lucky enough to have a growing fleet of newer offshore rigs that could drill wells and we just discovered two new North Seas, then there’s grounds that we could basically spend four or five hundred billion dollars and maybe end up ten years from now with six million barrels a day of fresh supply. But the problem is that each one of those things that I said, ”If we were lucky enough,“ we don’t have. And to create each one of those is going to take ten to fifteen years to do. And ten to fifteen years from now, our 73 million barrels a day of current crude production could easily be down to 50 or 45. So you say even if you had another 6 million barrels per day, you can’t climb back out of the hole.............

Matthew Simmons was the energy advisor to Warmonger Bush who told him of the coming energy crisis, just before 9-11 and Bush's ensueing killing spree in the middle east all too try and take and control other countries oil reserves.