Matthew Simmons

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Matthew Roy Simmons (April 7, 1943 - August 8, 2010) is the founder and chairman of emeritus of Simmons & amp; International Company, and is a leading figure in peak oil field. Simmons was motivated by the energy crisis of 1973 to create an investment banking company serving an oil company. He served as an energy adviser to US President George W. Bush and members of the National Oil Council and the Council on Foreign Relations.

Simmons, who lives in Houston, Texas, died at his home in North Haven, Maine, on August 8, 2010, at the age of 67. The death was ruled "accident drowned with heart disease as contributing factors".

Simmons is the author of the book Twilight in the Desert, published in 2005. His examination of the rate of decline in oil reserves helped raise awareness of unreliable Middle East oil reserves. He gave many presentations about the shortage of oil and water.

Simmons believes that the Rome Club's report, Growth Limit, is more accurate than is usually acknowledged.

Simmons is the founder of the Ocean Energy Institute in Maine. His vision is to make Maine a leader in energy from offshore winds and sea troops. The Ocean Energy Institute ceased operations in 2011.

Video Matthew Simmons

Saudi oil reserves

In his book, Simmons argues that the production of Saudi Arabia and especially of Ghawar - the world's largest oil field - will reach its peak in the near future, if it has not already done so. Simmons based his case on hundreds of internal documents from Saudi Aramco, professional journals, and other authoritative sources. However, by 2016, Saudi production has increased by more than a million barrels per day.

Oil pricing

In August 2005, Simmons risked John Tierney and Rita Simon, widow Julian Simon, $ 2500 each that the average oil price during the entire 2010 calendar year would be at least $ 200 per barrel (in 2005 dollars). Simmons will lose this bet by a very wide margin: the average price of oil in 2010 did not even reach $ 100. The worldwide economic collapse created a crumbling demand that greatly lowered the demand for oil, causing prices to fall.

Maps Matthew Simmons

Appearances and interviews

Simmons makes contributions to the movies Peak Oil - Imposed by Nature , Community Power: How Cuban Ends Up Oil Peak (2006), Edge of Suburbs , and Crude Awakening: The Oil Crash , and appeared on World Energy Television Interview Video World Energy, August 2008

During a June 9, 2010 interview with Fortune, Simmons claimed that BP would "have about a month before they claim Chapter 11".

On June 9, 2010, Simmons was interviewed by Barron journalist Tieman Ray. Simmons revealed that he personally holds 8,000 shares of short positions in BP shares. As BP's share price weakened, Simmons made financial gains amid bankruptcy fears.

During July 7, 2010, an interview on CNBC Simmons claimed that scientists reported the flow rate from the oil spill "spewing 120,000 barrels per day into the Gulf" and that there were estimates that we had "lost oxygen for 40% of the Gulf of Mexico." He further claimed that the aid well would not stop the oil spill.

A week later, during an interview on July 15, 2010 with KPFK-Pacifica Los Angeles, Simmons confirmed that the aid well and the capping process at Macondo's wellhead were publicity stunts and that real ventilation up to ten miles (16 km) went. He said that large pools of crude oil accumulated beneath the seabed, releasing toxic gases and waiting to be whipped up by storms.

Previously, on May 26, 2010, Matthew Simmons was a guest on 'The Dylan Ratigan Show' on MSNBC, where he explained his reasons for believing that the Deepwater Horizon oil spill not only involves leakage monitored by video-equipped BP ROVs cameras operated by long distance vehicles, but others, a much larger leak, a few miles away.

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Mention of Wikileaks cable

The Guardian reports that Simmons is mentioned in a leaked US State Department cable dated November 2007:

COMMENT: Although al-Husseini believes that Saudi officials exaggerate the ability to interest spur foreign investment, he is also critical of international expectations. He stated that the IEA's hope that Saudi Arabia and the Middle East will lead the market in reaching a global output level of more than 100 million barrels/day is unrealistic, and it is the duty of political leaders to begin to understand and prepare for "this unpleasant truth." Al-Husseini clearly added that he did not consider himself part of the "peak oil camp," and disagreed with analysts such as Matthew Simmons . He considers himself optimistic about the future of energy, but pragmatically relates to what resources are available and what levels of production are possible. While he is fundamentally at odds with the Aramco line of companies, al-Husseini is not a theorist of the Day of Resurrection. His pedigree, experience, and views demand that his prophecies be carefully considered.

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Death

Simmons was found dead on August 8, 2010, in his hot tub. An autopsy by the state medical examiner's office the next day concluded that he died of accidental drowning with heart disease as a contributing factor.

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See also

• Richard Heinberg
• Jeremy Leggett
• Dale Allen Pfeiffer
• Peak oil
• Simmons-Tierney bet
• Cornucopian

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References

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Further reading

• Matthew Simmons, Dusk in the Desert: Upcoming Saudi Oil Fight and World Economy <2005/2012 ISBNÃ, 0-471-73876-X, ​​â € <â €

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External links

Articles

• Matt Simmons discusses global trends at World Energy Television Interview Video World Energy, August 2008
• Simmons investigates the latest EVWorld interview data of Matthew Simmons, February 2008.
• Matthew Simmons calls on regional oil producers to curb MEED output.
• Matt Simmons discusses global trends at World Energy Television World Energy Video Interview
• Global Crude Oil Supply: What is Near Oil Peak? World Energy Magazine , by Matthew Simmons.
• Improving Damaged Investment Research: It's Not That Hard Energy World Magazine . Matthew Simmons.
• The Case for Gas Deficiency Comes in World Energy Magazine . Matthew Simmons.
• Is the Crude Oil Price System Out of Control? World Energy Magazine . Matthew Simmons.
• The Crisis of Saudi Oil Come
• Revisiting Borders for Growth: Could Rome Club Have Been True, After All? PDF

General

• Ocean Energy Institute - Simmons' last project, intended to eventually harvest large offshore wind energy reserves from Maine, uses the synthesis of ammonia fuel to be delivered by tankers.
• "OTHER DAY IN DESERT RESPONSE AS BOOK, GLAD IN DESERT" (PDF) . Archived from the original in 2006-10-16 . Retrieved 2006-08-14 . Ã, CS1 maint: BOT: original-url unknown status (link) //Integrity in Investment Research - Jim Jarrell's critique of < i> Twilight
• ASPO USA Peak Oil conference at Boston University, October 27, 2006
• Financial Sense Newshour: Matthew Simmons, 5 audio interviews: August 6, 2005 - April 7, 2007.
• The Economist: Face Value: Review of Matthew Simmons in The Economist
• Radio Broadcast: True News Release on June 28, 2010

Source of the article : Wikipedia