January 2 (Bloomberg) — Matthew Simmons, chairman of Simmons & Co. International, and Jan Stuart, oil economist at UBS AG, talk with Bloomberg’s Pimm Fox about crude oil’s rise to $100 barrel today, the outlook for oil prices and prospects for alternative energy. Oil rose to $100 for the first time in New York as record global fuel consumption threatens to outpace production.
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Hemp for victory !!! 10% of food crop space would power america? why are we allowing our country to slowly degrade into a third world level? And now L.E.A.P. is questioning our methods against the drug concept… I truly want to understand so i can feel like patriot.
hit a 132.95 today. yikes. whats all this about George Reisman?
did he say a rising price of oil equals a rising gdp (0826min); is this for oil exporting countries only?
i think the biggest problem is susbituting oil for something else, i mean i lived in japan and there are trains everywhere; i mean.. you could prooly count on one hand how many trains r in north america. i feel bad inside 4 that; we were given everything and now we can’t let go of it.
It would be interesting to watch a debate between Peter Schiff and Matt Simmons on the inflation vs. supply/demand pressures on oil prices. Peter’s argument that oil is only 10% more expensive over 30 years, when priced in gold, holds water, but peak oil may put additional pressure on prices as per supply/demand.
Guess not, eh?
It is kind of scary that someone from UBS appears to know very little about the connection between energy and economic growth. This is why I know longer trust anybody with my investments.
Just read Reisman’s “Mining….”. He should stick to economics, what he knows best. REALLY IDIOTIC!
George Reisman is an idiot.
there’s enough oil and other natural
sourches for AT LEAST the next MILLION year.
Just google for “Mining for the Next Million Years by George Reisman”
Eyh! Matts lump-dinosaur is up and going again!
Don’t worry.. Oil will be $110 next week.
You’re a fool.