Matt Simmons Stuns His Interviewers

Literally! Watch their faces.

Thanks to Rob Hopkins (swoon) for reporting this video, and catching a salient point:

The nub of his argument is that oil is still actually very cheap, and that the biggest danger the world faces at the moment is those people who argue that the current high prices are a blip, a bubble, a speculators spike. When asked for his scenario of the next year or two, he replied that the US would keep dropping its inventories (of oil) and feeling good about it, which would be followed by a shortage, which would, in turn, lead to “a run on the banks so fast your eyes would spin. This is when everyone tops up their tank. We haven’t run out of oil, but we could literally run out of usable diesel and gasoline and then we would have the Great American Disaster, because within a week we’d have run out of food”.