Even though customers seem to have forgotten high gas prices, Matt Simmons, author of Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, hasn't. In fact, Simmons, speaking on The Financial Sense Newshour with Jim Puplava, doesn't think the recent, somewhat staggering drop in oil prices will last very long. The market is tight as a drum, he says, and that means prices at the pump will jump up again soon.
His reasoning is simple: energy demand is ever increasing, the energy infrastructure is not capable of handling this demand, so prices will go up. There are people who will disagree with him, but Simmons says the myth that the Middle East has unlimited amounts of oil and would continue to be a cheap oil source needed to be dispelled a three decades ago. Once you realize this, he says, and look around the world for other sources of oil, it's easier to realize that Peak Oil is coming.

You can read the interview transcript here or listen to the MP3 file here.

[Source: Financial Sense Newshour via B100Fuel]

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