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Matthew Simmons |
 |
| Occupation |
Investment banker, Author |
| Children |
5 daughters |
Matthew Simmons, chairman and CEO of Simmons & Company
International, is a prominent oil-industry insider and one of
the world's leading experts on the topic of peak oil. Simmons was motivated by the 1973 energy crisis to create an investment
banking firm catering to oil companies. In his previous capacity,
he served as energy adviser to U.S. President George W.
Bush.
Matthew Simmons believes the Club of Rome predictions are more accurate
than usually acknowledged [1].
Simmons is an advisor to the Oil Depletion Analysis
Centre. He is a member of the National Petroleum Council
and the Council on Foreign
Relations. He believes a careful assessment of Saudi Arabian oil reserves
is the most significant issue shaping petroleum politics.
Simmons is the author of the book Twilight in the Desert:
The Coming Saudi Oil Shock and the World Economy. His
examination of oil reserve decline rates helped raise awareness of
the unreliability of Middle East oil reserves as the published reports have
never been verified.
Saudi
Arabian oil reserves
In his book, Simmons argues that production from Saudi Arabia, and
especially from Ghawar, the world's largest oil field, will
peak in the near future, if it has not done so already. Simmons
bases his case on hundreds of internal documents from Saudi Aramco,
professional journals, and other authoritative sources.
"Twilight in the Desert" has been criticized for "turning benign
technical matters into crisis-level evidence" and making "numerous
technical gaffes", such as misinterpreting fuzzy logic as meaning "fuzzy numbers",
"dew point" as meaning the pressure that a well stops producing,
citing obsolete data on water cuts, and assuming that a pressure
drop in a vertical wells has the same implications as in a
multilateral well. He is also accused of ghost references and
misrepresenting sources.[1]
Oil price
wager
In August 2005, Simmons bet John Tierney and Rita Simon,
the widow of Julian Simon, $2500 each that the
price of oil averaged over the entire
calendar year of 2010 will be at least $200 per barrel (in 2005
dollars). This wager has been dubbed "The Simmons-Tierney Bet." [2]
Appearances
Simmons has made contributions to the films *PEAK OIL - Imposed by NatureThe Power of
Community: How Cuba Survived Peak Oil (2006), The End of Suburbia, Crude Impact,
and Crude Awakening: The Oil Crash, and appeared on *World Energy Television
World Energy Video Interview, August 2008
Further
reading
- Matthew Simmons, Twilight in the Desert: The Coming Saudi
Oil Shock and the World Economy 2005 ISBN 0-471-73876-X, The
book has been translated into German and Chinese.
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