Peak Oil.....
 

YouTube - Matt Simmons (Bloomberg): Peak Oil Now, Oil Perhaps to $300

Sounds like this is going to be a buzz word you'll be hearing more and more of.

Clearly cheap-to-extract quality oil is running out, and it looks like prices will at some point rocket when it is decided this is only going to get worse.

When oil prices rocket we'll have hyperinflation because so much depends on oil, and it will most likely trigger a global economic slump on a huge scale.

Really all rather worrying - I think its quite shocking how we are just totally wasting the stuff at the moment too - all those cheap plastic toys from China, and Americans commuting to work in 10mpg pickups...

dont know much about economics do you....

Scoobynet is full of experts isnt it :Whatever_

Maybe true, but I'm prepared to stick my neck out and suggest that Mr Simmons knows more about economics than you do :)

"Simmons & Company is the only independent investment bank specializing in the entire spectrum of the energy industry. Founded in 1974, the firm has acted as financial advisor in nearly $93* billion of transactions, including 463 merger and acquisitions worth over $63 billion. Simmons has served as co-manager on nearly $26 billion in public debt and equity offerings. During 2006 Simmons closed 35 M&A transactions worth $8.7 billion and co-managed 19 offerings worth $6.7 billion. The firm's clients range from small, privately held companies to multi-billion dollar public entities."