The Oil Drum

21 comments on Straining To Keep Up

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geewiz on October 22, 2005 - 6:27pm

very interesting indeed! I see prices dropping at the pumps too, i am not seeing any changes in driving habits either. And the sheeple have seen gas go up before, and they have seen it go back down. But, while prices are dropping, the news media (mainstream) is starting to pick up on energy news, from CNN to Fox. Any business finance channel like bloomberg or CNBC are reporting prices and mergers or other oil and gas related infot, but not production data, However, the media knows the potential impact they share on professing any gloom and doom scenarios regarding energy, so they will continue to soften the blow with their choice of words and downplay energy importance till one day, someone will switch gears from "everythings just fine" and say "we have a big big problem". And it won't come from Matt Simmons. I am begining to think Matt is right, but why would he set a specific target price? rather than a price range?

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Heading Out on October 22, 2005 - 10:29pm

To be fair, in his latest comment I believe he said something along the lines of expecting prices to double or even treble and since MSM gloms to the worst they did the treble multiplication for him. It made for a more dramatic headline.

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peakearl on October 23, 2005 - 12:24am

If anyone can find where Simmons has made a specific price prediction, please show me. I keep seeing people claim this, but I have never seen him make a firm prediction, just express possible prices in the event of certain situations. Thanks