| Matthew R. Simmons | |
|---|---|
| Born | Matthew Roy Simmons April 7, 1943 Kaysville, Utah, U.S.[1] |
| Died | August 8, 2010 (aged 67) North Haven, Maine, U.S. |
| Occupation | Investment banker, author |
| Religion | Mormon[2] |
| Spouse | Ellen Christine Loungee[3] |
| Children | 5 daughters |
| Parents | Roy William Simmons & Elizabeth Ellison[3] |
Matthew Roy Simmons (April 7, 1943[4] – August 8, 2010) was founder and chairman emeritus of Simmons & Company International, and was a prominent advocate 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. He was, up until his death, a member of the National Petroleum Council and the Council on Foreign Relations.
Simmons, who lived in Houston, Texas, died at his vacation home in North Haven, Maine, on August 8, 2010, at the age of 67.[5][6] The cause of death was ruled "accidental drowning with heart disease a contributing factor". [7]
Simmons was the author of the book Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, published in 2005.[6] His examination of oil reserve decline rates helped raise awareness of the unreliability of Middle East oil reserves. He gave numerous presentations on Peak Oil and water shortages.[8]
Simmons believed that the Club of Rome predictions are more accurate than usually acknowledged.[9]
Simmons was the founder of the Ocean Energy Institute in Maine. His vision was to make Maine a leader in energy from offshore wind and ocean forces.
Contents |
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.
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 would be at least $200 per barrel (in 2005 dollars).[10] Simmons would have lost this bet by a very wide margin: 2010 average oil prices did not even reach $100. A factor in this, however, was that the world-wide economic collapse created demand destruction that greatly decreased the demand for oil causing prices to fall. The decline in price is evidence supporting some critics who contend that Simmons' theories did not take adequate account of economic effects on the oil supply. However, his theories about the difficulties in increasing (or maintaining) production levels have not yet been disproved.
The Institute researches and develops energy sources from the oceans such as wind energy and tidal energy. [3]
Simmons made contributions to the films Peak Oil – Imposed by Nature, The 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
Simmons made several controversial comments and predictions regarding the Deepwater Horizon oil spill and BP's solvency, including:
The Guardian reported that Simmons was mentioned in a leaked U.S State Department cable dated November 2007:
COMMENT: While al-Husseini believes that Saudi officials overstate capabilities in the interest of spurring foreign investment, he is also critical of international expectations. He stated that the IEA's expectation that Saudi Arabia and the Middle East will lead the market in reaching global output levels of over 100 million barrels/day is unrealistic, and it is incumbent upon political leaders to begin understanding and preparing for this "inconvenient truth." Al-Husseini was clear to add that he does not view himself as part of the "peak oil camp," and does not agree with analysts such as Matthew Simmons. He considers himself optimistic about the future of energy, but pragmatic with regards to what resources are available and what level of production is possible. While he fundamentally contradicts the Aramco company line, al-Husseini is no doomsday theorist. His pedigree, experience and outlook demand that his predictions be thoughtfully considered. END COMMENT.[16]
Simmons’ lifeless body was found August 8, 2010, in his hot tub.[17] An autopsy by the state medical examiner’s office the next day concluded that he died from accidental drowning with heart disease as a contributing factor. [18] Many conspiracy theorists believe Simmons was killed for his views on the "cover up" concerning both B.P.s' and the U.S.A's deception about the Gulf oil spill, claiming it had never really been cleaned up nor the leak ever stopped.
|
|||||||||||||||||||||||||