Crude today is dirt cheap: Matthew Simmons
Bob Morris @ Jun 30th 2008 01:35 - Category: Unfiled Tags: oil prices
Matthew Simmons is founder and CEO of Simmons and Co, an investment bank to the energy industry.
He says the Tata Nano at $2400 is the future of cars, that the US needs to get off its ravenous appetite for oil now, and that the primary driver of high oil prices is increasing demand and declining supply.
As for those evil speculators.
Speculators are mostly betting that crude will soon crash, so I suspect this group of investors is net short, and if they are banned from speculating, oil prices will jump higher.
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