Chart from an interview with Matt Simmons, who “has been an investment banker for 40 years. He is the founder and chairman of the world’s largest energy investment banking company, Simmons & Co. International. In 2005, he published ‘Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy,’ a book that has galvanized the peak oil debate.”
The production curve hasn’t rolled over yet, but when it does, oil production will start declining. Simmon’s primary point is that nothing, no new production or technology, will get us back to the peak again.
Hybrid cars are one solution here, as they will cut demand for oil once widely used. Instituting workable mass transit in as many areas as possible is another. In other words, solutions do exist. We just need to implement them.