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August 9, 2010

Matt Simmons dead -- predicted oil crash

matt simmons twilight in the desertFinancier Matthew Simmons, who caused a stir with his 2005 book "Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy," has died. He was 67.

Simmons, an investment banker specializing in the energy industry, theorized that Saudi Arabia's oil reserves were overestimated, oil production had peaked and we were in for a rude shock when the pumps started going dry. (There was no mention of Bella or vampires, which may explaing why the book's popularity waned.) In recent years, he focused on wind and other alternative energy sources.

Even though the mideast oil supply keeps going, Simmons' dire prediction may have helped Americans realize that it was time to start developing alternatives, and changing their lifestyles by conserving and recycling. Not a bad legacy.

Posted by Dave Rosenthal at 2:04 PM | | Comments (0)
        

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About the blogger
Dave Rosenthal came to The Baltimore Sun as a business reporter in 1987 and now is the Maryland Editor. He reads a wide range of books (but never as many as he'd like), usually alternating between non-fiction and fiction. Some all-time favorites: A Confederacy of Dunces by John Kennedy Toole; Wind, Sand and Stars by Antoine de Saint-Exupery; and anything by Calvin Trillin or John McPhee. He belongs to a book club with a Jewish theme.
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