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Matthew Simmons

Matthew Roy Simmons (April 7, 1943[4] – August 8, 2010) was founder and chairman emeritus of Simmons & Company International, and was a prominent figure in the field of peak oil. Simmons was motivated by the 1973 energy crisis to create an investment banking firm catering to oil companies. He served as an energy adviser to U.S. President George W. Bush[5] and was a member of the National Petroleum Council and the Council on Foreign Relations.

For the TV character, see Matt Simmons (Criminal Minds).

Matthew R. Simmons

Matthew Roy Simmons

(1943-04-07)April 7, 1943

August 8, 2010(2010-08-08) (aged 67)

Ellen Christine Loungee[3]

5 daughters

Roy William Simmons & Elizabeth Ellison[3]

Simmons, who lived in Houston, Texas, died at his vacation home in North Haven, Maine, on August 8, 2010, at the age of 67.[6][7] The death was ruled "accidental drowning with heart disease a contributing factor".[8]


Simmons was the author of the book Twilight in the Desert, published in 2005.[7] 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.[9]


Simmons believed that the Club of Rome's report, The Limits to Growth, is more accurate than usually acknowledged.[10]


Simmons was the founder of the Ocean Energy Institute in Maine.[11] His vision was to make Maine a leader in energy from offshore wind and ocean forces. The Ocean Energy Institute ceased operations in 2011.[12]

Talking with 's Mark Crumpton, Lizzie O'Leary and Julie Hyman about BP's oil leak in the Gulf of Mexico, Simmons said, "If it were my family I'd evacuate now, while you still have time".[15]

Bloomberg TV

During a June 9, 2010, interview with Fortune, Simmons claimed that BP would "have about a month before they claim Chapter 11".

[16]

On June 9, 2010, Simmons was interviewed by journalist Tieman Ray. Simmons disclosed that he personally held an 8,000 share short position in BP stock. As BP's stock price went lower, Simmons was benefiting financially amid fears of bankruptcy.[17]

Barron's

During a July 7, 2010, interview on CNBC Simmons claimed that scientists were reporting the flow rate from the oil spill was "spewing 120,000 barrels a day into the Gulf" and that there have been estimates that we have "lost oxygen for 40% of the Gulf of Mexico". He further claimed that the relief wells will not stop the oil spill.

[18]

A week later, during a July 15, 2010 interview with – Pacifica Los Angeles,[19] Simmons asserted that the relief wells and the capping process on the Macondo wellhead are publicity stunts and that the real vent is up to ten miles (16 km) away. He said that an enormous pool of crude oil is accumulating below the sea floor, releasing poisonous gases and waiting to be whipped up by a hurricane.

KPFK

Previously, on May 26, 2010, Matthew Simmons was a guest on 'The Show' on MSNBC, where he explained his reasons for believing that the Deepwater Horizon oil spill involved not only the leak being monitored by BP's video-camera-equipped ROVs remotely operated vehicles, but another, much bigger leak, several miles away.

Dylan Ratigan

Wikileaks cable mention[edit]

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.[20]

Death[edit]

Simmons was found dead on August 8, 2010, in his hot tub.[21] 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.[22][23]

Richard Heinberg

Jeremy Leggett

Dale Allen Pfeiffer

Peak oil

Simmons–Tierney bet

Cornucopian

Matthew Simmons, 2005 ISBN 0-471-73876-X, The book has been translated into German and Chinese.

Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy

– Simmons' last project, intended to eventually harvest massive reserves of wind energy offshore from Maine, using synthesis of ammonia fuel to be shipped by tanker.

Ocean Energy Institute

(PDF). Archived from the original on 2006-10-16. Retrieved 2006-08-14.{{cite web}}: CS1 maint: bot: original URL status unknown (link) // Integrity in Investment Research - Jim Jarrell's criticism of Twilight

"ANOTHER DAY IN THE DESERT. A RESPONSE TO THE BOOK, TWILIGHT IN THE DESERT"

ASPO USA Peak Oil conference at Boston University, 27 October 2006

: Matthew Simmons, 5 audio interviews: 6 August 2005 – 7 April 2007.

Financial Sense Newshour

: Review of Matthew Simmons in The Economist

The Economist: Face Value

: True News broadcast on June 28, 2010

Radio Broadcast