John Hofmeister, the Houston-based president of Shell Oil's U.S. operations, expressed doubt about the validity of peak oil theory in an appearance on CNBC's Squawk Box show.
"The peak oil theory has really swamped the world. God bless Matt Simmons," Hofmeister told CNBC anchor Carl Quintanilla, according to a transcript provided to WND by CNBC. "His assumptions are correct based on his hypotheses, but his hypotheses are too narrow."
Matt Simmons, a Houston-based investment banker who specializes in the energy industry, is widely known for his 2005 book, "Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy," in which he analyzed oil depletion data from Saudi Arabian wells...
No comments:
Post a Comment