Oil, Oil, Oil

This video was posted at Iowa Liberal of Matthew Simmons, a leading energy investment banker, discussing the high oil prices on CNBC.

The faces of the announcers while Simmons is talking is priceless. What Simmons is saying is so far out of their understanding that they don't know what to say. Simmons understands the concept of peak oil, while the announcers seem to still believe the earth has an unlimited oil supply.

Simmons flatly says that the price of oil isn't coming down and we should stop going on a witch hunt trying to find out who caused the high oil prices. He says there are no short term solutions. The solution is changing the way we are living to live more locally, limit long distance commuting, growing food locally, and increasing R&D into new technologies.