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<p class=MsoNormal>From <i>Fortune, </i>with stark charts for further
edification …<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal><b><span style='font-size:26.5pt;font-family:"Times","serif"'>Here
comes $500 oil</span></b><o:p></o:p></p>
<p class=MsoNormal><i><span style='font-family:"Times","serif"'>If Matt Simmons
is right, the recent drop in crude prices is an illusion - and oil could be
headed for the stratosphere. He's just hoping we can prevent civilization from
imploding.</span></i><o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal>By <a
href="http://money.cnn.com/2008/09/15/news/economy/500dollaroil_okeefe.fortune/mailto:bokeefe@fortunemail.com;letters@fortunemail.com"
target="_blank">Brian O'Keefe</a>, senior editor<o:p></o:p></p>
<p class=MsoNormal>Last Updated: September 22, 2008: 1:12 PM EDT<o:p></o:p></p>
<p>(Fortune Magazine) -- Matt Simmons is as perplexed as anyone that it has
fallen to him to take on OPEC, Exxon, the Saudis, and all the other misguided
defenders of conventional wisdom in the oil patch. Why should one investment
banker with a penchant for research be required to point out what he regards as
the obvious - that from here on out, oil supplies can't meet demand, and if we
don't act soon to solve this crisis, World War III could be looming?<o:p></o:p></p>
<p>Why should a man who scorns most environmentalists have to argue that
locally grown produce and wind power are the way of the future? Why should a
lifelong Republican need to be the one to point out that his party's new mantra
- "Drill, baby, drill!" - won't really fix anything and that his
party's presidential candidate is clueless about energy? That the spike in oil
prices earlier this year wasn't a temporary market anomaly and the recent
retreat in prices is just a misleading calm before a calamitous storm? That
we're headed toward $500-a-barrel oil?<o:p></o:p></p>
<p>"I find it ironic that here we have the biggest industry on earth, and
I'm one of the few people to figure out that we have a major problem," he
says, in his confident if not quite brash way. "And I did it all in my
spare time. How stupid and tragic is that? I shouldn't be one of the only folks
that actually has a handful of ideas of how we can keep from blowing each other
up and get through this."<o:p></o:p></p>
<p class=MsoNormal>More here ::: <a
href="http://money.cnn.com/2008/09/15/news/economy/500dollaroil_okeefe.fortune/index.htm">http://money.cnn.com/2008/09/15/news/economy/500dollaroil_okeefe.fortune/index.htm</a>
<o:p></o:p></p>
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<p class=MsoNormal style='line-height:150%'><b><span style='font-size:12.0pt;
line-height:150%;font-family:"Malgun Gothic","sans-serif";color:black'>:::
shauna </span></b><b><span style='font-size:12.0pt;line-height:150%;font-family:
"Malgun Gothic","sans-serif";color:#365F91'>lawyer</span></b><b><span
style='font-size:12.0pt;line-height:150%;font-family:"Malgun Gothic","sans-serif";
color:black'> struby</span></b><span style='font-size:12.0pt;line-height:150%;
font-family:"Malgun Gothic","sans-serif";color:black'><o:p></o:p></span></p>
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