Simmons on CNBC

It is quite frightening to hear this stuff, but there it is. Simmons may be wrong, but if he is not - and I believe he is not, then we need to make some lifestyle adjustsments now while we still have a choice.

"'Unless we have a very severe meltdown in the global economy, I think we would be better off assuming that China and India are going to lead the way of the developing countries starting to behave more and more like Japan did in the '50s and '60s,' he said.

'If that happens, then we need to be prepared for for one of two things: either bringing on supply to the tune of a new North Sea every two or three years — which is impossible — or watching demand outstrip supply. And finally we [will] create shortages that literally create a run on the energy bank, just like we had a run on Bear Stearns.'"
'Peak Oil' Debate - Oil and Gas * Energy * News * Story - CNBC.com: