"Gasoline Prices are not high enough"; World Energy TV Interviews Matthew Simmons, author of "Twilight in the Desert"

Business Wire, June 30, 2008

HOUSTON -- World Energy Source's World Energy Television -- Amidst skyrocketing oil prices, considerable financial activity in the oil market, and increased gas prices, producing and consuming nations alike are concerned about efficiency and supply. World Energy Television, recently spent an afternoon with Matthew Simmons, chairman of the energy investment firm Simmons & Company International and author of Twilight in the Desert: The Coming Saudi Oil Shock, to hear his perspective on oil supplies, pump prices, distributed generation and strategies to move us forward.

Oil prices have been too low for too long, he says. "The problem isn't that the prices are going up, it is that they have been so low for so long that we have been caught in a correction," explains Simmons.

The interview - which is available on cable stations across the country and at www.WorldEnergySource.com/wetv/energycrisis/ - features World Energy CEO Richard Loomis interviewing Simmons to solicit his opinion of America's energy strategy, or lack of.

The problem, notes Simmons, is not strategy; it is having a game plan for execution. In the interview, Simmons focuses beyond "peak oil" and looks at the immediate nature of the energy situation, examining both near-term solutions and long-term ones.

Focusing on renewable sources, Simmons points out the current production from these sources is roughly 1.50 percent, but that 1.50 percent is nonetheless a significant contribution. He then explains the actual potential to be unlocked in energy produced from wind and geothermal and the importance of distributed generation.

"For those in the industry, Matt is seen as one of the top experts in the field," commented Loomis. "For anyone looking for straight answers, Matt is one of the few unbiased sources for information related to the very issues facing our country and the planet."

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