‘Get serious’ about oil shock

The appearance of $3 gas in the wake of Hurricane Katrina last year showed the tenuous U.S. hold on plentiful and cheap fuel.

The worst of it, however, was soon over, and prices declined.

But what if there were a sharp shortfall in oil supplies that was permanent instead of lasting just a few weeks or months? An event so far-reaching that it could transform the American way of life and much of the world economy?

Matthew Simmons has a message for you: Count on it.

( Full story here )