Simmons Takeover Ends 41-Year Run for 'Peak Oil' Dealmaker
- Piper Jaffray to buy Simmons for energy industry dealmaking
- Firm founder Matthew Simmons was leading "peak oil" advocate
This article is for subscribers only.
The takeover of Simmons & Co. by Piper Jaffray Cos. marks the end of an energy industry dealmaker founded by one of the leading champions of the “peak oil” theory, Matthew R. Simmons.
Simmons was best known for his claim that the Earth was running out of crude, promoting the idea that world oil reserves were peaking in a 2005 book called “Twilight in the Desert.” He died at 67 in August 2010, on the eve of the U.S. shale boom that sent the nation’s crude output to the highest level in four decades.