Matt Simmons

August 9, 2010 by Post Team 

Matt Simmons, Matthew R. Simmons, an energy investment banker and author of “Twilight in the Desert”, which suggests oil supplies of the Earth is decreasing, died yesterday. He was 67.

Simmons died of a sudden, “according to an e-mailed statement today by the Ocean Energy Institute, founded by Simmons in 2007 to explore opportunities for harnessing the energy from the sea. Simmons is survived by his wife, Ellen, and their five daughters.

Simmons is the founder and former chairman of investment bank Simmons & Co. International, based in Houston. He started the company in May 1974 with a focus on the oil industry and services, according to its website. In late 1981, Simmons & Co. had a staff of 13. About 17 years later, the company opened its first office outside of Houston, Aberdeen, Scotland. It has been expanded to provide research, institutional sales and investment banking in the energy industry.

“We are deeply saddened by the unexpected loss of a true visionary and friend,” said Michael E. Frazier, executive director of Simmons & Co., said in a statement. “As a central figure in the lives of many of our employees, and many others throughout the energy industry, Matt will be greatly missed. Our thoughts and prayers are with his family during this difficult time.”

Simmons founded the Institute of Ocean Energy in 2007 as a think tank and venture capital funds to U.S. offshore renewable energy, including wind energy, according to the website of that group.

On June 16, Simmons announced his retirement as honorary chairman of Simmons & Co. to focus on the Oceanic Institute of Energy. He was a frequent critic of BP Plc’s efforts to stop the oil spill in the Gulf of Mexico, suggesting at one point that the best option would be to detonate a small nuclear submarine to kill the well.

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