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I think it is intuitively obvious that since we are rapidly consuming a finite resource we will eventually see peak production and will eventually run out.
But I dont' think we will see the catastrophic consequences predicted by the 'peak oil crowd' either.
I think that as oil continues to become more expensive we will be forced to explore the other viable options to oil that are available to us.
I think we will simply shift from an oil based economy to something else... but we won't do it until we no longer have any choice.
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"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery." - Winston Churchill
"All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act out their dream with open eyes, to make it possible." Seven Pillars of Wisdom, T.E. Lawrence
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