[hinckley buzzard]

The "Peak Oil" hypothesis does not say we will "run out of oil" in the foreseeable future. It simply says that new discoveries will at some discrete point in time fail to match consumption increases, resulting in a more or less permanent acceleration in the increase of the price.

[Brilliant]

We've already got the permanent acceleration, though. You don't need to wait until the production begins to decline.

[Dan Evans]

The "Peak Oil" hypothesis does not say we will "run out of oil" in the foreseeable future. It simply says that new discoveries will at some discrete point in time fail to match consumption increases, resulting in a more or less permanent acceleration in the increase of the price.

That reminds me of Julian Simon's bet with Paul Ehrlich in 1980. Ehrlich had been going on and on about how overpopulation was causing us to run out of resources. Simon bet Ehrlich that most commodities would drop in price not rise and challenged him to pick five items that he thought would become scarcer. Simon won the bet.