The story says: "Mr Wagoner cited US Department of Energy figures that showed the world was using about 1000 barrels of oil every second and demand was likely to increase by 70% in the next 20 years." The direct quote from Wagoner is, "There is no doubt demand for oil is outpacing supply at a rapid pace, and has been for some time now .... As a business necessity and an obligation to society we need to develop alternate sources of propulsion.
That ain't peak oil, folks. Oil may or may not peak anytime soon, but the surging demand is going to drive prices up either way. Automakers have to adjust to that reality.
To the credit of this publication, someone called them on the misleading lede earlier and they cover it in an "editorial note." Read to the bottom.
So, you don't think Jorge begging the Saudis to pump more oil is the answer? /sarcasm off
You’re right, I would add however that the surging price is going to drive the use of alternatives and the development of even better alternatives. My guess is TDP (thermal deploymerization) is going to become very well known, especially in conjunction with sewerage and waste processing. Diesel can be from many sources.
“Peak Oil”, economically, doesn’t even make sense.
If demand exceeds supply, prices go up, reducing demand, and increasing the incentive to find more (increase supply).
Oil may have “peaked” its production AT THE CURRENT PRICE, but there exists NO absolute “peak”.