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I prefer the conclusions from the book I've mentioned before 'The End of Oil'
Yes ,production has probably at or about it's peak and the new field discoveries aren't enough to replenish the reserves, but there are alternatives and as technology progresses these alternatives will prove to be more and more efficient.(because they have to)
I agree we are probably looking at the end of the old energy ecomony and the transition to a new one will not be easy , but it is possible (but only if the USA play ball....for example , if the US got rid of their SUV's and reduce the average mpg by 6mpg then they could do without the Saudi reserves altogethor)
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bombholio
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