WRONG. That's what the general media that is controlling the hearts and minds of this country want you to think. Do some research. We are very far from peak oil. We may have peak oil in a couple of fields in the middle east and Mexico but not the world. Brazil just discovered 30 Billion barrels. Under northern Colorado there is over 2 TRILLION barrels of oil. In the Gulf of Mexico there are billions of barrels as in ANWAR. The problem is that we are not drilling in any of these places. Instead, our government (democrats and republicans) keep stalemating voting on these issues. So we are left prostrate taking oil from such stable countries as Nigeria, Saudi Arabia, Venezuela, etc. The sooner we drill our own oil from these places the better.

Peak oil is a myth at this time. Speculators are the reason the prices are so high. Sooner or later, the crash will happen. The question is will it happen before the entire transportation system is bankrupt and we're all studying FOMs written in German, French and Cantonese as these airlines will have bought out the carriers here.