[ISiddiqui]

Oy, this Peak Oil stuff. The basic idea is true (there will be a time where we reach a peak, etc, etc), but this catastrophe prediction is way off the mark. Remember there are PLENTY of oil reserves that we don't mine because it is not economical at the current price (well, the current price a year ago... the price is high enough now that some of those projects, like oil shale mining and offshore drilling off West Africa are beginning). Basically, we may see a peak in easily mined oil, but new technology and other reserves that will become more economical with the high oil prices is going to stave off any 'catastrophe'.. for at least the next century. And who knows, by then, we may be driving hydrogen cars.

Anyway, when technology becomes sufficiently advanced the BIG prize is in Siberia. It is rumored that there may be more oil under the permafrost than there is in the Middle East as a whole. We just have to be able to cheaply drill through the permafrost so that it is economical. New technology may indeed make it far cheaper than currently.