Let's Just Declare the End of Peak Oil/Asininity
Tim Worstall in The Telegraph:
"Even if we accept the geological conventional wisdom [of Peak Oil], then there's still no cause for panic. Prices will rise, yes, so people will go off and do other things. Either use something else instead of oil (that ever cheaper shale gas for example) or simply doing things that require less energy. That's what a price system is for, after all, providing the signals that a certain resource is in scarce supply.