This snarkiness on LBO about peak oil is puzzling to me. Of course world oil production will peak and decline; it's a nonrenewable resource. The only practical question is when this will occur. We have well verified statistical models from geologists (who have studied this stuff all their lives!) that predict that world oil production will peak within the next ten years, and then inexorably decline. Note: these are statistical models that have effectively modelled the decline in oil production in a number of nations, including the U. S. It seems to me that the irrational "millenarian theorists" are the people who pretend that oil is an inexhaustible resource, not the scientists who point out that oil is finite and (for all practical purposes) an unsustainable source of energy in industrial societies.
Miles