We may not be doomed, but we also may not be ready for all of its effects By STEVE YETIV
Americans are feeling serious pain at the gasoline pump, and scratching their heads as to why. Part of the answer may be that we are approaching peak oil sooner than many people would have guessed. …
If peak oil is creeping up slowly, does this mean we're doomed? Well, no. But, depending on when oil does peak, it may produce some effects for which we are not prepared. Oil prices could spike possibly to more than $200 per barrel, triggering economic dislocation. Such prices will increasingly spur work on affordable alternatives to oil, as we are already seeing today in nascent form, but it will take a long time for such alternatives to penetrate the market. Our infrastructure is designed for oil. We can't switch overnight. ...
Houston Chronicle
