I expected this to be a hot-topic.
Here's peak oil in a paragraph. (doomer scenario)
Peak oil - The global mid-point of oil production.
We are at or past the "peak" and now we are on a decline. Alternative energies don't seem to work (only locally) and the economy is going to collapse soon; the 1st world countries will be hit the hardest especially America. The Earth has an estimated carrying capacity for 2.5 billion humans. There are almost 7 billion on the planet because oil has allowed us to exceed that capacity. There will be a die-off either slowly or abruptly. The most popular estimate for gas to hit $150 / barrel (in America) is '09-'12.




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