What is your opinion on global peak oil?

The United States' oil production peaked in 1971 when we produced 10 million barrels a day. Since then, we have never been able to produce that much. And that's when we had to start importing oil.

The world reached peak oil production in 2006 at 70 million barrels a day. And as the economies of India and China grow and start to demand the prosperity that the United States has had since the end of World War II, there won't be enough oil to go around. And the price of oil will only go up. Oil today is 90 dollars a barrel. In 2008, after oil prices crashed, it was 35 dollars a barrel. Don't be surprised to see the price of oil up to 100 dollars a barrel this or next year.

When oil prices go up, everything that uses oil in it's production or distribution goes up too. The fuel for trucks, planes, and cars all use fuel made from oil. Plastic bottles, bags, and containers are all made from oil. Everything that's plastic is made of oil. When the price of oil goes up, the price of everything goes up.

We'll never run out of oil. It'll just get really expensive.

We'll not hit it for quite some time because we have stopped drilling after the BP fiasco. It is sort of like asking a Park Ranger "how many hidden caves are there in the Lassen Volcanic Monument?" and the Park Ranger says "why, 15 to be exact!"