Quote from Arnie:
In theory, peak oil sounds plausible. In reality it will not happen...i.e. we will not "run out" of oil anymore than we ran out of whale oil during the 1800's.
In fact, I would be willing to wager that in 10 years, proven reserves will be higher than they are today.
So how much do we consume every year, and how much do we discover each year? How large are current proven reserves? How much of that is economically viable?