[dwharrison]

All the assumptions underlying the "Peak Oil" theory have been invalided by new technology.

Eventually we'll get there, but not this century...and possibly never if non-petroleum energy sources are developed between now and the end of the century.

Remember, petroleum was the answer to the "Peak Oil" problem of the 1840's & 50's.

We were running out of whale oil...and the solution wasn't more efficient ways to hunt and kill whales (though that did extend the life of the industry by a couple of decades). The solution was an entirely new energy source.

Petroleum will undergo the same transition...and the new recovery technology has bought the world a few additional decades to find that solution...

[Dylan16807]

"Peak Oil" just says we stop mining as much oil with a certain graph shape, not that the world ends. Transitioning to a new energy source is compatible and preferable.

[xrange]

>not that the world ends

Lexcorvus and I apparently have similar memories, because my recollection is that all the articles discussing peak oil had a mandatory section predicting the eminent demise of Western Civilization (and quite a large percentage were giddy at the notion).

[vonmoltke]

IIRC, the fearmongering was based on the idea that the world's consumption of oil was continuously increasing. Thus, if supply stopped increasing Bad Things would happen because it would put the brakes on society.

[Dylan16807]

That's just journalism being journalism. Plus, it was harder to see what could replace a significant fraction of oil before solar and battery prices dropped so much, and uncertainty and lack-of-planning is worth some worry.