I recall a time when the topic of "Peak Oil" was derided as crankery.

[Boston_Chemist]

Refreshing to see people embrace science and common sense.

[4dsc]

1. Most are still in denial

Don't worry about a small group of peak oil supporters here its the bigger crowd at the DU that are still resistant to the message. Most people would rather live in denial than to realize the future is one that's going to be lived with less oil, a lot less oil.

[Kennah]

2. I think Peak Oil does not always message well

When a friend of mine passed along a Peak Oil reference, I initially derided it. Being always curious I investigated and discovered a very simple, plain truth about Peak Oil.

Peak Oil is simply the point at which the maximum rate of production is reached and market demand exceeds that rate of production. When it will happen, unless it has already happened, can certainly be debated and discussed; however, the concept is undeniable if one grasps even the basic economic principles of supply and demand.

Now, there are loons who say the Earth is only 6-10K years old and Gawd is immaculately conceiving new coal and oil in the ground all the time, but aside from them it's difficult to deny it will eventually happen, if it hasn't already.

[Boston_Chemist]

3. Oil reserves are a state secret in many (if not all) OPEC countries.

It is completely justified to question why this is, as this information is absolutely essential when doing real-world things, such as investing in the markets. This is not about indulging in a little bit of constructing 'alternative realities', but is more about not being turned into a victim.

[4dsc]

4. Denial comes on many forms

While they may keeps secrets in the middle east they cannot lie about overstating their reserves. Remember that current figures being used for oil reserves haven't changed in over 20 years.

In the mid 80's all the OPEC country greatly increased their reserves without any additional finds. Now the Saudi's, after producing almost 100 billion barrels over the past 20 years still list as their reserves about 260 billion barrels.

And lets mention that most oil field reserves were known when they were first discovered back in the 40's and 50's before they became state secrets.

For your reading pleasure: http://www.guardian.co.uk/business/2011/feb/08/saudi-oil-reserves-overstated-wikileaks

US diplomat convinced by Saudi expert that reserves of world's biggest oil exporter have been overstated by nearly 40%

[guthenson]

5. Mathematically...

There is a finite amount of oil, so it only makes sense that if we keep using it long enough, we must reach some point were we can't keep increasing our use of it.

That being said, I think the exponential increase in solar and wind power may end up causing peak oil to become a moot issue - at least I hope that's what will happen.

Of course even solar and wind can't keep growing forever.

[4dsc]

6. Solar and wind are not a substitute for oil

and that is the crux of the problem. We are an oil based society so as oil goes so will our economic livelihood.