Has the world reached economic peak oil?

[gyroscope]

2. the era of cheap oil is coming to an end.

the world's supply of easy conventional crude is nearly depleted. in a few years, what we'll have left is only the shale oil found in the tar sands and in the deep oceans, the kind of low quality oil which is dirtier and more polluting, much harder to extract and much more costly to mine. just a matter of time before oil prices begin to double again. that we are already well into the phase of mining for shale tar sand oil should be an indication of the desperation to keep the oil flowing, like a crack addict looking for his last fix. the era of cheap oil is coming to an end.