[Wonder Warthog]

"Yes, that is part of Peak Oil theory--things that affect the cost of production of oil. We can station our armies in the oilfields. The day is coming that oil will be so expensive that stationing armies will do no good."

Then thee and me have a completely different idea of what constitutes "Peak Oil". To me, "Peak Oil" means that we are actually running short of oil in the ground, which is not true, and unlikely to BE true any time in the foreseeable future. Virtually ALL of the things affecting the price of oil today have zip to do with the actual oil reserves, but political factors driving up the price or preventing access to existing reserves.

[RightWhale]

Peak Oil does not say we are running short of oil in the ground. We are running short of cheap, easy oil in the ground. Under the best circumstances we have 12-1/2 years before we fly off the cliff. If the Arabs go nuts, our time would be shortened.