Last month Morgan Stanley projected oil will hit $150 by July 4th. Are we nudging close to peak or already on the summit of the peak.
Crude Awakening: The Oil Crash (Trailer)
It may be end of oil, but one shouldn't under estimate man-kind's ultimate weapon, "innovation". What if we crack the cold fusion, there may not be high hopes now, but practically feasible solution like combination of alternate energy and energy efficiency, may give us the breather for next break-through.