Hello, Peak Oil

If your eyeballs on the gas pump weren’t enough, the U.S. Department of Energy’s International Energy Outlook says, yes, Peak Oil is just around the corner. The report is significant for who’s saying it as well as what it says.

DOE’s Energy Information Agency has never signed off on Peak Oil-type predictions before. In fact, in the past, it’s been positively bullish on the medium-term future of oil supplies.

Alternative oil sources will likely exacerbate greenhouse gas issues, so more Canadian oil sands or Venezuelan tar oil isn’t a desirable answer.