Peak oil is defined as the time when the maximum production of crude oil is reached.  Some people believe we have reached this point now, and that we will be unable to increase production in the future to meet demand.  This will lead to huge deficits and large spikes in the prices of crude oil as it will become more and more expensive to drill for oil.  However, other people believe that increases in technology in the near future will lead to greater oil production that will be able to keep up for market demand, and that renewable energy sources will slowly replace fossil fuel demand.

I don’t think that we have reached the peak of oil yet because we havent started digging in Alaska yet. There are many other places in the world other than Saudi Arabia that people can get oil. I think that we should start digging for oil in Alaska and then tell the saudi arabians $2 a barrel or screw off. That will lower the price of oil and then people will start driving more often, which makes for more oil purchases. Just my opinion from what I read about it, ( my opinion cud change in the future). There’s actually a movie about the peak of oil and about the suburbs and such. If I can find the title of it, I’ll post it here in a bit.

I personally really don’t hope so. Paying for gas right bow is rediculous.
But I know my dads oil and gas doesn’t think so. There is still so much more places to drill oil.
Its just a matter of time. We may have hit a block right now but I think it’ll grow somehow.
One or two big things could change things around. I hope. With estimated gas prices of 2$ a litre next year as an estimate is just rediculous.