Responding to the challenge of Peak Oil.(prices move upwards)

Canadian Dimension, July, 2006 by Heinberg, Richard

Over the past two years the price of oil has climbed relentlessly. This is true not just of the volatile spot price, but also of the five-year futures price, which for many years held reliably close to the U.S. $20 mark. At this time of writing, both the spot and futures prices are near $70. North Americans know that this translates to high gasoline prices, and, since they can scarcely live without their cars, many are worried and angry.

During these same two years, a small segment of the public has become aware of a phrase--"Peak Oil"--that both explains the recent price hikes and puts them in a broad historic context.

Those who "get" Peak Oil typically experience a profound paradigm shift--a reorientation of their thinking about the world. At the...

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