We Were Wrong on Peak Oil. There's Enough to Fry Us All

'The great profusion of life in the past – fossilised in the form of flammable carbon – now jeopardises the great profusion of life in the present.' Illustration by Daniel Pudles

guardian.co.uk - by George Monbiot - July 2, 2012

The facts have changed, now we must change too. For the past 10 years an unlikely coalition of geologists, oil drillers, bankers, military strategists and environmentalists has been warning that peak oil – the decline of global supplies – is just around the corner. We had some strong reasons for doing so: production had slowed, the price had risen sharply, depletion was widespread and appeared to be escalating. The first of the great resource crunches seemed about to strike.

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