I have been studying this issue of Peak Oil for two years now in order to come to some clear concensus of approx. when it will occur and the aftershocks of it's occurance.
Two things that I personally have not seen brought up in any discussion on this issue--regardless of who is discussing the subject are:
1) It appears that there is an assumption that every producing country will produce , for world sale, every drop of oil that they possibly can. What if they do not--and why should they--saving enough to last their people many years of going without and not having to pay out large sums of money to others--makes very good sence--something I believe more and more Russia has foreseen--hence keeping it's major remaining fields away from outside interference. I would add Norway here also.
2) Heavy crude only gives us 60% of the necessary products we seek from oil as light sweet crude does. Plus it requires special refineries that right now are few and far between. So not only will the amount of oil available to the world market shrink each year but the necessary products obtained from that same oil will be much less--therefore compounding the problems ever more serverely.
Any thoughts on this......