Sys - "Peak oil crashed the economy back in 2008." Global oil production was around 82 mm bopd in 2008 according to the EIA. Today it exceeds 92 mm bopd.
So PO in 2008???
Peak of light sweet crude was in 2005. It was the reason why oil reached 150$ just before the global economic crash of 2008.
Expensive oil meant central bank increased their rates and customers with derivative crédits could not pay any more their mansions. As subprime guarantee for banks came from the mansions themselves, so it was a game over when the marked was flooded with this real estate tsunami. When this Ponzi scheme collapsed, it was bought by nations who were afraid of say... 1929, world war 2... you get it
We shifted from a private debt to national debt, with banks asking the very countries who saved them to destroy public services and to do more for neoliberalism.
Now back about oil : If you count all the dirty shit out there, you can also add coal, oil sand or whatever (even rainforest)as "oil". The reality is that we have already peaked, we are now burning the bad stuff. Bad stuff means bad EROEI and lot of CO2/CH4 put in the atmosphere to obtain the same energy.
I saw the storm coming back in 2005 and choosed a job and a social position to save my ass. Nevertheless, I know that I won't escape indefinatally from a global situation getting worse and worse.