As Dreamtwister suggests, bugout time is nigh.
Rice started getting expensive, with some spot shortages. People started hoarding rice. All as predictable as night following day.
Now, as the Yergins of the world get on the peak oil bandwagon, what happens? The expectations shift. Whereas the consensus was that oil would go down, now it will begin its shift to an expectation of increase.
So - any user (or group of users, such as a nation) will begin to horde. After all, whatever price we pay today will be a pittance to what we will pay tomorrow. Plus, we may not be able to get any tomorrow.
Said hording will cause a price spike. Only it will look more like a parabolic curve; price predictions are pointless. This will result in irrational behavior by the politicians.
I wonder how people will react to $10 gas? I had thought it would be several years....