Originally Posted by Buster Hyman
MOR I didn't see the show but, from what I've read, the problem is not that the oil has run out, it's more that the
easy to extract oil is running out. The
hard to get stuff is still there, but it costs a hell of a lot more to get.
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From what I understand of the peak oil theory, this is the reason why it will all come unstuck. Items normally requiring transport/heat/whatever will become so rediculously expensive that they will cease to exist as will all transport and related things. There will still be Oil but it is be like Diamonds. The Peak Oil theory also assumes that nothing changes in usage and needs. Pretty flimsy theory but a good read none the less.