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This article was distributed to the Post Carbon Toronto group. It should be something our members at VV are also aware of:

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Comment by Randy Chatterjee on February 9, 2011 at 10:12am

Thanks, Brennan.  2020 is close enough, but this more clearly puts the IEA Chief Economist in the pre-2020 camp for Peak Oil.  The article smartly ends with Jeremy Leggett, convenor of the UK Industry Taskforce on Peak Oil and Energy Security, stating that we are "choosing to ignore a threat to the global economy that is quite as bad as the credit crunch, quite possibly worse."  

It is far worse.  Petroleum is an efficiency multiplier of monumental power.  It is literally the fuel of most of our economy, while money is the grease.  Engines can run for a short time without a lubricant, but they stop dead without fuel.

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