An important report has just come out of the International Energy Agency. The peak of oil production (commonly known as peak oil) has been reached, and annual oil production will be dropping by 6.4% - 9.1% a year from now on. 
If you're dependent on a car, start getting ready to not being able to use it as much.
http://www.bloomberg.com/apps/news?pid=20602099&sid=arn1g3qUqKAI&refer=energy
Annual production is set to drop by 9.1 percent in the absence of additional investment, according to the draft of the agency's World Energy Outlook obtained by the newspaper, the FT reported. Even with investment, output will slide by 6.4 percent a year, it said.
The shortfall will become more acute as prices fall and investment decisions are delayed, the newspaper said. The IEA forecasts that the rising consumption of China, India and other developing nations requires investments of $360 billion a year until 2030, it said.
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