Peak oil is starting to rear its ugly head

[Final-Fan]

Kyros said:

Sometimes the market just isn't able to serve a function needed by society.

Yes free after Winston Churchill: The market economy is the worst of all systems except for all the other ones.
I am not sure if the market is the best system for copying with global warming (here politicians would need to integrate carbon usage into the market with a carbon tax or whatever) but the market is PERFECT for copying with problems like rising oil prices. Attempts by politicians to solve this problem will with absolute certainty make the problem worse.
I mean you see what happens at the moment. When oil gets more scarce prices rise and companies will scramble to make alternative energy sources. No need for a doomsday scenario.

Well obviously since it's a market situation the market will adjust eventually, but the question, I think, is whether natural market adjustments are good enough as far as mitigating the impact of peak oil on the global economy and population. You have not answered this question at all. (Perhaps I'm asking too much -- none of us are experts. But in that case you should acknowledge that the question remains unanswered.)