Energy expert Robert Rapier does an excellent job highlighting some of the problems with "peak oil" but admits resource depletion will lead us into the "Long Recession". Worth reading.
Although Rapier calls himself an optimist, here is how he views our predicament:
"I think of peak oil as supply struggling to keep up with demand, which will keep prices at recession-inducing levels. I think that we will probably eek out a bit more global production, but I will be surprised if the world gets past 90 million barrels per day. I believe that shale gas and oil sands production will continue to rise, and global carbon emissions will continue their upward march."