Brilliant response by Rob Hopkins of Transition Culture to George Monbiot’s recent claim that were were wrong on peak oil.
"The “we were wrong about peak oil” argument only really works as something to get excited about if you are a cornucopian who also believes that free market economics and deregulation is the key to economic growth and prosperity. It also helps if you believe that climate change is a scam…"
3eintelligence.wordpress.com 
It is very simple all about supply and demand, if the price gets too high we will not pay the price and will find something else.
Oil is a commodity like sugar, cofffe, gold etc.etc. there is plenty and it will never run out.
Dear Alan,
Peak oil is not about running out of oil. Of course, the planet will NEVER run out of oil just as the world never ran out of stones. But the problem is that it has already become uneconomical to keep relying on fossil fuels. It is the high price of oil which crashed the debt economy and which is now leading to the great Depression.
Furthermore, blowing more carbon dioxide in the air will lead to more extreme weather events such as those now seen in Russia and the US.
As for supply and demand, that only works when the market is really free and not rigged by vested interests of the fossil fuel companies. If the market really worked as free as it should we would have started our descent from fossils in the seventies and we would now have a solar and circular economy.
Peak oil is about all that, not just about physical amounts of the stuff.
Dear Wiily,
I am glad to hear that you agree that we are NEVER going to run out of oil. Unfortunately the people who were strong advocates of peak oil led many to believe that this was going to happen, in fact many still support and express that view.Hence the panic in certain areas towards the development of new fuels without proper thought and consideration.
Supply and demand of any commodity is, of course, subject to vested interests the power of politicians and the major country producers. This has always been the case.
As for the definition “peak oil” I suggest that we find another expression as it is not yet at peak and that is the point. Just remember that it was Hubbert in 1956 who came up with the definition of peak oil and projected the peak ito be 2000, he was wrong.