"Peak Oil" and should gas prices be higher?

As Caltech Vice Provost and Professor of Physics David Goodstein points out in the video interview below, the day is not far off when global oil production will peak, signaling the "end of the age of oil" and intensifying any number of dire consequences, some of which might be made less calamitous depending on how soon mankind realizes what lies ahead and takes prudent steps to mitigate this disaster.

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