Its a very big worrry. More significant than the current breed of US gas guzzlers is the fact that China and India's consumption is rising as they become more affluent.
We have known for some time that world production would peak out about 2009 (US production peaked in 1970). The next world oil shortage is going to make 1974/80 look like a picnic. I expect it to really bite some time from now, maybe as late as 2025.
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