Wall Street Jounal mentions US oil peak

Today’s Wall Street Journal publishes an inflation adjusted historical graph of oil prices going back to 1970, in a story “Refinery Slowdowns May Push U.S. Heating-Oil Prices Higher”. The caption on the graph states:

1970 U.S. oil output peaks and begins a long decline
http://online.wsj.com/documents/WSJ_Oilprices_102604.pdf