One thing that is instructive is the new article in Time magazine:
http://www.time.com/time/business/artic ... oo-biztech
When you look at the related articles that go back in time, there are some portents.
This one is from 2005:
http://www.time.com/time/magazine/artic ... ine-bottom
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')Remember, too, that energy spending is not so crucial to the economy as it once was. It was 14% of GDP in 1981, compared with 7% today. "We can take these kinds of prices," says S&P's Wyss. "Relative to income, they're not that high." A gallon of gasoline, after all, is still about the same price as a gallon of bottled water. He calculates that the average person would need to work 42 min. to earn the money for a week's commute; back in the 1970s, it was 102 min. "That explains why we're still buying SUVs," he says. Once oil gets to, say, $100 a barrel, "it starts to get more difficult."
Well, what do you know, we're over $100 a barrel and sure enough, the SUV era is over. Did making us feel better about oil prices in 2005 really accomplish anything other than to discourage people from changing their lifestyle? Obviously the article didn't think we'd be at this milestone so soon. What coverage of peak oil it does give tends to emphasize a peak 10 years from now.