Apocalypse, not, A Critical Look at Peak Oil Catastrophism

The phrase “the end of the world as we know it” has been uttered so often in the last decade that some Peak Oil advocates simply use its acronym, TEOTWAWKI. This awkward shorthand was once employed by Y2k catastrophists, and that heritage alone—the most unnecessary “sky is falling” panic in my lifetime—is enough to make me skeptical of the negativism embraced by many of my fellow Peak Oil believers.

..

Peak-Oil catastrophists have performed an important service by scouting out the worst parts of the terrain ahead, and by being noisy enough to have alerted many complacent people to the possibilities we face if we act stupidly. And my own scenarios aren’t exactly rosy. Even if we conserve, even if China builds more one-cylinder cars and we all have only one child, the end of the oil age is going to be rough. Worldwide depression and soaring unemployment are almost inevitable as oil gets expensive. Yet even that very dark cloud is lined with silver.

Energy Bulletin