[quote]mikeinboston wrote:
I think the reason people are still talking about Peak Oil is because the amount of oil recently found in the Gulf would sustain the United States for about three years at our present rate of consumption. Since, however, the population is growing and demand is thus increasing, this does not put a dent in the concept of Peak Oil. In addition, this calculation is only assuming we're talking about Americans.
The oil on the gulf is an example of how more oil is exploited or discovered that would not be if prices didn't go up. Never said that it ouwld sustain the US by itself.
I am in agreement with you that we need to find other energy sources and to diversify.