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According to energy pessimists, we have reached the age of "peak oil" when production has reached and surpassed its peak. The implication is that supplies will contract--a truly frightening prospect in an era of increasing demand for energy. The inevitable conclusion the pessimists reach is that there will be an "oil shock" like no other, jolting the world into economic chaos, or worse. In his 2004 book Out of Gas: The End of the Age of Oil, Caltech physicist David Goodstein warned: "we can, all too easily, envision a dying civilization, the landscape littered with the rusting hulks of SUVs."
This prediction is tame compared to that made by Colin Campbell of ...