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yeah, looks like about 16 years I've been hearing this...
"The Hubbert peak theory, also known as peak oil, is an influential theory concerning the long-term rate of conventional oil and other fossil fuels extraction and depletion. It predicts that future world oil production will soon reach a peak and then rapidly decline. The actual peak year will only be known after it has passed. Based on available production data, proponents have predicted the peak years to be 1989, 1995, 1995-2000, or, according to one influential group, 2007 for oil and somewhat later for natural gas. This may lead to either minor economic or major catastrophic consequences for the world since modern civilization is dependent on cheap and abundant fossil fuels, especially for transportation."
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