Stop worrying and learn to love expensive oil.
PEAK OIL HAS ARRIVED-not just the geological phenomenon but the movement of the same name.
The geological part is straightforward: peak oil is the top of an oil field's bell curve of production, after which demand can rise all it wants, but supply inevitably falls. Throwing more technology at the problem, as the United States has done, just runs the field dry sooner.
Many geologists believe the world hit peak in 2005, and the results are catching up with us-oil prices rose more than fivefold from 1999 to 2007, then more than doubled in the last year. If oil prices increase over the next five years as much as they have …