Roger Nome vented on another thread about peak oil. Specifically he said:
What am I doing this Sunday morning? oh I don’t know, freaking out about the fact that we are on the cusp of global recession yet no one in New Zealand’s blogsphere seems to have a clue about it.
David, I see that you’re still yet to make one single post on the most important and urgent economic issue that this country, and indeed the world, currently faces. That is peak oil.
There is a lengthy debate on IPs’ blog between the two. Worth reading.
Personally I don’t think decisions need to be made on the basis of guessing whose prediction is right. If oil starts to become scarce, the price of oil and hence petrol will increase and the more it increase the more other sources of fuel will become economic. To a limited degree we are already seeing this.