Peak no evil

(...)

Even if the world's total amount of oil can be established - estimates vary wildly - better technology means the proportion that can be pumped out increases over time. Since 1980, this has risen, on average, from a fifth to more than a third, boosting recoverable reserves. In spite of rising consumption, the ratio of oil reserves to output has been pretty constant since the late 1980s. Today's high oil prices also make complex sources, such as oil sands, viable and damp consumption.

Oil output is not just a function of geology. "Surface" factors such as Opec have a huge impact. Indeed, geopolitics and environmental concerns provide enough reasons to curb dependence on oil for transportation. If the noise generated by the peak oil debate adds to the sense of urgency in addressing this, it will serve some useful purpose.