This article was wrote over 2 and a half years ago

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One of the world's leading energy analysts yesterday called for an independent assessment of global oil reserves because he believed that Middle Eastern countries may have far less than officially stated and that oil prices could double to more than $100 a barrel within three years, triggering economic collapse.

Mr Simmons told the meeting that it was inevitable that the price of oil would soar above $100 as supplies failed to meet demand. "Demand is pulling away from supply...and we have to ask whether we have the resources that we think we do. It could be catastrophic if we do not anticipate when peak oil comes."

http://www.guardian.co.uk/business/2005/apr/26/environment.oilandpetrol <-----FULL ARTICLE

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It's all very worrying, if you read into Peak Oil you'll find loads of information and things aren't looking good for us. This bloke seems to have predicted things spot on. I've been reading up about the subject for quite sometime now and i don't see things in the future turning out very well for us all.