Kenneth S. Deffeyes quotes:

The least-bad scenario is a hard landing, global recession worse than the 1930s. The worst-case borrows from the Four Horsemen of the Apocalypse: war, famine, pestilence and death.

Once supply begins to dwindle, the years to follow will see shortages that at best will cause global recession, possibly worse than the 1930s Great Depression, ... war, famine, pestilence and death.

The economists all think that if you show up at the cashier's cage with enough currency, God will put more oil in ground,

This much is certain... No initiative put in place starting today can have a substantial effect on the peak production year. No Caspian Sea exploration, no drilling in the South China Sea, no SUV replacements, no renewable energy projects can be brought on at a sufficient rate to avoid a bidding war for the remaining oil.

Running out of energy in the long run is not the problem.... The bind comes during the next 10 years: getting over our dependence on crude oil.

In a sense, the fossil fuels are a onetime gift that lifted us up from subsistence agriculture and eventually should lead us to a future based on renewable resources.

Through our inattention, we have wasted the years that we might have used to prepare for lessened oil supplies. The next ten years are critical.