"If you basically have another six to ten months of that decline lasting, then I think for certain we would look back and say, ‘Guess what? We actually reached a sustainable peak in crude oil production in December 2005,"’ Simmons said at a meeting of the United States of the Association for the Study of Peak Oil and Gas.
The article goes on to give some evidence to discount the statement made above, but… the claim that we’re at or past Peak Oil would gel with an earlier report that was claiming basically the same thing.
Either way, we need to start doing something in either response or in preparation.
I really like Tom Friedman’s suggestion in his book "The World is Flat" where he thinks that the answer to the present paucity of young Americans pursuing science and engineering careers would be to have the Government declare a goal that America will be self-sufficient energy wise in a decade. And then spend the money to really pursue that goal.