Peak Oil is when oil demand is greater than Production, which is predict to happen between 2008 & 2012 by many people in the oil industry. This will then trigger a massive price increase of oil, which the western world is so dependent on for transport. At present the world used 86 million barrels of oil a day, which =
(412,800 articulated lorry loads per day , 287 load per minute) and will increase by 3% per year.
Click on the web sites below to read the many reports, predicting Peak Oil and the problem that come with it. If the prediction are correct there well could see a World Economic Recession. Many of the web site refer to Climate Change as a cover up for Peak Oil, by Western Governments.
Oil Depletion by Ohio State University
What they don't want you to know about the coming oil crisis
Association for the Study of Peak Oil & Gas
Or just put Peak Oil in a search engine