“Securing adequate oil supplies was … an important element in all the major wars of the twentieth century and in the United States’ two most recent interventions in the Middle East.” (Matthew R. Simmons:Twilight in the Desert)

Oil is a bit like the dinosaurs: it was made millions of years ago and is not being made any more. Among the most useful of nature’s products it will continue to be essential to modern day life for some time to come. But it is finite and will one day run out. It could be about to reach its maximum rate of production, and barring new discoveries or improved recovery techniques, increasing demand will meet dwindling supplies – if it has not already done so. “Peak Oil” will have been reached.