Answer for: Peak Oil production - how will it affect civilisation?
#2 Other fuels are ready, and will become commercially viable
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There are known alternatives to crude oil, they just happen to be more expensive (at the moment). As crude oil becomes more scarce and expensive, we'll likely begin extracting oil shale (http://en.wikipedia.org/wiki/Oil_shale), which has reserves rivalling the world's supply of crude oil.
After that, who knows. There is no shortage of capitalistic opportunists who see great potential in these shifts, and that includes the oil companies.
Btw, crude oil won't be the first oil to be milked dry. Whale oil experienced a full rise/decline cycle in the 19th century, when "rock oil" came to the rescue.
Much of this was regurgitated from faint memories of a college Geography class I took a few years ago. Hope I didn't butcher anything too badly.
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