HEAT Zone Survey: Is Peak Oil Theory Fact or Fiction?

Past and projected oil and gas production, with peak production occuring in 2008. (image: peakoil.net)
The HEAT Zone has reported on the controversial theory of peak oil on several occasions (going back to October 31st of last year), and has presented thorough arguments for and against the theory. Now we want to know what you think!
Take a look at the HEAT Zone post from December 10, 2008 that summarizes both sides of the issue. Once you have the info, make the call. Is peak oil a sound scientific assessment that proves crude oil reserves are rapidly running out? Or is it merely an alarmist theory supported by pessimists who don’t understand that human ingenuity and technology will keep oil accessible indefinitely?
Submit your answer here.
