If you are interested in this topic, you might want to check out this CNN special:We Were Warned: Tomorrow's Oil Crisis
I read a lot these days about the topic of peak oil. Matthew Simmons has studied the subject and believes that we have reached a peak in global oil production and will soon see a decline in global oil market. For a fascinating set of interviews with Simmons on peak oil and its potential impact on our economy click here.
Some obvious Discussion Board questions include:
1. How does an increase in oil prices affect aggregate demand and supply, and the price level?
2. Is there evidence that we are near a global oil production peak? If so, what will be the implications for our economy?