This morning as oil hit a new all time high, Shell's chief strategist all but spelled out Peak Oil, albeit somewhat indirectly.

Referring to a 'plateau of readily accessible conventional liquid oil' or some other euphemism for: "we're not going to have enough oil to meet demand". Those who know me, know that I'm a pretty staunch believer in the concept and reality of Peak Oil. Severity and timing can be debated, but no longer is there much wiggle room about its eventuality.