My eye was caught by the "Doom and Gloom" header, so I thought I'd post to that, and pass by all the intermediate bickering (OK, flame me).
I think throughout time, every generation thinks they'll be the ones to face the end of the world as they know it. I'm not proposing that. OK, I am. I'm just more than a little concerned and distracted by the convergance of several world changing scenarios. The primary one, and the one that has me most concerned (aside from a $750B deficit, negative personal savings rate, bursting real estate bubble, nervous market, our warmest January on record, antibiotic resistant germs and bird flu) is the strong possabilty that we've reached the halfway point in oil production (Hubberts peak, google it). You laugh and say so what, they started back around 1860 or so, that oughta give us another 150 years or so....not so simple. The first 50 years or so after initial discovery was trying to figure out what to do with the stuff. The demands and dependance is now many times early usage. Now our society is insatiable in burning through it (that salad you had at dinner was fossil fuel planted, fertilized, grown, harvested , delivered and refrigerated). The factors working against us...our dependance on foreign oil (I think around 30%), our appetite (about 25% of the worlds production), China (several billion users) coming online, the fact that our whole society is energy driven (the natural gas scenario isn't any better, looked at your heating bill lately? for those in warmer climes, your problem won't only be energy, but fresh water, and the energy to get it to you).
Bottom line, we're in the last half of oil extraction. The second half is deeper and much more difficult and expensive to pull out and refine. Its gonna get much worse. We have no plan B (most plans, ethanol included, cost more energy or are too oil dependant to work). Any thoughts?