If there is such a thing as peak oil, price action will eventually encourage either new technologies to recover current uneconomic reserves or we'll see economics encouraging other forms of energy, including nuclear power . . . . .
If I'm not mistaken, there are something like 100 nuclear reactors being constructed, on order or being contemplated in the world right now. China is particular is going towards nuclear energy in a big way.
Peak oil, it seems to me, also appears to suppose that massive known reserves such as oil shale in Colorado will continue to be uneconomic . . . . and maybe they will in the face of more economic alternative forms of energy.
The world is a constantly evolving thing. Even 25 years ago, within my lifetime, it would have been difficult to envision many of the changes we've seen.
"Everything that can be invented has been invented."
--Charles H. Duell, Commissioner, U.S. Office of Patents, 1899.
And other famous last words
:
http://www.langston.com/Fun_People/1995/1995BKM.html
Cowperson