Well, Shell is already admitting the possibility of peak oil (link). It's one of those events that you won't know has happened until afterward. I have a feeling gas prices will go much higher and stay there.
Read it when it's hot, not surprising though.
What is surprising is that this thread only picked it up a month later. Normally some peak oil doomsayer would bring this up immediately after this news breaks.
Getting sluggish, guys?