“The Stone Age didn’t end because humanity ran out of stones.” — Ronald Bailey We used to be afraid of something called Peak Oil. Peak Oil was the idea that oil production had reached its zenith, or would soon, and was poised to plunge; we inevitably faced a drought of the black gunk. In 2007, CNN reported: The world has reached the point of maximum oil output and production levels will halve by 2030 — a situation that will eventually lead to war and disaster, a report claims. The physicist Niels Bohr said, “Prediction is very difficult, especially if it’s about the future.” Some time has passed and we can see how this particular prediction has panned out. In 2006 the world produced about 72 million barrels of oil a day. Last year (despite an ongoing financial slump) the world produced about 73 million barrels of oil a day. […]