Long-term Trend Watch:  CIBC economist Jeff Rubin predicts $100-a-barrel oil to become the new normal.  The article doesn’t mention Peak Oil by name, but the analysis is the same.  Oil production from traditional sources like Mexico, Kuwait and Russia are declining.  Candadian tar sands oil might temporarily fill the gap, but the long term trend in production is down.  Nuclear and biofuels will be needed to fill the gap.

I have read Hubbert’s Peak by Kenneth Deffeyes about the Peak Oil theory and find the argument pretty compelling.  Read more and decide for yourself.  In the meantime, its a good personal hedge to own some oil stocks.