The End of Oil As We Know It

From the New York Times:

The Age of Oil is at an end. Maybe not this year. Maybe not for five years. But signs of the coming collapse are evident.

Start at the White House. There, a week ago, President Bush touted tax breaks for oil companies that have just posted the largest profits in the history of American business. Yet he was dumbstruck when asked about the prospect of $4-a-gallon gasoline, a price that will force many families to choose between food and basic travel.

“Wait — what did you just say?”, the president asked after a reporter solicited his advice for Americans facing that price, which was predicted by many analysts.