Is the planet running out of gas? If it is, what should the Bush administration do about it?

It looks like humanity is at least a generation away from peak oil production. Unfortunately, there could be another “oil crisis” any day now.

One day, the oil age will end. As with all resources, there is ultimately a finite supply of oil. So it is not yet clear how the world will power itself for the bulk of the coming century. But we have at least another three decades to find alternatives to petroleum. “Trusting markets is the only way we can assure energy abundance in the future,” notes the University of Houston’s Economides. “It’s also the only way that we will ever transition to something other than oil and gas.”