Hubbert predicted that world oil supply would peak around 2000 (many observers now agree that it actually peaked in 2004). But even today, few people in government or the corporate media have been warning the public about the implications for the economy.

This dearth of coverage is partly because the oil-producing countries and the oil companies do not want to publish or confirm data on the amount of oil reserves because if the world has hit "Peak Oil" and is sliding down slope to scarcity, such a message could spark a panic in the markets or a rush to investment in alternative energy and fuels that would be damaging to the bottom line of fossil-fuel industries. It would also shine a bright light on America's misguided strategy for keeping the oil flowing and prices low.