Hey, I will explain peak oil for the sake of my fellow Republicans, quoting my personal hero, Richard Cheney, when he actually told the truth.
In short, the US government doesn't acknowledge OFFICIALLY the fact of peak oil, because that would immediatelly rise the question of what to do about it (beside invading other countries). And the common sense solution (switching to other energy sources) wouldn't be good for te real power players (big oil) of this country.
Now let's see the truth, straight from Dick's mouth:
"In a speech to the Institute of Petroleum in November 1999 he (Cheney) shed light on our front-page revelation - that in the wake of the occupation of Iraq, Western companies are to be let loose on its vast, and previously state-owned, oil reserves. Perhaps even more importantly he flagged up an impending crisis that the world urgently needs to grasp - that supplies of oil may be about to shrink alarmingly.
The "basic, fundamental building block of the world economy" was, he warned, in danger of becoming extremely scarce.
Estimates suggested that production from existing reserves would soon decline sharply, by 3 per cent a year, even as world demand for oil grew by 2 per cent. That meant that the world would soon need to be producing "an additional 50 million barrels a day", more than half as much again as the 82 million now being wrested from the ground.
"So where is this oil going to come from?" he asked. His answer: the Middle East was "where the prize ultimately lies". The problem was that "governments and national oil companies" controlled almost all of the "assets", and "even though companies are anxious for greater access there, progress continues to be slow".
Lest there be any doubt about what was at stake, the man who was to become one of the most powerful proponents of the invasion of Iraq went on: "Oil is unique because it is so strategic in nature. We are not talking about soapflakes or leisurewear ... The Gulf War was a reflection of that reality."
http://www.commondreams.org/views07/0107-24.htm
The full text of his speech:
http://www.energybulletin.net/559.html
Also very good with maps and charts:
http://prorev.com/bushwaroil.htm