So oil is now over $40/barrel and this is being blamed for the fact that
gas
is now over $2/gallon and avgas is well over $3/gallon.

As one news report put it, oil is the most expensive it has been since the
1970's. Ummm, anyone remember what the price of gas was in the 1970's when
oil was pushing $60/barrel? It was less than a dollar a gallon....

Yeah, that is an interesting point.

I'm too young to comment on the 70's oil fiasco, but was there as much
doomsday talk back then about 'Peak Oil' as there seems to be today? I
don't pay much attention to it, but I've been getting email links from
others freaked out about Peak Oil. And they refer to sites such as
lifeaftertheoilcrash.net and so on.

Does anyone here have any web references that counter that rubbish?

Ben