Re: Biofuels, probably won't end well
'Peak Oil' isn't even close - there are huge untapped oilfileds in existence but they are expensive to develop. If the price goes up enough or recovery technology improves, these fields become economically viable and will be developed. We won't be running out of oil for a while yet!
If you don't understand the difference between reserves and resources, you need to read this: http://energyeducation.ca/encyclopedia/Reserve_vs_resource Just because an oil company says it has 20 years worth of reserve doesn't mean the oil will run out in 20 years time!