This is a guest posting of Richard Duncan's latest "Olduvai" update, which is an essay that explores energy use and population and as with previous updates arrives at some rather grim conclusions.

On a side note, the paper Richard Duncan wrote with Walter Youngquist in 1999 (when oil prices were in $10-$15 range and stock markets were at all time highs) predicting a 2007 world oil peak was not only prescient and ahead of its time using oil forecasting heuristics, but was part of the core readings from 2003 that caused me to leave the Wall St path to study resource depletion full time.

(I encourage those who have not done so to read it: Encircling the Peak of World Oil Production).

Figure 5. Toward Re-Equalizing the World Standards of Living