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This was a very interesting article to research. The history of "peak oil" warnings dates back nearly a century, and looks laughably wrong most of the time.

In 1922, the best guess of the brightest minds was that we had about 9 billion barrels left and that it'd last for perhaps two decades. In the 90 years following this prediction, the United States produced 198 billion barrels of oil.

(The other stuff in this article is mainly there so that this article shows up on Yahoo! Finance, but might be interesting to you if you like learning about the history of corporate America.)
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