Freakonomics' take on peak oil

Freakonomics author Steven Levitt tackles a recent NY Times Sunday magazine article on peak oil. Levitt's glib faith in market wisdom and economic incentives conveniently allows him to sidestep the entire issue. It's too easy to take pot shots at journalistic fish in the barrel, much harder to confront the economic realities of a world civilization totally dependent on cheap oil. Will the markets "correct themselves"? Will we adjust? Undoubtedly. But at what price? How much human misery and political upheaval will we undergo in the process? Truth be told, this article isn't really all that enlightening. It's a lazy toss off. But you oughta read the comments after it. There's plenty of interesting debate in there.