The predictions of the end of oil have been going on for most of the last century. Just over 100 years ago, the U.S. Bureau of Mines estimated total future production at 6 billion barrels, yet we’ve produced more than twenty times that amount. In 1939 the Department of the Interior predicted US oil supplies would last thirteen years. I could go on. The wonder is that smart people like Nobel prize winners Krugman and Obama haven’t learned anything from history and instead keep regurgitating these myths about “running out.”