But did not read too much into it of it's immediate impact. I saw in many movies when aliens come to earth when they have consummed all of their energy resources, so I supposed PO will happen, one day.

But in reality, PO or not, I don't think PO can happen without a severe demand conservation and destruction. We are in more conservation stage than destruction currently. We have long long ways to go.

I also think the world is a funny place, 6 month ago, everyone was talking about PO. Right now, the global recession will delay it from happening, may be long enough for alternative energy sources become readily available and affortable. I always believed when things look the extreme one way or another, somehow, they wil be rebalance again. :-)