According to this article the Peak Oil theory is all US propaganda.Oil as a resource is a renewable one, it is formed at enormous depths in the mantle of the Earth. All you need is ultra-deep wells to get it. In this way all countries can have their own oil.
These ultra-deep wells take time and money to be build, Russia has been doing this since the '60 and '70. This is why now Russia is among the biggest oil producers of the world.
USA is the biggest oil consumer of the world and building these ultra-deep wells is not a solution. They would need to build hundreds and keep building to keep up with consumption. A better solution for USA is to conquer the Middle East and have all that oil. It's cheaper and faster. Plus, by controlling the Middle East they will protect the dollar.
They are already doing this, look at Iraq and soon Iran. USA needs to control the oil market and keep the oil under the dollar, they can't let oil to be bought with other currencies. Iraq tried to sell oil in Euros and got attacked, Iran is trying that too and it will soon get attacked. Any Euro-Oil-Burse or any other burse were you can buy oil with other currencies except the dollar is a danger to the US economy and the dollar current power.
USA is in great danger, there is no easy way out. If oil countries such as Iran start to sell oil in Euros, the US economy is dead. Russia can change to Euro and USA will soon cripple. USA needs to control the Middle East for its oil and stop any country which tries to sell oil in exchange for Euros.
The problem is that many countries such as Russia have a huge deposit in dollars and they can not let the USA economy collapse because then the dollar deposit will have no value. They need to change their dollar deposits (in Euros for example) from their economy before they can change the currency with which they buy oil or sell it.
When Russia will have a deposit made mainly of Euros and not dollars, then she can easily change and start selling oil for Euros, in that moment they kill USA. But they can not kill USA now, because they still have large amounts of dollars in their deposits. If they change to selling in Euros now they kill their own economy.
This is the same with all the countries in the world. They can't let USA collapse because that will make the dollar collapse and they still have large amounts of dollars in their economy deposits. But a country such as Iran can make the transition. More countries start to sell dollars and buy Euros. They buy oil with Euros and slowly their deposits will be in Euros and USA will get weaker and weaker until its economy will die.
At that time anyone who has large amounts of dollars in their deposits will die with USA. This is because at that moment the dollar will have no value. All that gives value to the dollar is oil. When countries stop buying oil with dollars, the dollar becomes just a paper, no value whatsoever.
This is the "Oil" story, the "Peak Oil" one is in this article. USA needed an excuse for its citizens when their economy will collapse: Peak Oil. There is enough oil, the problem is that the dollar is in danger of being changed. USA adopted a strategy which was a bad one since the beginning. For it to work they needed to control all the oil production of the world. They can't control Russia. Iran is not a simple game. There is not much time left for USA.
