"Most simply, peak oil is about rates, not amounts."
See also, Arithmetic, Population, and Energy, wherein Dr. Albert Bartlett comments on the inability of most people to reason about concrete examples of exponential growth:
Thanks for mentioning Al Bartlett here. This video is very relevant to this post and worth watching. Al Bartlett is a brilliant man and does a wonderful job explaining the profound implications of misunderstanding exponential growth. Here is another link to his videos:
http://www.albartlett.org/presentations/arithmetic_populatio...
See also, Arithmetic, Population, and Energy, wherein Dr. Albert Bartlett comments on the inability of most people to reason about concrete examples of exponential growth:
http://www.youtube.com/watch?v=vII-GxsrR2c