In reply to The Lemming:
Okay. So I'm going to tread a fine line here between telling people who don't want to know stuff they don't want to hear and telling people who already know stuff they didn't need to hear. Maybe bullet points would be a good plan. 50p says I fail miserably.
With thanks to Wikipedia for saving me having to construct my own sentences:
1. Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline.
2. The post-peak production decline will cause severe increases in the price of oil which will probably have negative implications for the global economy.
3. Optimistic estimations of peak production forecast the global decline will begin by 2020.
4. Pessimistic predictions of future oil production suggest that either the peak has already occurred, that oil production is on the cusp of the peak, or that it will occur shortly.
5. Since supplies of oil and gas are essential to modern agriculture techniques, a fall in global oil supplies could cause spiking food prices and unprecedented famine in the coming decades.
"All the easy oil and gas in the world has pretty much been found. Now comes the harder work in finding and producing oil from more challenging environments and work areas.”
— William J. Cummings, Exxon-Mobil company spokesman, December 2005
“It is pretty clear that there is not much chance of finding any significant quantity of new cheap oil. Any new or unconventional oil is going to be expensive.”
— Lord Ron Oxburgh, a former chairman of Shell, October 2008
As far as I'm concerned prohibitively expensive petrol is an inevitability. The sooner it happens the better - it will stop us all from pointlessly burning it to fund our own irrelevant self-indulgent little luxury lives.
The crazy thing is, internal combustion engines didn't really splutter into life until about 1850. By 2050 they will be all-but-gone. We'll have burnt ALL of that precious precious resource. History will hate us. People will look back on that 200 year period and give it a catchy name. The Destruction Period, The Greed Era, The Selfish Age.
In answer to the OP - what are we, the nation, doing about it?
Planning for the low carbon future by taking steps to reduce our own consumption, supporting the 'transition' movement, buying local in season fruit and veg, actively researching non-petroleum-based modes of transport. Or thoughtlessly moaning like a brainless halfwit. There seem to be people doing both.
Ben