Peak oil is here, and have been for more than 10 years. Yet, a phrase like this would sound impossible 15 years ago.

It's not that peak oil didn't happen, or that it wasn't traumatic. It did come, just like predicted, and we are on the way to adjust from a growth based society to a society where "if we work hard and right, we can improve the world!", and the transition has been traumatic, just like predicted.

Where predictions failed was that people expected a one in a 1000 years calamity (because it is a one in a 1000 years event), instead we got what looks like just a one in 100 years calamity.