I don't either. It doesn't have too in order to have some pretty dramatic economic impacts...
Peak oil simply argues that the new discoveries do not match what is being used (basically, we have used up over 50% of all reserves). The US, as a nation, hit it in the late 1970's. We all know what happened next. The argument is that the world is very close to hitting it now. I tend to agree with that argument, completely
You get no argument from me concerning nuclear power...The problem is putting one of those damn reactors in your trunk.