We knew it ...

35 years ago when I was in grade school.

World demand for oil and gas will outstrip supply within seven years, according to Royal Dutch Shell.

The oil multinational is predicting that conventional supplies will not keep pace with soaring population growth and the rapid pace of economic development.

...

But back then, the powers-that-be said it was just the dirty fucking hippies worrying about nothing (sorta like the global warming debate now). We should have developed an alternative energy source by 1975, Christ, we put a man on the Moon in '69, but Bush, Cheney, and the rest of the robber barons were polishing their act and padding their pockets. Perspective, ladies and germs. It's been seven years since we got Bush. Time flies when your head is in the sand.

Great thanks to Cookie Jill for the link.