Is ';Peak Oil'; a real threat or is it oil industry propaganda to justify higher gas prices?

I've learned a little about both sides of the issue. It seems certain that demand of oil is increasing globally and supply must decrease at some point so that part of the Peak Oil argument is valid. But how do we know what is true with oil companies being so powerful and manipulative?Is ';Peak Oil'; a real threat or is it oil industry propaganda to justify higher gas prices?
I've read about peak oil, at least 5 years ago. I see it as a long term threat. We don't know what ';peak'; really is, or when we will reach it. We are well on the way in the short run because increased demand is going to out run or strip short run supply. This is mainly due to the growth of countries like China and India. If we could find alternative fuels or additional fossil fuel source ( i.e. off the gulf coast), then ';peak'; would be re-defined as the supply is re-defined.Is ';Peak Oil'; a real threat or is it oil industry propaganda to justify higher gas prices?
Peak Oil is very real, but exactly when we reach it, or even if we already have, is not known. The Oil companies use it to argue for us doing things (like drilling in the arctic), and raising prices so that they can be assured of making money for years to come. The environmentalists use it in an effort to convince people that we should use alternative sources and not rely on oil (which IMHO is a good idea). The government uses it to argue for why we need some control in the Middle East. But seems no one can agree on what the ';peak'; of available oil really is...
There is definitely a supply problem when it comes to why gas prices are high, but whether we're running out is not really an issue right now. The main issues on the supply side in the US are: not enough refining capacity (because no one will allow oil companies to build them), different blending standards in almost every state, and turmoil in places we import crude oil from. You also may have heard of a group called OPEC (organization of petroleum exporting countries). They control a huge percentage of the world's crude oil and have enough power to collude (in order to to cut back supply/production), and increase the price of crude oil.
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I would look at this logically it seems to me that if oil was becoming more rare they would be more concerned and putting more effort into finding more alternatives for oil. I don't believe that the middle east is the only place to find oil, there are more locations to get it. Why tell us about it they are making so much money. Often I have seen the price for gas go up several days in a row I know they are not getting new gas daily, so why are we being charged so much more from one day to the next if they original paid one price for the gas. These days are sad that how much these big businesses can take advantage of all of us, even when going from a rich area to a poor area the gas was much cheaper in the rich area. Greed is evil and effects everyone especially less fortunate families.
Are any of the oil companies promoting 'Peak oil'??...I've never read about any of them even giving the theory any validity whatsoever(except maybe BP)...in fact, Chevron claims it doesn't see a peak in sight..The CEO of Shell was on the Today show recently and said the oil industry could meet demand for many years to come. The media is not promoting peak oil either...if it was propaganda aimed at the public, wouldn't we be hearing about it more? I've been aware of this issue for 3 years and I have to find articles about it on the internet...the mainstream 'TV' media has not picked this up and run with it.
Nobody knows when Peak Oil occurs.