- In the 1950s, an American geologist correctly predicted that US oil production would peak in the early 1970s. Since that peak, oil production in the US has basically fallen.
- At some point in the past? near-future?, the world will hit peak oil production. After that time, oil production will basically fall.
- When Peak Oil hits, the price for oil will begin an ever-increasing rise with concomitant negative consequences. The end of the modern age, Richard Simmons becoming a global tyrant, etc., etc.
One year of data can be a blip, but for Internet purposes two years is good enough to be a trend so I'm willing to say that with a 24 percent decline in the number of people taking the LSAT over the past two years that Peak Law School Applications arrived in 2010.What do you call 1000 lawyers, etc.? Sorry, bad '80s habit. I'd love to know when Peak Chemistry Grad Student or Peak Chemistry Ph.D. or Peak Chemistry Postdoc will be. Problem is, of course, NSF's data only goes to 2006 or so.
I suspect that the local maxima (if not Peak Chemistry Grad Student) will be 2011, but I could be wrong.
*First, please pardon the pun. Second, I am a Peak Oil agnostic -- I don't really know who to believe and content to remain more or less rationally ignorant.