Opinions on Hubbert's peak range from prediction that the market economy will produce a solution, to predictions of doomsday scenarios of a global economy unable to meet its energy needs.

Our industrial societies and our financial systems were built on the assumption of continual growth – growth based on ever more readily available cheap fossil fuels. Oil in particular is the most convenient and multi-purposed of these fossil fuels. Oil currently accounts for about 43% of the world's total fuel consumption, and 95% of global energy used for transportation. Oil is so important that the peak will have vast implications across the realms of geopolitics, lifestyles, agriculture and economic stability. Significantly, for every one joule of food consumed in the United States, around 10 joules of fossil fuel energy have been used to produce it.

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