Debunking the 'Peak Oil' theory

Cambridge Energy Research Associates (CERA) published a report which argues that the 'peak oil' theory used by some groups to scare us about our energy future is based on faulty analysis (and mentions that this is the 5th time that 'peak oil' is 'announced' by liberal 'scientists'). CERA says that 'peak oil' won't be reached until 2050, even at current production increase rates, and there will be plenty of time afterwards to find energy alternatives.