Brian Merchant already reported on WikiLeaks revelations about Saudi Oil reserves being overstated by 40%, a claim that could mean that Peak Oil would be upon us as early as 2012. Now Jeremy Leggett over at The Guardian is also raising the alarm, arguing that we are asleep at the wheel when it comes to peak oil, and unless we address this issue now, we could be facing a threat much worse than any credit crunch. "Peak oil is not a theory." says Leggett. "Because oil is a finite resource, it is an inevitability." Hear, hear [spelling corrected thanks to comments...].