Debate brews: Has oil production peaked?

If even the Peak Oil naysayers are predicting an 'undulating plateau' in oil production, we should be very, very concerned. A plateau in production would mean huge shortfalls if demand continues to rise as it has, especially in emerging economies.
USATODAY.com - Debate brews: Has oil production peaked?:
Oct 16, 2005
"In June, Yergin's consulting firm, Cambridge Energy Research Associates (CERA) in Cambridge, Mass., concluded oil supplies would exceed demand through 2010. Plenty of new oil is likely to be found in the Middle East and off the coasts of Brazil and Nigeria, Yergin says.
'There's a lot more oil out there still to find,' says Peter Jackson, a veteran geologist who co-authored the CERA study.
Based on current technology, peak oil production won't occur before 2020, Yergin says. And even if it does, oil production volumes won't plummet immediately; they'll coast for years on an 'undulating plateau,' he says."