It is not a secret to anyone that our modern civilisation runs on oil. Oil is a finite resource and sooner or later it will be used up. What do we do then?
Peak oil has become gradually more discussed during the last years when we witnessed record high oil prices, with huge impacts on our societies. Discussing Peak Oil means discussing what happens to society when oil becomes scarce.
It is worth highlighting that the problem is not that oil will end - most likely we will never reach that date, but that it gradually gets more expensive, when it is less abundant. So the question is maybe "how expensive oil can we live with?". That, of course, depends on how dependent we are on oil.
These graphs from Oil-Orice.net give you the current oil price. Oil is traded in two major qualities, WTI and Brent, which is why two graphs is needed.
More about Peak Oil:
The Oil Drum
Life after oil