I think you're confused. We're talking about production levels. Let's talk oil for example. Look at this graph: http://en.wikipedia.org/wiki/File:Alaska_Crude

I think you're confused. We're talking about production levels. Let's talk oil for example. Look at this graph: http://en.wikipedia.org/wiki/File:Alaska_Crude_Oil_Production.PNG http://en.wikipedia.org/wiki/File:Alaska_Crude_Oil_Productio... This graph tells us that peak oil production in Alaska was in 1987. The annual production in Alaska will never again reach 1987 levels. That's the production peak. In the exact same way, 10 or 20 or 30 years from now we'll be able to look back on the world oil production graph and point to the peak - the year in which we've produced the most oil ever. And we'll be able to say with high degree of confidence that we'll never reach those levels again. That's peak oil After the peak occurs the prices will go up never to return to pre-peak prices. The quote you mangled is in fact this: 'End of $resource' is not the right phrasing. 'End of CHEAP $resource' is.