ODAC was founded in June 2001 on the belief that an informed public debate about the likely impacts of depleting oil supplies is critically needed. A growing number of experts now predict that world oil production has peaked or will reach its physical peak within the coming decade and then start to permanently decline. The prevailing view of most energy policy-makers and institutions is that near-term oil supply is mainly an economic and geopolitical concern. Under almost any scenario, however, lead time is running short for a smooth transition to new energy systems and a less oil-dependent way of life.