The EIA’s newest International Petroleum Monthly shows World C+C production for January was 74,466,000 barrels per day, eclipsing the heretofore peak of May 2005 by 168,000 barrels per day. (thanks to Ron Patterson for the heads up and to Khebab for the quick graphics).
Anyone who tells you that there's a crude oil shortage as of 2008 is full of crap. There may be an oil shortage in 2009, or 2010. But there is no shortage of petro as of 2008.