Ironically, on the same day, the InterAcademy Council announced a new report titled, “Lighting the Way: Toward a Sustainable Energy Future.” While that report didn’t include the peak oil news, it did emphasize that the world needs to start moving now to ensure both a dependable energy future and a climate that doesn’t tip dangerously into overdrive.

And here’s where the conundrum comes in: coal, the InterAcademy Council report acknowledged, is the most abundant fossil fuel we’ve got … but also the most potentially damaging. Coal-fired power plants, which are springing up in growing numbers around the globe, could help provide the energy safety net we need if the peak-oil analysis is true. But the emissions from coal-burning plants would only speed up today’s rising greenhouse gas levels.

So what’s the solution? Do we throw everything we’ve got at developing safe and cost-effective ways to capture and store the carbon from coal plants? Or do we “Just say no” to coal and invest like mad in renewables research and development? We need an answer in the near future apparently, but which will it be?