Here are just of few of the report's key findings:
1. In the United States, 400 gallons of oil equivalents are expended annually to feed each American (as of data provided in 1994).[7] Agricultural energy consumption is broken down as follows:
- 31% for the manufacture of inorganic fertilizer (excluding feedstock)
- 19% for the operation of field machinery
- 16% for transportation
- 13% for irrigation
- 08% for raising livestock (not including livestock feed)
- 05% for crop drying
- 05% for pesticide production
- 08% miscellaneous [8]
2. To give the reader an idea of the energy intensiveness of modern agriculture, production of one kilogram of nitrogen for fertilizer requires the energy equivalent of from 1.4 to 1.8 liters of diesel fuel. This is not considering the natural gas feedstock.[9] According to The Fertilizer Institute (http://www.tfi.org), in the year from June 30 2001 until June 30 2002 the United States used 12,009,300 short tons of nitrogen fertilizer.[10] Using the low figure of 1.4 liters diesel equivalent per kilogram of nitrogen, this equates to the energy content of 15.3 billion liters of diesel fuel, or 96.2 million barrels.
3. Between 1945 and 1994, energy input to agriculture increased 4-fold while crop yields only increased 3-fold.[11] Since then, energy input has continued to increase without a corresponding increase in crop yield. We have reached the point of marginal returns. Yet, due to soil degradation, increased demands of pest management and increasing energy costs for irrigation (all of which is examined below), modern agriculture must continue increasing its energy expenditures simply to maintain current crop yields.
4. The U.S. food system consumes ten times more energy than it produces in food energy. This disparity is made possible by nonrenewable fossil fuel stocks.
5. Unfortunately, if you remove fossil fuels from the equation, the daily diet will require 111 hours of endosomatic labor per capita; that is, the current U.S. daily diet would require nearly three weeks of labor per capita to produce.
Michael C. Ruppert
October 3, 2003
http://www.fromthewilderness.com/free/ww3/100303_eating_oil_summary.html

One practical step our government could take immediately is to gradually phase in increasing taxes on fossil fuels, bringing them up to European levels (i.e. roughly double) over a period of several years.
Yes it will pinch a bit in the short term, but it will also quickly stimulate development of more efficient alternatives - as well as decreasing the pain in the long term (by reducing demand and increasing alternatives). Europeans get along just fine with higher fossil fuels, and despite our colder winters we could too (we have the compensating advantage of greater hydroelectric reserves).
Of course, a big chunk of the tax should be used to develop / promote renewable fuels.
http://www.oilcrash.com/eating.htm
You can get a good intro to the problem of peak oil here (it also has links to other sites that deal with this issue)
http://www.bigwig.net/sergey/hubbert.htm
And there is a newsgroup that deals often with this problem:
http://groups.yahoo.com/group/energyresources/