The Olduvai Theory states that industrial civilization (as defined by per capita energy consumption) will have a lifetime of less than or equal to 100 years (1930-2030). The theory provides a quantitative basis of the transient-pulse theory of modern civilization. The name is a reference to the Olduvai Gorge in Africa.

So what this is saying is that without reliable electricity we have no hope for civil society as we've come to know it. I'd agree with that. We're also starting to see some of the effects of this, with power outages in Pakistan and South Africa shutting down steel, textile, and mining operations, throwing large portions of the population out of work and overall society into chaos.

A daily dose of what is happening along these lines can be found at Energy Shortage.

Peak oil is bad for us, but this stuff is fatal if we allow it to come to pass. You can't have much of a hospital without electricity. Food distribution and preservation change dramatically. What dentists that remain will be working with hand tools and tooth extraction will be the order of the day rather than tooth repair. The only hope for long term long distance transportation is rail electrification and this would also be out of reach. We face a choice here - act now and see our standard of living knocked back to 1940, or pout, stamp our feet, and mother nature knocks us back to 1490.