Now fertilizer prices and companies are on a similar tear, to oil?  That boosted oil company profits and market cap?  Yes.  What will this do to food prices?

Is it real scarcity that is driving this or merely human psychology?  The fear of scarcity?  

Fear is becoming the main force in the market, for everything.  Even greed gives way to fear.  Witness the fake rice panic here in the US.

It is more the fear of scarcity driving markets.  "Hedging", as the name applied to hedge funds implies, is driving us to the poor house  Along with the falling value of the dollar due to huge debt and trade deficits from buying foreign oil and now fertilizer.

If oil consumption in the US dropped to one tenth of present levels over the next decade, would peak oil still be a big deal?  Plugin hybrid drivetrains could do that.

And biogas/natural gas powered trucks and electric trains and mass transit.

The GHG peak must be reached very soon and concentrations ramped down the other side of the mountain.