Peak oil, I can live with. But peak wine?

The US and China, in particular, have been drinking more. The US, which guzzles roughly 12% of the world’s wine, has seen its per capita consumption double since the start of the century. And China, which is now the world’s fifth largest import market, has doubled its consumption not once, but twice in the past five years.

World production hasn’t managed to keep pace. Outputs have steadily declined in a number of the world’s most prosperous regions. Overall, global production has been on a downward trend ever since the early 2000s, when there were still massive excesses. Peak wine, the report holds, isn’t merely upon us; it already happened—back in 2004.

Can’t we get the Chinese to switch to Budweiser?