As the presidential candidates spew nonsense about energy policy, and T. Boone Pickens’s stab at a constructive solution starts to look ever-more shaky, we are faced with this grim reality: Peak Oil is still a “fringe” concept.

HP Buys EDS; St. George Agrees to Westpac Takeover; UPS Fights Uphill Battle Against Gas Prices; Cameco Profit’s a “Cake” Walk; Petrobras Post 68% 1Q Profit; High Cost of Oil Dampens Demand; AIG Raises Capital; Yahoo Jumps on Possible Proxy Battle.