This is one of the shortest verses in Peter’s sermon, yet it has generated quite a bit of controversy. The controversy surrounds whether Peter is claiming a fulfillment of Joel’s prophecy or simply making a comparison to what Joel prophesied. This is one of those passages where our hermeneutics, and the theological framework determined by those hermeneutics, play a major role. Because we hold to a normal (literal), grammatical, historical method of interpretation (or hermeneutic) we here at Grace Church are what is known as dispensationalists. One of the major ideas held by dispensationalists is that we see a clear Biblical distinction between Israel and the Church. This is one of those passages that are affected by this belief. If you believe that the church has replaced Israel, you are most likely going to see this as a fulfillment of Joel’s prophecy. You then must spiritualize or explain away the other elements of his prophecy which are not fulfilled here. However, If you believe that the Church and Israel are distinct, you will most likely understand that Peter is making a comparison. This is not a fulfillment of Joel’s prophecy because that prophecy is not for the church! It is for the nation of Israel and will be fulfilled at the end of the tribulation as the Millennial kingdom is being established. You’ll notice that with both positions I used the words “most likely”. That is because there are no set and established positions. Everything is on somewhat of a spectrum.