Oil prices will get higher but we'll not run out of it in at least 50 years, and by "not run out" I mean that there will be enough oil to provide gas to our cars just as today. And the chinese will go into the mass-market automobile era too.
Btw, that brings me to the main solution: the chinese. Don't underestimate the ability of the chinese to track new sources of oil that today are regarded as un-economical to exploit.
I'm sick and tired of all these people that are scaring people with whatnot, in their never-ending need of wanting to control others. Remember, in the 80's and early 90's there used to be widespread fear and "experts" warned us about global over-population, mass starvation, the atomic war, mass spreading of AIDS, exploitation of rain forests and nuclear power plant catastrophes á la Chernobyl. Those problems have largely been taken care of, or just weren't destined to become a problem for humanity to begin with.
Today it's "in" and hip to be aware of and afraid of (and to scare others, so that you stand out as the "good person") global warming and stuff associated to it, like oil consumption.
Humbug.
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