Going, going...
Is the world ever going to run out of oil? Well, no. That's not really good news. We will never run completely out of oil, but after the world reaches peak production, we will soon face rapidly rising prices, no one will want to purchase gasoline that is more expensive than gold. As prices rise, demand will fall. There will be a greater demand for alternatives. Alternative fuel sources, alternative methods of transportation, and alternatives to transportation itself will become more feasible then to petroleum. As transportation becomes more expensive, people will want to live near their places of work, shopping, and entertainment. Would it be so bad to not have to sit in traffic for two hours a day, drive to get to a grocery store? Without too much effort our lives could return to pre-automobile days, train travel, etc. Eventually, electric automobiles will make local travel nearly as convenient as travel today. That electricity could be generated by diesel, steam, or roof mounted solar cells. Alternately, bio-diesel, or steam hybrids could be used to power our houses. So we won't run out of oil, won't be without transportation or energy.