that has already happened in my country, it is no big deal, people still buy big cars and drive a lot.if i could predict that, i would become obscenely rich. the market crashes every once in a while but historicaly over time it goes up.*yawn* civilization is coming to an end, the climate will collapse, half of the animals will become extinct, you will suffocate, the forrest will die, the ozon layer will dissolve, people are going to starve, water will have to be rationed, earth is freezing over... unless you buy my books, donate me all your money, join my church and elect me. so wake up!

there is more than enough oil to last beyond your lifetimes it is just getting harder to get to it, but as technology advances and the price for oil goes up, it becomes profitable again to reopen old oilfields and to exploit them further and to drill for oil so deep that it would previously not have been profitable to drill there.
there are even scientists, that claim oil is a renewable resource, forming deep beneath the surface when methane molecules is compressed: http://216.239.59.104/search?q=cache...enewable&hl=en
i doubt that though.

if oil really runs out, oil can be made from processing coal of which we have a lot more than oil (germany did that in WW2 when it needed fuel but was being blockaded) and if coal runs out in hundreds or thousands of years, there is allready research und way to process waste (mainly plastic) into oil and in europe we even have first reactors, that can turn animal remains (feathers bones and guts) into oil. also many old diesel motors can with little problems run with plant oil from deep fryers, the exhaust will just smell of french fries.