I agree with Bryan... his projection is correct, but I think its a bit further down the pike time wise before the end of the oil age is upon us. Maybe a few generations away.
Those of you who are in opposition to this inevitability are looking at the issue from a very narrow perspective. You need to realize that we rely on hydrocarbons for a LOT more than just a fuel with which to burn in power plants, or in car engines. ALL of our manufacturing on this planet, ALL of it, is COMPLETELY reliant on hydrocarbons not just as a source of energy, but as a source of chemicals, lubricants, plastics, and other petroleum byproducts absolutely CRITICAL in the process of steel and metalworking.
EVEN if you had a 100% solar or other non-hydrocarbon power source, you can't run a factory without hydrocarbons. Why not? Because no hydrocarbons means no lubricants. No hydrocarbons means that you can't mill steel, because the temperatures required to do so can only be achieved through burning of hydrocarbons, and, hydrocarbon chemical byproducts are needed in order to MAKE steel.
Try making solar panels in any sort of scale of quantity with no factory, no lubricants, and no plastics.
Try making a car with no plastics, no lubricants, and no chemical byproducts with which to mill and press aluminum.
And even if those hurdles were overcome, where would you put the factory? You can't build a factory building without hydrocarbons! Hydrocarbons are used as insulation on every wire and pipe that runs through the building! Look around your room, or wherever you are seated right now... look at all the plastic, look at the paint on your walls (hydrocarbons), look at the metal framing of your windows... look at the plastic insulation on each and every wire coming in and out of your computer, look at your computer screen... all plastics. Try building a LCD display, or, even a simple old fashioned "tube" style electronic display screen with no hydrocarbons. Imagine the labor needed to create a simple strand of copper wire with no hydrocarbon-using machine that assists in creating it.
Solar power might create energy, but it doesn't provide an alternative to all of the other byproducts of hydrocarbons that we absolutely rely on in our current industrial/economic configuration.
Man has tapped into all of the economically feasible carbon sinks, and if you google up a table, oil production has leveled off, and most all of the major oilfields are now in decline. How much petroleum might be "in reserve" or untapped is irrelevant, the relevant issue is that the RATE OF EXTRACTION is in decline. It makes no difference if we have ten barrels in reserve or ten million... the problem is that we have a rate of demand that is exceeding our rate of extraction. Trying to increase extraction rates, either through accelerated drilling in known reserves, or increased exploration, is becoming increasingly uneconomic. Some say, "well, this uneconomic pricing makes the more expensive sources of hydrocarbons increasingly more economically feasible". Not true, because there is a point where unit consumption of hydrocarbons reaches a point where humans can no longer afford it.
The TRUE solution to this problem is some way to take the carbon that humans have released into the air, and recycle it back into hydrocarbons. We need to get that carbon back, and find a way to convert it into a storable form for reuse. Carbon is the problem... we have a carbon-reliant economic infrastructure, and we are taking tons of this precious carbon and just spewing it into the air wastefully. And there is NO source of carbon as concentrated with energy as petroleum... plants, bio fuel, etc.. all myths, with not enough yield. We need the concentrated carbon from burned hydrocarbons out of the air, and back in our hands for reuse.
I've heard of the green algae stuff, genetically engineered to inhale carbon dioxide, and then harvested as petroleum. Perhaps if we can find a way to genetically manipulate the metabolism of these organisms to make this process a LOT faster, we might be taking a step in the right direction... ?
Bryan... out of curiosity, have you/do you read any Kunstler?