It's paranoia bullshit that neglects to mention the fact that the reliance on oil is on the downslope. Or that as technology advances engines, and refinement techniques become more efficient.
The last I heard it was estimated we had 50-100 years before we'd begin to have a problem with oil supplies. Even just 50 years is a long time as far as technological advancement, giving plenty of space for alternatives such as hydrogen fuel.
Another thing he notes in there is reduced oil production. Yep, oil production is down, but not because we're running out of the shit. The OPECs want to maintain the current price of oil so they cut the production rate in order to maintain the pricing by not oversupplying.
I also love how he mentions natural gas in there, but last I checked natural gas isn't derived from oil.
