Reply #40: What will really happen.

[Birthmark]

As demand for oil increases and supply decreases, the price will rise, possibly dramatically. As the price rises, other energy sources become more cost effective and begin to replace oil (which will continue to rise in price). Those that have switched to the other sources will find themselves at a competitive advantage...which will force their competition to switch to alternative sources as well. This has the added benefit of reducing demand, relieving some price pressure, and extending the time before oil runs out.

Will this be a seamless process? Almost certainly not. Will there a be a mass die-off from severe economic displacements? Almost certainly not. If history is any guide, it will probably be a bumpy ride - how bumpy no one knows. But life and civilization will go on.