Is the world's oil running out fast?
If you think oil prices are high at $40 a barrel then wait till they are four times that much.
How will you pay to run your car? How will you get the children to school? How will you heat your house? How much will transported food go up in price?
How will we pay for plastics, metals, rubber, cheap flights, Simpson's DVDs, 3G phones and everlasting economic growth?
The basic answer is, we won't.
You have read all this before, but it is good that mainstream media is beginning to pay attention to and report on peak oil.