We might have already reached "peak oil" and we don't know it.
Some argue that we have indeed reached it and therefore we see all these energy resource-based wars in the Middle East and Africa.

I've been researching and the data is quite conflicting. Probably there's a lot of manipulation in the graphs...

Are we ahead of an exponential depletion of oil? If so, we'll not only run out of gasoline, but also plastic materials and a lot more...
Quite a scary scenario. Recycling might help and alternative energy resources. But it may never be as easy and cheap as it has been during the 20th century.

An interesting graph:
http://www.tasgall.com/web/2008/05/xtralargeposter2.gif