Although it sounds like a good theory and all, the guy is trying to predict the future using the past. You simply can't do that.

Can't do it? Why? I know I learn from my past, so why cant that be applied to civilization?

The primary reason being why we can't predict from the past when it come to energy production is that there are alot of alternative possiblities in the very near future some of which are available now, Solar, Tidal, Wind, Geothermal and Hydrogen. On the horizon is Fusion, Space Based Solar Collection, and Anti-Matter. The demise of Oil is a good and beneficial, even though it will be painful and impact alot of people. So in a way you're right but it won't happen globally, It'll just happen to the country's that didn't reduce thier dependance on Oil early on and implement meaningful regulation to phase Oil out. Sound familiar?