The article doesn't really say that
My grandfather, around the time of the Wilson Admin., had a neighbor put on the Presidential panel of the day to design the solution to the soon-to-end oil reserves.
I rememebr inthe 1970's sitting with a petroleum engineer telling us about how in 5 more years, no more oil.
Between gas, calthrates, tar sands, nuke energy, solar, bio-sources and the very large amount of oil still in the ground, we will muddle through.
A misconception is that the oil will turn off somehow, like a switch. But if you look at the curves, the petroleum supplies now known will decline over very long periods of time.
And the predicitons of no more reserves seem to be very premature.
Ed