Oil reserves are declining on a fast pace, driven by the increased demand per capita, increasing populations and the lack of commitment by many, to environmental regulations and energy conservation recommendations. The spoiled citizens, continue to demand higher standards of living, though these may be on the expense of future generations plus have huge negative impacts on earth caused by global warming. Furthermore, the complacency seen in most nations, will be a demotivated to discover and develop alternatives to current energy sources.
It is unfortunate that both, end of oil and the peak of global warming will almost coincide in few decades, hence will leave huge and catastrophic impact on humanity and on earth. It is foreseen by some scientists and exports that the same may change the face of life on this earth and kick it back decades in the past.
The world needs to wake up and act quickly.