"When oil supplies run out, civilisation will collapse" Agree or disagree?

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Title: "When oil supplies run out, civilisation will collapse" Agree or disagree?
 
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Subject: Science
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Date: September 19, 2008
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Length: 5 / 1399
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The issue that is being called "peak oil", puts the situation into perspective- "Peak oil" does not refer to the complete loss of the world's oil reserves, but the moment when 50% of the World's reserves of this finite fuel source has been used. When we begin to look at this we can see just how dire the situation is going to become...
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When we begin to look at this we can see just how dire the situation is going to become. When 50% of the world's oil has been used the prices of oil, petrol and diesel will soar several times higher than they already are today. And what will we do when people can no longer afford to fuel their cars or when buses, trains and aeroplanes will not be able to fuel up...
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