It's a little belated, but oil's ppb is now past another landmark, and it's now trading at 62.31$. Keep in mind this is up from the 10-20$ range 6-7 years ago (and 40$ one year ago). I thought and I still think that this is a short-term price lurch with speculation and politics more to blame than the fundamental problem (there's only so much oil left), but it's a good time for an update.
The oil companies themselves are intent on informing the public of the root problem, as Chevron and others launch huge commercial campaigns imploring governments and populaces to provide them with the help and leadership to move onto the next energy source.
The estimate is now 5 years before non-OPEC production peaks. The US production peaked back in the 70's.
Whilst the US consumes 20 million barrels a day (1/4 the world total), the next largest consumer is China at 8, and France, a nation comparable to us in development and economic status, consumes a mere 2.
One of the biggest alternatives right now is tar-oil, a seemingly endless source embedded in sands which is much more expensive to extract and causes much more environmental damage (primarily through emmissions). This is what will happen if the free market runs it course.
67% of our consumption is in the transportation sector. Small things, like building a few less highways, a few more trains, more mass transit, zoning land in such a way that work, home, and shopping can all be walked to, mileage standards, and gas taxes can make a huge a difference, and it is the practical policy to implement them.