Warning: Oil supplies are running out fast???

Yesterday "Independent" published:

"The world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned.
Dr Fatih Birol, the chief economist at the respected International Energy Agency (IEA) in Paris : "One day we will run out of oil. Even if demand remained steady, the world would have to find the equivalent of four Saudi Arabias to maintain production, and six Saudi Arabias if it is to keep up with the expected increase in demand between now and 2030. It's a big challenge in terms of the geology, in terms of the investment and in terms of the geopolitics".

article is here:
http://www.independent.co.uk/news/science/warning-oil-supplies-are-runni...