This has been suspected for quite few years now (Simmons etc), but never openly reported on till now.. The key paragraph is this:
"None of this is to say that the world has run out of oil – far from it, in fact – but it does mean that Saudi Arabia, the largest country in the Middle East and the country that's thought by experts to hold about one-fifth of the world's proven total petroleum reserves, won't be able to provide enough oil to keep the world operating as it does today."
The author tries to be reassuring, but it's irrelevant that we're not going to run "out" of oil right now. All we have to cross is the tipping point, where each year the world oil supplies provide just a little bit less than the year before. That tipping point welcomes in some pretty ugly scenarios, including resource wars (I'd say US invades Canada in 10 years) and starvation on a wide scale (the entire Green Revolution in the 1950-1960's was on the back of technology and fertilizer (which is primarily oil/nat gas based) innovations.)The US government is fully aware of this peak oil scenario. Try googling for a somewhat "hidden" US document detailing what the world will look like in 15 years or so. I'm still trying to find it, but will link when I do.