develop:
I think that we allready are in that process of declining oil around the world.
But its won't stop our engines for if oil goes there is still quite a lot of natural gas we can run our engines on,with the same efficiency as with fuel oil in diesel engines.
Present estimates put oil reserves at 40 years while natural gas reserves are estimated for 63 years from now.
That means as a change in our way of life that:
First; oil will cost more simply because we shall have to dig a lot deeper for it,with wells starting sometimes 500 meters deep on the sea bed.
Such wells being drilled by remotely controlled robots are a lot more expensive than the former on shore wells.
That said we shall have to convert our cars to burn natural gas instead of gasoline within the decade or 2 decades maximum.That's the trend now.
Natural gas having a better octane coeff than gasoline,the engines running on natural gas can support higher compression ratio than engines powered by gasoline.That means more performances.Not bad!