We wont run out of oil...Or will we?

I found this article kind of interesting because I have often thought about if oil will run out. After reading this I thought about ceteris paribus..holding all else constant; if there is nothing traumatizing that happens with oil over the years, and oil stays fairly normal we should be fine. In time yes, oil will be preferred over gasoline because of the hybrid cars and who knows what will be invented next, where gasoline will not be needed, but oil will.