The point of peak oil is that we won't run out, but we will find the cost rising from now on, and at some point oil will no longer be considered a resource. Then we crash.
My point was that either a continuing rise in fuel or the crash scenario are both far fetched.
Who knows, the trend we've had for the last hundred years could change, but if the price of oil does change in real terms, that will also bring so many alternatives on line. It's true that the short term supply and demand for oil are inelastic, but over time we develop new technology, new habits. IMHO the human race has a pretty good track record.