I don't know the reputation of this Rogers guy, but T. Boone Pickens says we will see $100 a barrel before years' end. Pickens knows more about the oil business than any species on the planet. We have China and Indias' economies to thank as well as the fact that world oil production is past the peak. Read Hubbard's Peak for your own interpretation.
In terms of the Peak Oil theory, the Left has been pushing that as far back as 1973. Jimmy Carter's crowd downsizes the American automobile, while blaming the over taxed American public for the 'energy crisis'. The oil is there for US domestically, but the liberals will not allowing drilling.
Oil continues being discovered in various location around the globe.