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This is supposedly also one of the reasons UAE is leaving opec. They think that we are close to peak oil and so they've been increasing their capacity to well beyond what opec allows them to export and are now going to focus on pumping out as much oil as they can while there's still demand.
How many times are people going to predict "peak oil"?

Oil is valuable stuff. We are going to use every last drop of it. What comes next after that is going to be very interesting.

Oil may be valuable stuff, but nothing compels competing energy sources to be more expensive, and the cheapest oil fields were developed first, with a few exceptions. The optimists who want to develop oil fields beneath 3km of water are IMO unlikely to sell at a price that covers their costs.
Windmills cannot produce fertilizer or plastic. Oil is useful for a lot more than just energy.

On the energy side, of course there will come a day when solar and nuclear will be more economical and plentiful than oil, but that is many decades away.

I agree. The world is not going to use less oil. We're just going to be using more renewable energy. Oil is too cheap and too useful for many things.
Uglier than it has to be, since we are in seriously deep denial about it and actively working to suppress what will inevitably replace it. We ought to be completely embracing that now. At least alternatives were allowed to be develop.
Fossil fuel fascists.

Lovely.

I like the alliteration but the article is trying to pitch a dichotomy where one need not exist. China is a good example of classical fascism with 21st century characteristics and according to the article it's working great for them.