There is report that reviews over 500 scientific studies about peak oil subject:
Global Oil Depletion | UK Energy Research Centre
All I know is that too many people that are in too big position in oil industry have expressed their concerns about consumption rate overtaking production level, so we would face crisis even we produce more oil than before.
But there is another part to it, that is if production level will still keep increasing or if it starts to decrease and that would truly make s*it hit the fan.
For me it looks like that average joe loses freedom of driving gas powered cars between 2030 and 2050, but there is chance for that to happen even earlier.
There will probably not be alternative before it happens so it will lead changes to societies, way we do things might change.
I have not seen enough good studies that could put this thing to rest.
Car makers are waking up and putting up low consumption vehicles already, but I doubt that there is enough time to make all vehicles turned over. However there is reason for car makers to start making low consumption production models, studies etc, they need time to perfect the product and without reason they would not do barely profitable car models, general public is not yet that eco from my understanding.
If things go to direction how it looks it would go based on all this information I have seen, I believe that goverments will try to keep airplanes filled and trains going, then buses, of course armies would be priority 1, but that is clear without mentioning, I just wonder how they plan to handle house market as people need to move closer to where they work, that will probably make huge mess, also local producing might become new trend.
However I think that time of issues might move forward a bit as consumption does not increase as steeply with prices high.
Overall I consider it being good thing, there might be such changes that make way of living much more sensible in future, this global competing and ever more growth might get bit of time out at that moment.
I still can't say that such event would be certain, it is just something that look plausible, but when we live we see. I have my field to grow food, lake to fish, if electricity becomes too expensive I can live without it, if food becomes expensive I can grow my own, it seems that I have already stopped driving car so I guess I'm prepared for worse already, with hard working I can live without leaving from my property, no money needed.