A Better Explanation of Peak Oil

I have only recently started reading about peak oil, but there is a great page about the theory here. The basic argument is clear and sound. As the world population increases and more countries become heavily industrialized, we will need more and more oil. Oil is a finite resource, so this has to catch up to us at some point. The only solution would be to cut energy use or find new ways to create energy. I know we have nuclear power plants, solar panels, flexible fuel vehicles, and wind generators, but nothing is prepared to fill the gap if we were denied the amount of oil we have become accustomed to using.