Surprisingly non-panic stricken ed from NYT about it. The clear answer, to me at least, is phasing oil out over the next 20-30 years and replacing it with nuclear and oil shale/coal.
Hopefully by then fusion will be more realistic. If not, just keep ramping up fission. Eventually, fuel cells could do the electric storage for the cars.
There is not enough fissionable material in the earth's crust to make up for oil for more than a few years.