No way it's going to last "hundreds of years." I suspect 30, at most, before the price goes up so much that gasoline will be considered a luxury.
I really don't think it matters which way this plays out. Think about it - If we are NOT running out of oil, things continue as-is, hopefully with continued improvements for economy and pollution...
If we ARE running out of oil, we will figure a way out of it, I'm confident. The Germans ran low on gasoline near the end of WWII, ground up chunks of pine trees with mechanisms on their trucks, and used the TURPENTINE to run them. Pine trees are definitely renewable.
Fuel from crops (corn/soybeans, etc.) is not a big industry now, but you know how people are - they cram for tests, fail to put stop signs in until someone is killed, don't fill the tank until it's empty, etc. If we are forced to cope - we'll cope.
OBTW - who will "own" the world's best fuel production facilities when we start using CROPS, Hmmmm? It won't be those desert countries, buddy boy. :-)
Word-for-word exactly what various "experts" were saying, oh, 30 years ago...
I'm old enough to remember the '78 shortage, and I remember reading in National Geographic that world oil reserves would be exhausted by the year 2000. Well, here we are.