Maybe, although my conservative bones don't trust that this era of non-scarcity will last forever. I would submit that we will never run out of oil because we will run out of cheap oil and the price will begin to regulate comsumption: the usual price/consumption chart we were put to sleep with in econ class.
Exactly. Peak cash flow will come long before peak oil ever does.
Absolutely. We will transition to other energy sources, perhaps smoothly but most likely with some unpleasant bumps and a travel a few dead-end paths first.
I am actually referring to the bigger picture in which our needs are constantly met in bigger and better ways through the combination of incentive based free expression of human energy (free enterprise) and tools (technology).
If oil disappears, something else will take it's place. It's what I consider to be the fundamental difference between left/right world views. The left looks at the limited pie and seeks to control it's distribution and manipulate power through that process (bread and circuses).
The right, ideally, sees an ever expanding pie and seeks to unfetter people so they can be free to participate in that expansion, and reap the rewards consistent with their participation.
I highly recommend "The Mainspring of Human Progress", by Henry Grady Weaver, for more on this.