I claimed that there were more known oil reserves now than in the 1970s.

You claimed that was untrue.

Hence the link.

Sure, oil production will decrease, but meh. We'll adapt, improvise and overcome – we always do. Oil wasn't a resource until people found a way to use it.

Peak oil is defined as reaching the limit of the rate of production. Not "running out" of oil.

The world has more known oil reserves now than in the 1970s.

Worst comes to worst – oil products will get more expensive. As it gets more expensive, less economical deposits become viable (like oil shale in Canada). As more deposits are exploited the rate of production is increased, and the "peak" moves again.

I've survived the following end-of-the-world scares;

Nuclear Winter
Global Cooling
Mass Starvation
Acid Rain
Y2K
SARS
Global Warming

I expect to survive Climate Change and Peak Oil as well.