Yup. I work in the oil and gas industry, as a medic on drill rigs, pipeline crews and seismic surveys.
You've pretty much got the picture.
Right now we are tapping smaller and smaller natural gas pockets, some produce less than a year.
The cheap oil is running-out. And the sooner we start planning for it, the easier the transition will be.
There is _never_ going to be no oil, it's just going to get damned expensive.
"Those who have long enjoyed privileges as we enjoy, forget, in time, that men have died to win them."
Franklin D. Roosvelt