oil production depends on demand. we all know what happens when there's oil oversupply. the price crashes and oil production stops being profitable
now take note that solar is right now already cheaper than coal. renewable energy continues getting cheaper while oil keeps getting harder and more expensive to get. see where things are going? at some point in the near future we're definitely going to start dropping oil production for purely economic reasons
take note that we use petro byproducts because they're cheap coz they're byproducts remember LOL. so it's not economically viable to pump oil just to produce these byproducts as "main product". so those lakes of gasoline isn't going to happen LOL
as we taper off oil production the cost of oil byproducts will go up, so the cost of the previously more expensive alternatives start to be become viable. i'm not a chemist but i'm pretty sure we'll find alternatives. it's not like these byproducts contain rare elements or something like that