What is not mentioning is the decline in current oil fields. As new oil fields are found old one dry up. Now put that into your predictions
Oil field production decline
Individual oil wells are typically within multi-well
oil fields. As with individual wells, the production curves for oil fields vary depending on geology and how they are developed and produced. Some fields have symmetric bell-shaped production profiles, but it is more common that the period of inclining production is briefer and steeper than the subsequent decline. More than half the production usually occurs after a field has reached a peak or plateau. Production profiles of many fields show distinct peaks, but for giant oil fields, it is more common for production to reach and maintain a plateau before declining. Once a field declines, it usually follows an exponential decline.
Oil depletion - Wikipedia
A 2013 study concluded that peak oil "appears probable before 2030", and that there was a "significant risk" that it would occur before 2020
Peak oil - Wikipedia
When the price of gasoline rises, people naturally buy less of it; the amount of this reduction being determined by the amount of the price increase and the consumer's elasticity of demand for gasoline. This does not necessarily mean that people will drive less (though it is likely), it may mean that consumers trade in their SUVs for smaller cars, hybrid vehicles, electric cars or cars that run on alternative fuels.
Will the World Ever Run Out of Oil?