I'm not totally sure about that conclusion.I must agree I dont see a shortage of oil supplies because even the hint of one would drive prices through the roof and people would be queuing around the block for gas.
You are estimating our oil reserves / production capability from, the behaviour of the 'man in the street'?
Anyway, prices DID go through the roof a few months back ... although I'm not sure if there were major physical shortages at any point.
Even if Peak Oil were announced as fact on BBC News today, we would probably see only a short term run on petrol (gas) until all tanks were full.
Prices would increase - but the net effect would be much more long term and gradual than any fuel panic.