The article did not say oil would run out, just affordable oil.
Here is a summary
The problem is not peak oil, but peak affordable oil.
We are already there, the big oil companies have cut back exploration because the cannot make money even at $100/barrel.
High oil prices choke off growth in our economy
With little or no growth, we cannot pay our debts.
As in 2008, unpayable debt will crack our financial system
As not in 2008, the central banks have shot most of their “arrows” and have few left in their quiver.
With a broken financial system, we will have the social chaos that was barely avoided in 2008