I think you're being a bit optimistic there... It's not going to run out in our lifetimes - but it won't last a hell of a lot longer than that (in sufficient quantities to be affordable for consumption by most of the planet anyway). Particularly as it's use is still rising rapidly.

My theory is that ground based transport will slowly convert to be electric based (expect to see hybrid cars becoming far more mainstream in the next few decades) leaving plenty of oil left for aviation. Bio-fuels will presumably be far more advanced and commercially viable by then as well.