Peak Oil Assignment

My understanding of peak oil is the moment of when the extraction of oil reaches its max point. After the peak, it flatens out and then begins to fall. What most people don't seem to understand when they hear peak oil is that oil never runs out. As it was stated in http://energybulletin.net/primer.php, it was clearly stated that peak oil is defined as "running out of 'cheap' oil." My concerns while studying peak oil was what can actually be done to prevent this decline. My only thoughts for this question was to decline the birth rate. The growth of the population is what is causing the value of oil to increase. If the percentile of the birth rate decreases, the value of oil will also decrease. The use of cars is also an effect. There should be mass transportation created in different places, so the use of cars can be limited.