The world will need oil for a long, long time as there is no single technology that can replace it. In addition it will take a lot more than 20 years to implement any partial replacement technologies. As a result, the oil producers will continue to be wealthy even as the amount of oil produced decreases over time.
Shaffir to Herzog: Opposition failed to show leadership in political battles against PM (Haaretz)
from the article: After Rice / Creeping back to the unilateral