No. As others have hinted at, the issue really needs to be quantified in economic terms. Nothing can replace oil currently for what it does. If I remember correctly, most oil consumed worldwide is for manufacturing and agriculture, not transportation (remember that every piece of plastic in existence comes from oil!...and oil is the only thing that can make plastic.) As China and India continue to industrialize, their oil consumption will only increase. Certainly it would be beneficial to develop the "alternates," but development is still precluded by relatively cheap oil. As it becomes more expensive, the market will drive alternative development. Part of the reason that hasn't happened in the US (and I'm guessing worldwide) is that the government continues to subsidize oil--so the true market cost is not apparent. Were gas to truly cost $7 a gallon ALL the manufacturers would be producing ONLY electric cars, because that's what the market would therefore demand. So there's the tinkering of supply/demand by government. But even if the tinkering didn't exist, and everyone drove electrically, and heated and cooled their houses by wind, wave, and geothermals, would that necessarily make a dent in overall oil consumption? Worldwide, I would say "No!" due to increasing Chinese and Indian industrialization. Those two countries contain over half the world's population. Once they are established on an industrial economy (in 30 years? 50 years?) their oil consumption will slow down and perhaps level off.
Ever since the "Energy Crisis" in 1973 the media's been chicken little-ing about the "End of Oil," that the world would "run out!" in 20 years, and that would be the end of civilization as we know it. What they should have said was that it was the end of easily accessible and cheaply produced oil for the United States, partially due to the cartels forming in the Middle East, and partially due to the loss of the Vietnam War.
The world will always consume oil; the questions will increasingly be "what for?" and "how efficiently?"