The world must prepare for the transition to renewable non-polluting energy sources to ensure the continuous flow of energy to the world ’s increasing population and expanding economies.World oil supply will meet demand until the peak plateau of world oil production is reached which is estimated to be between the years of 2010 and 2030. Ultimate oil recovery will range from a conservative 2700 GBO (billion barrels oil)or an optimistic 3640 GBO (billion barrels oil). Declining production after peak oil production occurs will cause a global energy gap to develop because energy demand will continue to grow. This energy gap can be avoided by forward planning. Energy conservation, improved energy efficiency, expanded production of unconventional oil and conversion of natural gas to liquids will help extend the time of peak oil production. The long-term solution to energy supply is conversion to renewable, non-polluting energy sources, which include, solar, nuclear, hydroelectric, geothermal, wind, biomass and hydrogen. Solar, nuclear and hydrogen should become major power source in the 21st century.