Peak Oil peeking around the corner

Slowly but surely it seems that the issue of Peak Oil is creeping up in the news:
International Energy Agency warns of supply squeeze
Some say this does not quite stand for an acknowledgment of Peak Oil, but it comes awfully close no matter what is said. Besides, I too believe that they will only acquiesce it posthumously.
What the report points out is that there is increased power in the hands of the OPEC countries, as the non-OPEC production is dropping. Also, intense economic growth in the Middle and Far East is fueling higher demand (that may continue to accelerate, thus bringing the crunch timeframe closer than what is announced).
This may not show as a spike in oil and gasoline prices, but two years from now we will see this steady upwards trend unlike anything else before on the price charts. By then most likely we will be paying double for gasoline in the US.

One solution proposed is a drop in demand: if any of you have any idea how that can be accomplished, let me know, too.
And no, ethanol, solar and other alternative power sources do not count, as they will not be widespread fast enough to make any difference. Besides their own issues (like ethanol's low energy profit ratio, or EROEI)
Maybe if most of us switch to bikes for commuting...