"Peak Oil" generally refers to peak oil production. This article is about peak oil demand.
Overall, this should be considered a good thing.
As people convert to alternatives which are cheaper - due to renewables improving - the demand for oil in some industries decreases. Which then drives further innovation into those areas and further alternatives. In fact, this is exactly what critics of peak oil have been saying for years.
(This isn't saying demand for oil will go to zero, just that it is likely to start decreasing.)
Overall, this should be considered a good thing.
As people convert to alternatives which are cheaper - due to renewables improving - the demand for oil in some industries decreases. Which then drives further innovation into those areas and further alternatives. In fact, this is exactly what critics of peak oil have been saying for years.
(This isn't saying demand for oil will go to zero, just that it is likely to start decreasing.)