So, just about everyone is coming around to the idea that we’re not going to have limitless crude Oil forever. To this revelation I say, Duh! There can only be so much of the stuff on the Globe, so, yes, it must eventually run out.
The fact is that we – as in Human Civilisation – may never actually run out of Oil, so much as what remains will be a luxury item that only those with wealth can afford.
Not to mention that, even today, most of the countries supplying Oil to the World are – at best – politically unstable, and – at worst – not friendly to the West.