Betcha you were listening to Eamon Dunphy last night, interviewing that 'economist' who was doing the lecture in Trinity about the imminent collapse of the world economy because the oil was running out next year.
Load of bull.
It's not a limitless resource (as Wino points out) but it's not running out next year either. I've read that there are reserves equal to all the oil thats already been used, but because it's costlier to extract it hasn't been touched yet.
Prices will inevitably rise if they have to go for this stuff, but the lights aren't going out yet.
I hear the 'cold fusion' project is getting new interest. If I was a conspiracy theorist (and I'm not
) I'd probably say the US Gov know it works, but the Oil Companies have kept it under wraps thanks to Dubya and his mates.