Despite all the reserves world oil production will probably peak within 8 years. Predictions vary from 2006/2008 (Energy watch), 2010 (ASPO), and a few months ago EIA brought its prediction back from 2030 ish to 2016. With recent articles in Time and wall street journal this topic has now gone mainstream. The main issue is that the Middle East won't be able to push up production to compensate for the depletion of other fields abound the world.
I don't really understand why this topic was removed from the wannabes forum because in my opinion there is a real possibility that oil shortage/oil price explosion is going to hurt aviation on the short term. And that risk is worth considering before spending a fortune on a CPL/IR.