I for one am not at all worried about running out of oil, in the short term we have GTL and CTL (with estimated reserves to last 400 years after oil is gone), which can be used in conventional Internal Combustion and Jet engines with small modifications.
On top of that we have biofuels which can be refined from algae, using a fraction of farmlands compared to the US growing corn for biofuels or south-americans growing sugarcane.
The biggest problem is what to replace plastics and other oil-based products with?
Just look at the landfills for that answer, by the time we completely run out of oil, all our old landfills will be full of materials that don't decompose - metals, glass, plastics etc. What is to say we can't just mine these old landfills for plastics and other materials we need?
On top of that we have biofuels which can be refined from algae, using a fraction of farmlands compared to the US growing corn for biofuels or south-americans growing sugarcane.
The biggest problem is what to replace plastics and other oil-based products with?
Just look at the landfills for that answer, by the time we completely run out of oil, all our old landfills will be full of materials that don't decompose - metals, glass, plastics etc. What is to say we can't just mine these old landfills for plastics and other materials we need?







