One of the things I've learned so far in life is that the fear mongers almost always get it wrong. It usually turns out that what bites us in the ass is something very unexpected. We have plenty of oil for the time being, and when it runs low we'll use technology to replace it... we're already using technology to replace it. Within fifty or so years automobiles will not be burning petrol. What is more important where oil is concerned is the thousands upon thousands of products that depend on petroleum... here's a partial list; http://www.ranken-energy.com/Products from Petroleum.htm We can replace oil as fuel, but it's an altogether different story when it comes to manufacturing. The British Empire fell and it wasn't the end of the world for the UK. America will make do.