There is some debate about just how oil is created- some scientists believe that it actually forms in the Earth's crust as a by-product of geological processes. If that is the case, and it's a theory I'm led to believe had gained a great deal of acceptance amongst Russian scientists, then oil isn't going to run out any time soon. As long as our demand doesn't outstrip the continued production then everything will work out just fine.
Clayton Cramer points me towards an intriguing article on a new car engine design-
The essence of the idea is that when the exhaust gases leave the cylinder, spray in water. The water immediately turns to steam from the engine heat--and drives the piston down. What was purely a stroke returning the piston to position to accept another charge of fuel and air is now a power stroke.
The new design is projected to use about 40% less petrol than a standard engine.
Finally, the US Department of Energy believes it has a method of quadrupling US oil reserves by pumping CO2 into depleted oil and gas fields.
The United States, the world's top oil consumer, has been successfully pumping small amounts or carbon dioxide into depleted oil and natural gas fields for 30 years to push out hard-to-reach fossil fuels.The DOE said 89 billion barrels could potentially be added to current proved U.S. oil reserves of 21.9 billion barrels through injection of carbon dioxide.
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