> The point where we “run out” is when it is no longer economical to extract it from whatever deposit it’s in. It is actually getting easier and easier to extr

> The point where we “run out” is when it is no longer economical to extract it from whatever deposit it’s in. It is actually getting easier and easier to extract oil an not difficult. Fracking is a great example. Earlier you needed thousands of wells working round the clock these days you only need an area as big as a football field to trap into a large reserve. Your meta-point however is correct, it is not that Oil is going to run out but better options and cheaper options will come into existence. Also this probably will happen as a step change function and not something that can be extrapolated. Very likely fusion cells, battery cells etc. would become ridiculously cheaper to the extent that many oil fields will stop being profitable and hence will be closed down. That will be the time where "oil runs out" and in general a great day for humanity.