I think it's not a question of 'when' will we run out of oil (75% of the big oilfields are too deep to extract oil from) but to what point will it make sufficient money to earn the winnings back. Cause the deeper you have to go for oil the more expensive it becomes.
And because of poluting the enviroment and messures in favour of 'bio' energies oilwinnings become more scares around the 50's this century... But we won't see climax in the oil market till 2025-2030 aprox before it starts its decline (And i hope oil magnates will start to invest in other {more clean or efficient} resources such as water or biomass... Btw: When u use oil (diesel or benzine) u can get aprox 40% of the energy stored in the oil out of it which is used for driving engines (the rest converts into heat and gasses).
THE NETHERLANDS
