Meh.
Back in the 70s, when I was in HS, we were told we only have 30 or 40 years of fossil fuels left. Still mucho reserves available, consumption is up simply because of economic growth and more countries, like China, are using more of the resources too.
Considering that, there are still huge untapped reserves in Russia & China, and there is also additional development going on to tap into oil-sand reserves - which were not previouslly considered a viable alternative. Canada is taking the lead in the oil-sands R&D IIRC, and it is becoming comercially attractive to tap those reserves.
Which reminds me, is China part of the KIOTO (sp?) treaty?? With nearly 1/4 of the worlds population, and the development expected over the next several decades, their output of pollutants will be staggering compared to anything the U.S. has ever done. I wonder if the Eco-geeks will run over there & harrass them...?