Theres currently about 1.7 trillion barrels of oil thats in reserves (if you dunno the difference between oil reserves/resources/resource bases take a look). Places like Saudi have huge oil fields that they still havn't told anyone about yet. If you have a f**kton of oil, would you really want the rest of the world knowing about it? Especially the whole Bush causing wars to gain oil dealio. Fossil fuels will NEVER run out, they're being created today. However we're using them so much faster than they're being produced, which is why everyone gets worked up. Current price of a barrel of oil is ~ $100. 5 years ago it was ~$10.