[MrEdd]

1. We have been using oil for over 150 years.
2. We have been using only the easy to get oil, the “tip of the iceberg” easily obtained.
3. We haven't run out of that.
4. Reproducible experiments have shown that petroleum forms rapidly when carbons are exposed to high heat and pressure - a condition that occurs naturally under the ocean floor in some regions. Oil is still being formed today.

[PIF]

A few years back, the estimate (by volume) of the total amount of oil used - since it was discovered - would just fill Lake Tahoe...

Meanwhile the US is sitting on 1.35 trillion barrels of oil.