"Save" for what? "Peak Oil" is total nonsense. Most of the oil on this planet has nothing to do with "fossils" or dinasaurs, but is produced by the Earth herself. Man is finding larger pools of oil every year. I don't believe we could ever use the vast amounts of oil that exist under land and sea. But here we sit not grabbing it, accepting the machinations of both environmental wackos and the oil industry that guarantee inflated prices, all so we can send $1 billion per day out of this country and enrich our most mortal enemies. It is pure insanity. Ethanol is a sick joke. The world is an oil economy. We need to find and produce massive new oil to fuel it.
For me the jury is still out on the origin of petroleum, but everything else you say makes sense. There are enormous amounts of petroleum in the earth’s crust; it will probably be the mainstay of our economy for centuries. Incidentally, Americans are fortunate that the oil sands are located in Canada and not the United States. If they were inside American territory, the giant mining operations necessary for their extraction would be banned by the EPA. The confluence of Big Oil and strip mining would be an irrestible target for the trust fund kids of the Sierra Club. Look at the offshore oil near California and Florida, completely locked out in spite of the successful operations in the Gulf of Mexico (where the hurricanes are!). Better to have the oil and gas in Canada, where it can be shipped to American markets through secure pipelines. You’d be getting even more of it if domestic American oil and gas producers hadn’t done everything they could to block out competition for decades.