Shale oil/gas projections have come under fire because such fracking projects frequently have a short life span relative to past 'easy oil'. This may mean that while such a resource is abundant - and seems to be growing as reserves appear from week to week - they may be expensive.
So, we might not ever run out of oil but being able to pay for it is another matter. The good news is that the Saudis will not be able to prevent the development of alternatives because their days as dominant swing producer are over. The price may stay high. This manipulation of oil prices to defund alternatives was discussed years ago in the Wall Street Journal.
