The Alarmists are just as wrong on this issue as they are on their sister issue, "Scientific Consensus on Anthropogenic Global Warming".
"The world is not running out of oil anytime soon. A gradual transitioning on the global scale away from a fossil-based energy system may in fact happen during the 21st century. The root causes, however, will most likely have less to do with lack of supplies and far more with superior alternatives. The overused observation that 'the Stone Age did not end due to a lack of stones' may in fact find its match."