The fear of shortage of oil in the world is a foolish fear. The world is awash in oil and the demand is dropping and will continue to drop.  There is lots of oil in the ground to be brought on stream in case of a of a rise in demand. In the next 5 years electric cars will be in greater demand with the lower price, and increase range. China will be a leader with electric cars to curve the pollution in its cities. Oil has seen its day and will be around for another couple of decades but the price will be around 35 to 40 dollars a barrel or even lower.