I don't think that we'll have any problems with fossil-fuel supplies for a long, long time.
It's the first time what I do for a living has ever come up on these boards, lmao!
In supply terms, no. In cost terms yes.
Why do you suppose there was a price inversion for gasoline and diesel fuel in 1999 and why it will never go away?
Cost problem one:
85% of the worlds oil supply is sour crude.
85% of the worlds refineries are designed to refine sweet crude.
Only one US company had the foresight to setup sour crude refining.....Valero.
Cost problem two:
Over 2/3 of the worlds overall crude oil supply is under the control of OPEC and Venezuela
The US foreign oil policy is to use (import) everyone else's oil before we use our own. Outlook has changed but as you can see at the pump and per-quart-of-motor oil, we're paying for that difference.
Cost problem three:
US companies turn producing wells OFF when market prices are below their profit models. Capitalism.
Capitalism drives our oil imports until supply wains enough to increase domestic production.
Cost problem four:
Shale oil (fracking) is an extremely costly way to turn shale oil rock into sour crude.
Expensive to produce, expensive to refine, end refined product is a base stock that is of much less quality than sweet crude.
Results:
OEMs will continue to have difficulty engineering engines that run on continually poor quality fuels. The Tier 4 engines, with all of their emissions control equipment are already costing OEMs hundreds of millions in warranty work.
Refining costs will quadruple over the next 15 years as refineries begin to transition from sweet to sour crude capability. That cost will be passed along to you.
Affordable transportation, without alternative fuels, will become a thing of the past over the next 60 years due to the costs associated with, and the opportunistic supply models currently in place.
So, if you can't afford it...it's total supply is meaningless. It might as well not exist at all.