? about possible oil shortage soon?

We are running out - not of oil and gas, but of CHEAP easily accessible oil and gas. I'm currently at work on an oil well intended to reach a reservoir that was found in 1993, but was not technically and economically viable then. Right now the technological advances of the past 16 years, and the increased oil price, make it possible and profitable to drill it.

Gas prices will become higher. At some point the prices will become too high for most people, so by that time there had better be an alternative. It's not as simple as "driving less" - transportation and production of food will also become more expensive. Where's your "panic point"?

Access to cheap petroleum has made it possible to build an entire technology and economy that is totally dependent on petroleum. That won't last. ;)

Producing solar panels and wind turbines also needs petroleum products, at least at present. Resources have to be mined, refined, finished parts manufactured. At present this all needs petroleum.

"Peak oil" is real. As I said, we have already run out of cheap oil. As new finds get smaller and less accessible, production rates will decline and prices go up.

Oil is a renewable resource, but at a rate far far lower than production. I know of several areas where oil is being formed today, but it will be a couple of million years yet before this oil has migrated into a trap where it can be produced.

I don't know what it means for you, but I know that it gives me good job security for as long as I would like.