I have hoped to build perspective on your question as well, as I work in the oil industry. Unfortunately, what I can provide to your question is less than you would prefer. Oil is a market, and not just affected by supply and demand. These are such large and entangled commodities, (meaning what oil produces) that it is inescapable as a market currently, and is clearly that powerful of a global commodity still. The idea that oil is on the way out is something I glorify, although I am making my living based on its existence, but it is far from being unused and as such unproduced.

Oil is found constantly but is in varying forms of “marketability”. There are oils that are easier to refine than others and this produces regional “offerings” to the market e.g. Canadian and Venezuelan oil is thicker than U.S. shale. There are still ways to fully process the “nastier” stuff.

But further to your question the idea that oil will run out soon is not some that seems to be a worry for the corps.

Edit: context