Oil Crisis?

"Eventually the world will run out of oil."  Statements like this one have been casually thrown around for decades.  When oil prices dramatically increase as they did during the first Gulf War or immediately following hurricance Katrina, the chorus becomes a bit louder, but when prices eventually do come down the "sky is falling" type headlines fade quickly.

Is there really an oil crisis?  Some claim that the current situation is precarious enough to warrant another Manhattan Project focusing on finding an economically sensible solution to the U.S.'s oil dependence. 

I recently came across a site, LifeAfterTheOilCrash, which offers a compelling collection of data from a range of sources claiming that the crisis is indeed real and more serious than many realize.  The publisher, Mr. Savinar, (, first outlines the U.S. dependence on oil, and then describes just how precarious the situation might be.  While I disagree with some of Savinar's points, specifically his characterization of the U.S. government's reaction to the "crisis,"  Savinar has created a nice collection of information that really makes one think.