In 1914, the U.S. Bureau of Mines predicted American oil reserves would last merely a decade. In both 1939 and 1951, the Interior Department estimated oil supply at only 13 years. "We could use up all of the proven reserves of oil in the entire world by the end of the next decade," declared Pres. Jimmy Carter gloomily in 1977. In fact, the earliest claim that we were running out of oil dates back to 1855 – four years before the first well was drilled! Still, with gasoline oil prices seemingly rocketing past the moon and towards Mars, and newly-published...