We're not running out of oil--but we have run out of cheap oil. It get's harder and harder to find large quantities of oil--but you are correct; as we do deplenish cheaper sources, then oil shale (and gas) become viable alternatives. As long as we have a gasoline infrastructure, we will be slaves to oil.
In reality we are not "slaves to oil". Find me an energy source that can get my family of four from Austin to Dallas in 3 hours in relative comfort for $20, and I might consider changing. Right now there is none. Its by far the cheapest/safest/most convienent energy source we have.
Until that dynamic changes we will continue to use oil. And frankly I do not have a problem with that.
I have read Corsi's book Black Gold Stranglehold which presents a powerful argument for oil as being abiotic, rather than fossil in origin. The main thrust of the book: Oil is continuously being naturally manufactured deep in the mantle of the earth and is then forced outward as a result of the centrifugal forces generated by the spin of the Earth.
Witness the fact that the former USSR was considered to be a non oil producing nation at the end of WWII. Then Stalin got the results of a study done in 1951 and suddenly saw the potential for deep core oil production. TODAY Russia is the #1 producer of oil in the world. Surpassing even Saudi Arabia just last month.
If oil is fossil fuel, made up of the remains of dead dinosaurs and old forests, why are some oil fields in areas that have ALWAYS been under water? In fact, under that theory, then the entire state of Montana should be a member of OPEC since there have been more dinosaur remains discovered there than any other place in the country. I haven't heard of any huge oil fields discovered there, have you?
In fact new fields are constantly being discovered. Witness today's announcement of a massive field discovered in the Gulf of Mexico that could increase US oil reserves up to 50%! The question here is how will the liberals react to that announcement? Will they scream go drill? Or will they more typically rail on environmental concerns and advocate hands off?
The fossil fuel folks are always whining and hand wringing that it is inevitable that the world will eventually run out of oil once all the animal and forest remains have been discovered. There is a finite amount. What have they to gain from such an assertion? Fossil fuel is still after all, a theory. That it has been repeated so often so as to take on the semblance of truth is undeniable...but it is a theory nonetheless.
If this theory is accepted as FACT and the oil supplies will eventually run out and the major truth of western civilization is that it runs on oil...then the liberals stand to gain a drastic, even draconian resturcturing in the fabric of society. Perhaps achieving some kind of nirvana/utopian society based on marxist ideologies. In other words...the same old song. But oil depletion is key to their strategy.