As economist Julian Simon bravely contended in the '70s the only actual resource we have is between our ears...in the form of technology. Any other commodity is useless unless we know how to use it...as was oil, until about 150 years ago.
The best way to develop and use technology is through the free market of demand and supply. As we use up the oil...and/or demand becomes greater than production (as it has in recent years) prices will rise, and with that incentive, inventors will develop new oil-free technologies.
Fear of running out of fossil fuel, or anything else for that matter, is born of ignorance of basic economics. Far from government intervention, market forces should be allowed to work--without artificial suppressions of price.
The owner of the highly successful company I used to work for summed it up: "Our only real competitive advantage is to learn faster than our competitors."