Oil is always going to be available. Whether or not it will be available at prices that allow for stable economies around the globe is the question. If oil hits, for example, $500 / gallon and thus gasoline prices are $15 / gallon "business as usual" (aka the economy) has big issues. Big issues.
1) China's and India's economies have been expanding at an insane pace in the last 10 years. More people in those countries drive cars now than every before. The demand has continually been increasing.
And the oil exporters in the Middle East, understanding they have a limited supply of oil in the ground are NOT increasing output much, if at all. The US / Canada in a mad attempt to keep up has been utilizing every drilling rig available for the past 5 years and we are just barely keeping pace with output reductions from the older fields.
So, if Chindia keeps munching on the fossil fuels and we keep doing the same AND production INCREASES don't keep up, you have, wait for it, Peak Oil.
2) Developed nations (most notably the U.S. and Canada) have politically decided that oil is "dirty" and entire industries have been prevented from expanded production of oil in these 2 nations (which have vast tracks of land, full of oil), this is to say nothing of the rest of the world, which seemed quite content to just let the monopoly OPEC exist and just deal with them.
Well, aside from the implication that the Sierra Club and Greenpeace are running things (you might want to tell them), we are, as I mentioned, punching holes through our 'vast tracts of land' and not keeping up with the big increases. Hint - go look up the geology of future North American 'conventional' oil reserves. The USGS keeps dropping that number every year. And a lot of geologists think that the official USGS figures are still overstated.
You have an funny definition of 'monopoly' - Oil is probably the most decentralized power supply on the planet. OPEC / Brazil / China / US / USSR / whateverstan / Non OPEC Middle East - it's everywhere. We've just sucked out the easy stuff.
Now it gets as Johnny Depp would say, complicated.
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