Oil will never run out! Earth is full of it and mostly it's not from decayed plants and algae.
Some Japanese scientist speculates though that global warming have to do with the actual tapping and not the burning of fossil fuels. I don't know about that?
Anyway if the myth about oil depletion would definitely be proved wrong. No more wars fought about energy. Just drill deep enough and you will find it even in Manhattan or Washington. It's the thickness of the continental shelf that makes it hard in some places and easier in others.
The Keystone was being built to pump tar sand to Louisiana. Curious part about that, is that it's mined, not drilled. They are mined in Alberta, Canada. It comes out as a sticky bitumen, that diluted with lighter oil, or natural gas, so it can be pumped through the Keystone. That particular oil, happens to be dirtier. It has more sulphur in it, about 31% more. That oil was destined to be exported out of our country.
Now to me,I don't see what the reasoning is for dealing with it. It must be cost effective to handle it. I know Russia has oil. But to extract it, it must be heated with live steam. That also is considered dirty oil, so it must have about the same sulphur content. Another point- Russia was NOT able to deal with their oil without western help. We figured out how to help the Russians get their oil.
And putin didn't even have the manners to send us a thank you note.