For almost as long as oil has provided us with the fuels for transportation, industrial production and personal comfort, many consumers have wondered if or when the world might run out of oil. They acknowledge its importance to our quality of life and personal mobility, yet they worry that it is a finite resource. "Shouldn't we replace it with an alternative immediately?" some ask.

The issue of future energy supplies is complex and cannot be solved by simply deciding to switch from one form of energy to another. Nor will we solve our energy problems by pitting one fuel source against another. We clearly need all sources. And the facts indicate that our society does not need to rush into a decision. There is enough time to consider all of the energy options and to make reasoned decisions. The full implications of decisions about new fuels and vehicles should be considered as they are explored.

A review of the facts provides a sound starting point.

The U.S. Energy Information Administration (EIA) projects global oil alone is sufficient to supply increasing quantities to consumers worldwide each year for generations to come.

At the present time, there is no other energy source that is as efficient, versatile, or affordable as oil. It is used to power our cars, heat and cool our homes and workplaces and provides power for industrial operations. In addition, it is converted into thousands of consumer products that enhance our lives and economic growth, every day.

At some point in the future, technology might make available another form of energy that is even more efficient, cleaner and cheaper than oil. In that event, society might transition to it – not because we are running out of oil, but because consumers believe the new energy source is more affordable or is a better alternative. In the meantime, the EIA forecasts that petroleum-based fuels will continue to be the dominant energy source until at least 2025.