When it does run out, it will be gas as well, so that will not be a fall back. It is possible to make plastics from food starch and other biological constituents. Alternative fuels are being made for diesel cars from Jatropha plants, which are not used by humans or animals as food, and grow in country not suitable for food crops. Good areas for this would be in Afganistan as a replacement for Poppies. Hopefully by then there will be more geo-thermal power plants operating so there will be no loss of electrical generation from oil and gas.
In answer to cold fearrr, coal is not a biofuel, and oil most definitely will run out.What will happen when the worlds oil supply runs out?
We will stop using it.
Well the wrold is already preparing for that situation. They are creating more hybrid cars so that eventually they will switch over to all electric or they will just use ethanol. So expect the corn prices to sky rocket.
We're in a blunder.
We could probably make do with gas as an alternative, and hopefuly research into renewable energy will have improved.
However, there'll be no more production of plastics, which will cause BIG problems to the urban world.
Oil is being produced all the time, but at a painfully slow rate that is pretty much imcomparible to the rate we are extracting it.
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