Are fossil fuels such as coal and oil really as depleted as the world depicts them as?

Question

Or is it just one big over reaction?

Answer 1

There are "Proven Reserves."  These are being used up at an accelerating rate.  

There is a history of finding new supplies.  If you assume new addition to "Proven Reserves" will continue then there is no problem.  If you fear that we have found most of the oil there is to find then there is cause for concern.

The U.S. has been using most of world's oil for the last century.  China. India, Europe, all want a better lifestyle - they want to live (and consume) like the U.S.  They have about 10 times the population of the U.S.  If the world has a 500 year supply of oil )for U.S. consumption rates) that would last only  50 years if the major populations instantly started consuming like the U.S.  

Fortunately they can't increase consumption instantly.  Unfortunately they are increasing their usage at an accelerating rate.

Answer 2

While not depleted, they will run out someday.  There are places that are currenlty off limit or too expensive to get them extracted.

Answer 3

No...it's an excuse to keep the prices high. The U.S has alot of coal...over 100 years supply I think I read once.