oil will run out. unfortunately, neither the head of the epa, the secretary of energy, the ceo's of big oil, nor the world's top geologists can say with any certainty if that will happen by 2025 or by 2125. it's possible that the third world will become advanced enough that we eat through those reserves much more quickly than anticipated. it's equally possible that offshore drilling will uncover vast new reserves that we weren't aware of, and that drilling will become more efficient so that we're more productive at harvesting that oil.
very few will dispute that alternative energy is the future. as a prescriber to the field of keynesian economics, i'm of the opinion that the private sector will develop these technologies when there is a an ample market to do so. furthermore, national governments have proven grossly ineffective at stimulating these breakthroughs with public dollars.
so, to conclude, alternative energy is a necessity. unfortunately, government intervention in energy policy (from a United States standpoint, see Solyndra, the Keystone Pipeline, and ANWR) has proven burdensome and misguided.
when exxon, bp, and duke energy realize that we've hit peak oil, they'll divert their resources into alternative energy in order to maintain revenues. above all, corporations desire profits and business growth, and alternative energy will receive its due day in the sun when oil is no longer king.
politicians- in contrast with oil executives who have spent their entire lives examining energy policies- are generally out of their element when effecting private sector stimuli. so, i'll leave energy decisions to people who make their livings doing just that; the market and the fumbling 535 should as well.