What does "Europe running out of oil" mean to you? Gas at the pump for >10€/l, potentially with some rationing scheme? Do you honestly think that's gonna happen?
It is easy to get infected by the media narratives that are notoriously biased towards maximum drama, but I firmly believe that we are not gonna escalate into such a scenario.
There's always options; sorting priorities because of price, radical electrification of transport, or, at the extreme end, picking up coal hydration again (worked well enough to keep the Nazi war machine running for quite a while, with much worse access to crude).
For comparison: Copper prices did increase by 500% since 2000, but people barely even care, and that's how I would expect "shortages" to typically go.
It is easy to get infected by the media narratives that are notoriously biased towards maximum drama, but I firmly believe that we are not gonna escalate into such a scenario.
There's always options; sorting priorities because of price, radical electrification of transport, or, at the extreme end, picking up coal hydration again (worked well enough to keep the Nazi war machine running for quite a while, with much worse access to crude).
For comparison: Copper prices did increase by 500% since 2000, but people barely even care, and that's how I would expect "shortages" to typically go.