Two things.
The Al Gore CO2 alarmists don't know everything. Consider this report on unexpected carbon uptake in desert areas
The article was published June 13, 2008; no one but you would expect Al Gore to know something that hadn't been discovered yet. And, it sure does not even come close to balancing the effect of ocean warming on the amount of CO2 in solution (nota bene, the warmer the water, the less CO2 the oceans will hold). For the science oriented in the group, open 2 bottles of cold Coke and put one in the fridge and leave one in the sun - test hourly.
Will we run out of fossil fuels, in our lifetimes or our children's? The amount of oil discussed is generally in terms of "proven reserves", which means that which has been found and somehow measured.
The oil companies keep getting their heinnies spanked for overestimating their 'proven' reserves, often by 50%.
What about that which hasn't been discovered or exploited yet? And further, there are theories that contradict the standard origin of oil as remnants of the dinosaurs (which would be a finite resource) - that hydrocarbon fuels are originating from deep in the earth - so how much might there be over time?
I am surprised that someone else has heard about the 'oil is produced by pressure, water and limestone' theory. I actually like that theory but that is beside the point because the theory does not explain why oil is found where it is and "We can't drill our way to energy independence"