Has anyone read or heard about the process known as hydrous pyrolysis? It can be used to synthesize petroleum indefinitely from animal waste products. The people-who-know predict that it will be more cost effective than drilling when at-the-pump prices reach $4.60 or higher on a consistent basis. Of course, that kind of pricing and the complications/propaganda/public reaction associated with changing to synthetic oil will probably cause issues similar to those of Peak Oil decline, albeit to a far lesser degree. It also means no depletion will ever happen and since the oil barons are already preparing to make the transition, it likely won't create cataclysmic economic event due to the collapse of any major corporations.
This doesn't invalidate the importance of green wizardry but it does paint a far brighter picture of the future. Has anyone else heard about this?