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No, I think quite the opposite. I learned this recently and I was quite surprised no one ever uses this as one of the arguments for renewable sources of energy.
Because why invest in an industry that is basically declining and wouldn't be around after 50-60 years.
People have been using this as an argument for renewables since what? The 70s oil crisis? As new ways to access hydrocarbons got discovered the horrified realization was that there are plenty of reasons to bail on those faster than they run out, unfortunately. The issue isn't that we'll run out, it's the amount of damage we'll cause until that point.
And also, it'll take much longer to run out, but others have mentioned that already.
This thread is interesting to me mostly as a periodic reminder that culture wars have shorter memories than one would think. People forget hotly contested issues and the public opinion battle lines around them at a horrifying pace. You'd think it has to do with old people dying and new people growing up, but it's a lot faster than that.
It's because it isn't true. We don't go looking unless it's needed.
Consider especially huge infrastructure like refineries, pipelines, shipping terminals, that take many years to break a profit. Why would anyone build those anymore?
At this point, new exploration and drilling too. I don’t know how long it takes for those to be profitable, but if countries follow through with EV and other targets for renewable energy, we should expect a huge surplus and price drops in less than a decade