So we are not really RUNNING OUT of energy.. but AFFORDABLE energy could be a challenge..  One part of the puzzle is that Ethanol has WORKED.. we ran it up to 900 k b/d.. and that's Nothing to Sneeze (at).. since it's a 100% Gasoline supplement.. replacing it.. at 45% yield of gasoline per bbl.. means you need about 2 mln bbls per day of something else.. (okay not quite that high as you would get other products.. distillate etc..) say 1.45 mln bbs/day..

IF you found 700 bbls per day wells in the Bakken.. then you ONLY NEED 2,071 NEW Wells just to replace THAT.. plus you need to fight the depletion curve.. as well as growth curve.. aka China going from 10 mil b/d consumer to 20 mil b/d consumer over the next.. decade or so..  Per person we consume about 22 bbls per person per year vs about 3 or 4 per person in Asia.. that is going to change going forward..

Googled the actual data..

Here's a pretty decent piece on North Dakota Crude Production..

http://mjperry.blogspot.com/2012/01/north-dakota-sets-more-oil-production.html

hey "Yippee!!" we're up to 509,754 b/d of production by November of 2011..  This is gleaned from this data set..

https://www.dmr.nd.gov/oilgas/stats/historicaloilprodstats.pdf

Which has more recent data..  I picked the 700 b/d per well number on a WAG.. It looks pretty high although you'll hear of reports of 2,000 b/d and even higher every now and then.. However, the AVERAGE production per well online is only 93 b/d.. so Adding whatever number you want to say to replace etoh.. 900,000 b/d of gasoline substitute.. divided by 45% from a bbl of crude = 2,000,000 b/d of Crude = 900,000 b/d of gasoline + 22% as distillate = 440,000 b/d.. hmmm.. so the 900 k etoh / .67 = 1,343,284 b/d divided by 94 b/d per well = 14,290 NEW wells.

Or basically you need to DOUBLE the number of wells in North Dakota to replace etoh..  It took them about 5 years to double the number of wells.. However it only took them about 22 months to double production.. currently 660 k b/d.. crossed the 330 k b/d threshold in August 2010..  Granted there are other production areas such as in Texas.. and the gulf of Mexico.. but still this isn't going to be easy to do..

Here is Texas's history..

http://www.rrc.state.tx.us/data/production/oilwellcounts.php

Yal baby.. 7 b/d.. but that is from 161,402 producing wells.. and they are up to 1,079,000 b/d.. the largest producing state in the Country.. and still not enough to offset the gasoline needed to replace etoh.

Here is Rapier's long recession piece..

http://www.consumerenergyreport.com/2009/06/09/the-long-recession/

Price will solve this.. but at what level..??  What will a ribeye cost then..???