For example, it doesn't matter how many billions of barrels I might have in a field if each barrel takes 2 barrels to extract(except as perhaps a chemical feedstock).
It's absolutely meaningless to take theoretical oil reserves and simply dividing them by currently yearly consumption and concluding that we have hundreds of years to go.
The easy oil has been extracted and all that is left is the hard stuff. Even Saudi Arabia is drilling wells that sit under a mile of water.
McCarthy mentions extracting uranium from seawater for christsake! That is really crazy.
Also, it doesn't matter if all of our energy problems could be solved by building a million nuclear plants if the building of them takes so much capital no one can afford it. Again EROEI for nuclear is negative until the plants actually start producing electric.
And it doesn't matter if we have tons of electric if all of our transportation infrastructure requires oil products. Converting all of that infrastructure is going to take lots of capital and energy.
Check out theoildrum.com for lots of good energy articles.