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"world proven oil reserves are at an all time high"...etc.

Unfortunately - even if this is correct, and opinions do vary - this does not counter the fact that oil is a diminishing resource. Furthermore, the quality of current reserves, in terms of oil grade and ease of extraction, is increasingly poor.

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All flora, fauna, and hydrocarbons are merely aggregates of either solar or geothermal energy, which appears to be virtually infinite for the next few billion years. The rise and fall of individual business models for energy conversion does not imply deterministic limits or that military hegemony produces any benefits.

While certain metals are rare to Earth, they are overly abundant on asteroids which robots have already visited. Severe shortages would create a corresponding incentive to invest capital in extraterrestrial resource extraction, which would lead to much greater long term abundance.

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