I'm sure the oil companies have a somewhat more accurate estimate of presently known oil reserves, but they sure aren't going to share that data with us.
The key word is "known" oil reserves. It's commonly believed that there is far more undiscovered oil reserves than the average citizen could know.
During the 30's, it was commonly believed that we would run out in the 80's... didn't happen. Then there was the big crisis in '73 which spelled the end of big, strong, safe cars and introduced us to puny gas-sippin' garbage like the Vega and Pinto. Now we're getting the same story. Youngn's on this board are being introduced to a fuel crisis and possible economic trouble for the first time in their lives. I've struggled through TWO recessions ('81 and '91) so I don't see any "real" trouble on the horizon yet. Surveyors serving land and business developers are the first to see an economic bust (6 to 12 months in advance), and I haven't seen any slowdown at all... yet.
So now about 50% of Canadian motorists are stuck (once again) with oversize gas-guzzlers. I'm sure gas prices will settle down within a year or two and we'll get back to driving stuff we prefer (big stuff). In the mean time, guess I'll have to blow the dust off my '74 Moped 
As for electric cars, I'd consider one ONLY after many friends have nothing but good stories to relate about THEIR electric cars. Right now, if I'm leaving the office late at night in the middle of a -30deg snowstorm, I wouldn't trust the electric car to get me home worry-free. And it's not practical to expect folks to by TWO cars: One, electric for summer, and a Second, gas for winter. In fact, how do you heat the cabin in an electric car?