What is the current situation with the global oil crisis?

discuss the current situation in regard to oil depletion and what can i do to help mitigate the situation

Answer:
There is no depletion, there's enough oil for 100 more years.

There's limited output due to OPEC cartel agreement + war in Iraq; and there is increased demand due to rapid development of Chinese economy.

US also had a gas price spike due to limited refinery capacity when several large refineries shut down for maintenance ahead of summer and to implement better safety after an explosion at BP refinery.

YOu can "help" by driving less and using less electricity.

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