"Techniques for extracting these reserves are being developed that
That just raises costs even more. Funny thing is, without those really really heavy subsidies fossil fuels wouldn't be so cheap as they are today. Think about it for a moment, when it was first used, the oil came from wells so close to the surface, that drilling was so simple and could be done with that "ancient" technology. Nowadays we have oil platforms, underwater pipes and transcontinental pipes, gargantuan ships travelling from one side of the globe to the other. Costs are incredibly higher now, than 100 years ago. Fossil fuels will stop being used long before we run out.
You might argue that the technology doesn't exist. Well, you might find it shocking, but people don't invent things just because they "had an idea". There has to be a need for something, before it's invented. Oil is already becoming expensive, not expensive enough to ground aircraft and force ships to switch back to steam power, but enough to make people take another look at alternatives.
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