Is it increasingly scarce? Proven know oil reserves have been stable since ~2012 and are now about 50% higher than they were back in 1990.
Of course the extraction cost has been going up as well since shale is not economical below a certain market price.
So even if it's not scarce, the factor of how economical it is to grab it is a factor.
Sorry, no source, but I'd read it recently.
Is it increasingly scarce? Proven know oil reserves have been stable since ~2012 and are now about 50% higher than they were back in 1990.
Of course the extraction cost has been going up as well since shale is not economical below a certain market price.