Mike,
I'm not sure where your figures come from, but I remember hearing much the same story back in 1977, when the CBS Evening News (Walter Chronkite) was saying that 70% of the word's oil had already been pumped, and we would run out by 1990.
As far as #3 on your list, that is just wrong. Seawater weighs more than oil does (denser) and does not compress any more than any other liquid. All true liquids have the same compressability - almost none.
The reason they use seawater (actually an artificial brine) is because it is heavier than oil, making the oil float on top so it can be extracted. The reason you don't put seawater in your hydraulic jack is that it is corrosive as hell, and the corrosion will prevent a good seal, letting the jack leak down.
Now let's look at the untapped suspected reserves (nobody knows how big they are, because they are not being drilled, but the geologists have made estimates). ANWR - about as much as Saudi Arabia. Siberia - about 10x Saudi Arabia. Why aren't these reserves being tapped? In ANWR it's politics. In Siberia it's economics and infrastructure. Let the price get high enough and they will be tapped.
E85 technology is long established, most notably in Brazil. Brazil has a large economy, only a little oil, and the lack of foreign currency to buy oil on the world market (nobody wants Brazilian cruizeros, and they don't have Dollars, Yen or Euros). What they do have is lots of sugar cane. So they convert it to alcohol to fuel about 70% of the cars in the country.
I could go on for hours, but this is not the place for it. This is a really nice place, and I would not like even the Friendly Chit Chat to devolve into acrimonius debate.
I will say no more.
Peter