We were supposed to have run out of oil by now. Yet here we are, with surging domestic oil production and falling gas prices. What the hell happened? The end of oil was first predicted in 1909, according to this handy timeline from Gizmodo. We heard that the end of oil was near again in 1919....We were supposed to have run out of oil by now. Yet here we are, with surging domestic oil production and falling gas prices. What the hell happened? The end of oil was first predicted in 1909, according to this handy timeline from Gizmodo. We heard that the end of oil was near again in 1919....