A core Economics 101 bullet point is, recall, that higher prices catalyze the development of substitutes. This, too, is a reason why we will "never run out of X."

And free, competitive markets ensure that those substitutes which are presently not economically viable, may one day be common-place, and affordable. Fifty years ago, air-conditioning was a luxury item, now, a cheap window-unit can be had for $100 or so.