That's a classic example of the "preparedness paradox" [1]. When no one raises the alarm in time or it is being ignored, resources can go (effectively) exhausted before alternatives can be found, or countries either need to pay extraordinary amounts of money or go to war outright - this has happened in the past with guano [2], which was used for fertilizer and gunpowder production for well over a century until the Haber-Bosch ammonia process was developed at the start of the 20th century.
And we're actually seeing a repeat of that as well happening right now. Economists and scientists have sounded the alarm for decades that oil and gas are finite resources and that geopolitical tensions may impact everyone... no one gave too much of a fuck because one could always "drill baby drill", and now look where we are - Iran has blasted about 20% of Qatar's LNG capacity alone to pieces and blocked off the Strait of Hormuz, sending oil prices skyrocketing.
