Remember when oil conservation was a big deal?

Remember when we used to hear all that talk about how the earth is running out of oil and that we should conserve and find new energy sources...remember that? That BP pipe has been leaking.....no....GUSHING oil out of it for over a month and nobody, BP or the United States, is doing anything with any sense of urgency to stop it. Now they said its going to be like this until August.....I guess oil and energy conservation isn't that big a deal. Thoughts on the matter?