1. The known petroleum reserves. There is increasing interest in the idea that petroleum is of geological and not biological origin
Can you find me just one PhD organic chemist or geologist who is "interested" in this idea? Long chain hydrocarbon compounds are too complex to naturally occur without being built by a life form. While we can now synthesize many of these compounds from their basic components, it takes a lot more energy to make them than they will produce. Anyway, I'm not 100% sure that there will not be an energy breakthrough, no one can be on this issue, but on the issue of petroleum supply, I'm more than 99.9% sure:- the more informed research can be found here:
http://peakoil.org/. You might find the reading there interesting.
2. By that argument, we shouldn't be making products using anything other than plants; no metals, minerals, etc. No metal tuners on basses, no metal wrapped strings, no adjustable bows, etc. Seems a bit drastic to me
That's what I'm saying, sort of. Metal parts have been with us for a while, as you point out carbon fiber is new. We should be looking for alternatives to the metal also. Some metals occur naturally pure (Silver, Gold, Tin) and could be forged with sunlight furnaces, and carbon fiber may be available for very limited uses. But it simply will not be economically feasible for uses on musical instruments, and metal may not be either without the cheap energy that makes it currently feasible. And whatever energy we have in the future, it will not be as cheap as oil was, at least not in the short run. In the long run maybe, but that isn't something I'd bet on. Anyway, we won't solve the problem on a bow forum, but it is food for thought since our instruments and bows are pre-industrial in the original form.
I see no reason to give up adjustable bows, or geared tuners. There are woods such as lignum vitae, which are strong enough and self lubricating to allow for these functions. There is no reason we should give up silver wrapped gut, just expect the price to be a little higher.