The end of oil?

Before leaving mumbai for dubai, met up for a late night strategy
meeting and bad chinese dinner at the leela with a really passionate
entrepreneur. This is someone who i think really has the potential to
make it big and in some ways is already living the entrepreneurial
dream. Our discussion went onto an interesting topic which i thought i
would put here. Infrastructre has always been built to support gold
rushes. The american railroad was put in to transport gold, the indian
rail to transport spices, textiles etc. More recently i believe a lot
of the technology infrastructure around india was put in to bring
indias best resources to the west - leased lines broadband etc.
However, its actually feeling like today the oil has run out. You had
a few good IIT and other engineers who went to the west and jazzed out
the fortune 500 who then decided to move work to india and indian
companies and then TCS, INFY, IBM, WPRO just employed a few ten
thousand employees each and thats it - there is no more oil. I have
not met a single half decent programmer in over a year. The people i
meet from the above mentioned companies are worse than the 20 year old
java programmer who works at a friends company in london. Its
depressing. I think these companies now will realize they need to dig
deeper for oil. They need to invest in much better education,
universities, training etc. Maybe the government could encourage it in
some way. Please do so guys. Dont expect us small guys to drill for
the oil.