Did we really go through an oil shortage?

As a teenager, I remember people sitting in long lines waiting to fill their tanks with gas, all so that they could get to work the next day.  The reason for this, is because gas stations would literally run out of gas during the gas shortage.  The year was 1973, and America was experiencing the worst energy crisis that our 50 states have even known.  Perhaps the most significant difference that the oil crisis brought us, was the fear of high prices and economic collapse.   The country was in turmoil.  The president was telling Americans that the world's fossil fuels were nearly depleted and it was just a matter of time before the entire world runs out of oil.  Today, in 2016, most younger Americans know of  no such crisis.  The prospect of running out of fuel seems to be a long since past.  This leads me to wonder.  What ever happened to the oil shortage?  Did we really go through an energy crisis?  Or was it all part of some elaborate scheme to raise the price of oil?