There's absolutely no way that there's one million gallium reserves economically viable for extraction. If there was, the price wouldn't be that high.
Hafnium and indium too. 2017-2020.
https://scholar.google.hr/scholar?q=indium+hafnium+reserves&...
For most non-energy non-renewable resources, humanity can just pour more energy than they do now into securing the scarce resource, and things will be a bit more expensive, but less concentrated ores will be targetted and more expensive extraction methods used and the supply will hold up at a higher price. Substitutes will be sought and some will maybe be found, if they work out better than the now-pricier resource.
Finance abhors an inexpensive depleting natural resource it has no substitutes or emergency supply for: if it is economically viable for one investor to buy all the world's remaining supply of Technetium, he will stockpile it and trickle it out to the resource-starved market at ten times what he paid. To assert that "lack of education" is the problem is ignoring the numbers issue: it only takes a single smart investor to turn the whole market towards appreciating reality-mandated scarcity, and he earns a very large profit for educating the market.
Fossil fuel extraction concerns have a better basis: they have a floor at which it is mathematically impossible to profit from extraction, EROI<1, so long as you are using the energy you extracted to harvest more energy. I was for a period of five years or so an alarmist on this point. Even so, it looks like there exist enough positive EROI deposits to raise global CO2 by an untenable amount (an amount which depopulates >10% of the world's presentday habitation due to high wet bulb temperatures), long before we run out of coal, oil, gas, & kerogen shales.
It's pretty safe to assume an equilibrium between these sorts of processes, and a lack of "glaring upcoming shortages that Capitalism Didn't Listen To Our Warnings About".
At least, up to some level - maybe two or three decades - at which uncertainty about future inflation rates and technologies renders it really risky to make long bets of any sort.
In the end of the day, that probably means that we'll get our gallium, but we'll have to pay more for it.
For example 2017 is the year when some of the most used rare earth elements will be depleted and should be retrieved through recycling in the next years (gallium for the LCD displays is disappearing, so either we figure out the displays or massively recycle). This is not a surprise because the demand for rare earth elements has been rising exponentially, with the number of electronic devices produced :D
Although, food production is definitely getting more and more efficient. But biology of living beings on Earth is too inefficient for the current production to be sustainable. Just compare the vast amounts of food (energy) a single duck, chicken or cow needs to maintain body heat, with the weight (energy value) of meat. This coupled with growing consumption in developing countries won't really work.
Without Hot Air is an excellent book written by a problem solving pragmatist and excellent machine learning researcher David MacKay exposing the pure numbers and limits and extrapolating them carefully, to get the same conclusions. http://www.withouthotair.com/Electronic.html