How long will it be untill the world runs out of oil to put on our gas tanks?

Question

How long will it be untill the world runs out of oil to put on our gas tanks?

Answer 1

Not in your life time,but you will pay a lot.

Answer 2

The critical year is around 2012, by most petroleum experts.  The world will never "run out of oil" but it will become so expensive to find NEW oil that it just won't be worth it.  When oil reaches $250 a bbl, that's when things get really bad.  Worry about running out of natural gas that drives our electric gen plants.

The oil crisis is one of the least understood issues and most avoided by our govt of any issue that I know of.  They knew it was coming and did absolutely nothing but invade Iraq.

Answer 3

You need to buy as much food as you can now. I mean can foods, they will last 5 years. If you are living paycheck to paycheck do not worry about gas. We as a World are running out of oil that can be pumped, we will have alott of oil 10 years from now for the ones that survive. I agree Peak Oil is a issue, 40 billion a year profit, one month taking a loss is no big deal, watch out at the end of Sept. when oil companies report a loss! Guarentee they will, end of quarter, with oil prices down at the pump. Go figure, just right in time with home heating to come around.

Answer 4

That depends on many factors including how many cars are purchased in the developing world.  We have a lot of shale oil that could last a long time and coal can be converted to replace oil.  So the answer is most probably many years!!!

Answer 5

15 years.

Answer 6

We have many years of oil left because we've only used half of the accessible oil. The problem is that prices will continue to rise because OPEC continues to reduce its output when another oil field outside OPEC is put online. So if we tap into an Alaska wildlife refuge, OPEC will reduce its output to by an equal amount which will keep the price of oil high.

Oil fields go dry more often than they are found. This means that every year, we are pumping less the we had the previous year. The peak oil production in the US was in the early 1970s. Worldwide, we are near or past the maximum output of oil. This means that as more and more countries demand more and more oil, the price of oil rises.

You can bet that the price of oil will double every 18 months. Look up "Hubbert's Peak Theory" and "Peak Oil" for more details.