How much oil now exist in the planet ?

Question

and how long it will take to consume it by todays standarts.

(i know it will get more expensive when it run out.)

Answer 1

I believe like others that the planet produces oil . So it is not a supply problem as much as a greed and control thing .

Answer 2

I believe at our current rates it will take 40 years until we run out in Saudi Arabia, of course there are also other places such as Alaska which have oil and may someday be used if needed.  Hopefully we come up with more efficient energy sources before that happens though.