How soon do you think there will be a VERY serious oil shortage?

Question

These giant SUV's and the long commutes from the suburbs to work are part of the reason that oil out put from the Middle East will soon not be able to keep up with demand.

How soon do you think the gas guzzilling world will run out of crude oil? Do you see all these big cars and trucks and SUV's with only one or two people riding in them. Is not that a waste of gasoline?

Answer 1

There are two different aspects here in your question: oil supply and reserves. The probability for serious supply shortage in the near future, especially in the U.S is high, in a period of 10 years. The U.S. has a significant inventory of oil. However, oil reserves in the world are in abundance. We will discover new sources of energy before we run out of oil, so it is a bogus issue. Just to give a few examples, look at recently discovered oil reserves in the Gulf Coast by Texaco and Petrobras off the coast of Brazil.

Answer 2

if you really want to find out, go watch the documentary "A Crude Awakening - The Oil Crash", it's on sale at amazon.com  or rent it from netflix.

Answer 3

It's not only the Middle East but the oil companies as whole. No matter who you ask as long as it is up to say someone like Exxon-Mobil we are always at peak production. This allows them to raise prices at will and say it was demand based and revolves around conservation. The vehicles are slowly getting more fuel efficient but are also costing more. 20 mpg from a Tahoe type hybrid SUV is here now (depending on your *honest* driving habits) were as a few years ago it was barely 15 mpg. There is even a dual mode hybrid 1/2 ton truck from GM that will get 22 mpg with a 6.0 liter engine up from 13-15 mpg. That is a dramatic increase in itself in just a 5 year span. Though the only true way may be using water but Exxon-Mobil will probably become the Exxon-Mobil water service provider. To wrap it up technology takes time to develop, cost money to develop, and has to have enough buyers to except those facts in order to be implemented.

Answer 4

Oil is like a diamond.  Plenty of it ,  There's not a shortage on oil, there is a shortage on supply. The oil company's are keeping the supply down to generate more income just like they do with diamonds. Keep the supplies down and the prices up.  Do some reasearch on Opec on the internet and this will explain a lot to you and let you understand how it works.

Answer 5

I'm going to guess 10-15 years.

Answer 6

No - the real reason is India and China.  They have 2.4 billion people, 8 times our population.  Both countries have an exploding middle class, and they all want cars.  Very soon China+India will have more cars than America does.  This has become much too big for us to stop.  What we CAN do is pioneer the new technologies that will let us all get by on the oil that's still available.  

SUVs came into fashion because gas was cheap.  Suburban sprawl came into fashion because gas was cheap.  They can go out of fashion too.

Answer 7

There won't be one there is too much reserves... the government may say that there is a shortage but that is bull-- we will be dead before we run out...

Answer 8

In the U.S.  30 years ago.   World wide there is enough to last for another 200 years at present consumption rates.  With alternative fuels we wont need much oil or none at all so between 1000 years and eternity.