I've heard that resources of petroleum will be empty in about 10-15 years. Is it true? Pls help..?

Question

I'm able to get admission in Petroleum or Computer Engineering..

So pls help me as this is about my career....

Answer 1

I heard they'd be exhausted within thirty years, and that was in about 1972.  Later, I read much the same in a book dating from 1950.  I wouldn't be a bit surprised if you couldn't find something similar in still earlier books as well.  That's not to say reserves are endless, but it's worth keeping in mind.

Answer 2

At today's production rate, the total proven oil reserve will last 65 years.  There are more un-proven oil reserve such as Oil Shale in USA, which is estimated to be enough to meet U.S. demand for oil at current rates for 110 years.  

There is not yet any significant commercial production of oil from oil shale in the United States as of 2008, thus the oil shale reserves do not meet the petroleum industry definition of proven oil reserves.

Of course fossil fuel is more than just oil.  Russia has the largest proven natural gas and natural gas is estimated to last well beyond the supply of oil.  There are already viable production plants that will convert natural gas to liquid fuel.  See http://en.wikipedia.org/wiki/Gas_to_liqu...

Answer 3

Petroleum reserves are a function of price.  The world's reserves increase as the price goes up.  Currently crude oil from Canadian tar sands is now very economic, this increases the reserves by several decades.  As price continues to increase, the shale oils from the USA will now become viable.  Both the oil sands and oil shale are bigger than Saudi's reserve.  Every thing is economic.  Too quote a former Exxon executive, "the stone age did not end because of a lack of stones".  As cost go up all of the alternative become more viable. I am an oil field consultant and am personally scared about high oil prices.  The higher the price the greater the competition.

Answer 4

No that's not true.

Answer 5

NO !!! Plants saved our original fossil fuel and will continue. The way we are handling our trash it could be even a greater challenge to find it.Photosynthesis is where the sun energy is captured by plants and then it is stored as a fossil fuel ...