Are we running out of oil?

Question

I am curious to know due to all the high gas prices and all this hype about oil?

Answer 1

I bought some today and they had plenty.

Answer 2

Logically speaking, we are bound to run out of oil sooner or later as the earth is a closed system and we can't get any from space.

But the current talk is hype, you are right.  We heard it all before, in the 70s.  Don't forget that the oil reserves discovered so far are the only ones considered worth looking for.  As the price of oil rises, it will be worth prospecting for and extracting oil where it wasn't before.  Eventually, yes, the price of getting it out of the ground will make it not worth doing, but that is a LONG way off, possibly 300 years.

Answer 3

yes, the more we use the less there is, that is a fact. oil is an nonrenewable resource

Answer 4

Actually, the more we use, the less there is, true, but ...

the more we look for and find new sources.

Answer 5

we have enough oil to last us for hundreds of years, the problem is getting it out of the ground.

Answer 6

All I can tell you is what I have lived through: In the late 1970's I was a cub reporter for a local newspaper in California. There was a 'shortage' of gasoline and everyone in the state could only buy gas on the days that matched the last number of their car's license plate (i.e. if it ended in five--an 'odd' number--you could only buy gas on an 'odd' number day like 3, 5, 7, etc.). Oh, and you had to wait in lines of cars that went back miles from the entrance of the gas stations. The 'pundits' of the time screamed that by the year 2000 there would not be one drop of oil on planet.

Guess what? It's 8 years after that deadline and I don't see any missing oil. That's all I can say.

Answer 7

It all has to do with power and control...... the only thing were running out of as a human race, is brains. I'm preplexed common people cant put this puzzle together over oil.

this has nothing to do with conspiracies, only facts.

you need to read " the non oil crisis " to understand how the industry works from the oil well to the pump, its all controlled by the Worldbank and International Monetary fund. these groups work outside scoope of government control except in areas of EPA and state agencies.

sure oil companies are profiting, but they dont set the price, Wallstreet and London does.... its politically driven, evetually these two power houses will lead us to one world government, thats why the U.S. economy is near collapse..... its intentional.

Answer 8

Absolutely not!Anyone who says so is either uninformed or is a liar.I used to work for an oil company.When I would get bored I'd go and look at the geology maps.This was during the 1980s.At that time there was a 200 year supply of oil and a 2500 year supply of natural gas.Oil and gas shortages are a scam to scare people into paying higher prices.Unless the government steps in and stops it the price will continue to rise.