When will the world's oil supplies run out?

Question

10, 20, 30 or more years? Does anybody know?

Answer 1

i know because i can see the future. but im not telling u. i can tell u your future but u never asked

Answer 2

I do Geology GCSE .. And from what we have been doing... I believe there is lots of oil out there that no one has discovered yet. We have hardly explored all of the worlds oceans yet and oil is gathered around salt domes sometimes.

Also.. The radius of the earth is thousands of miles. The deepest man has ever gone down is 4miles. So there is a lot more to explore

Answer 3

If people still continue to waste oil, it would run out in about 30 years, but if they conserve oil, it would run out in about 100 years

Answer 4

The oil industry's best estimates place it at about 2025.

A growing number of informed US and European evaluations put this crisis as close as 2014.

There is a difference between total estimated reserves and recoverable reserves.

Currently it costs about one barrel of oil to get four back.

That is down from when one barrel of oil spent exploring, drilling transporting and refining returned about fifty barrels

When that drops to one barrel back for every barrel spent it is finished.

The economic law that rules here is the law of diminishing returns.

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Answer 5

I don't know the world but I do know that the US's PERSONAL (within the US limits) oil will last for only 60 years.

Answer 6

They estimate in the year 2050,but no one can be for sure.

Answer 7

The world's oil supply will run out in about 30 years. It will cause oil companies to go broke, we will have to ride horses and live on farms, give up our electronics and the world's population will start to decrease.

Answer 8

Contrary to many, we really don't have a clue as to the actual oil reserves remaining.

In 1960, Vance Packard wrote "The Wastemakers" in which he confidently predicted "... at current levels of consumption the known oil reserves of the United States will be exhausted in 13 years..." Guess he missed that one, didn't he? Even though consumption increased between 1960 and 1973 (note that Packard based his prediction on "current 1960 levels of consumption), the known oil reserves (in the United States) were larger in 1973 than in 1960.

As oil prices continue to increase there will be more exploration since the potential return on the investment will be greater. As technology improves - and prices increase - it will become economically feasible to extract oil from marginal wells that are presently capped.

Although the amount of oil reserves is finite, you can ignore anyone who claims to "know" exactly when the last drop of oil will be pumped.

Two books worth reading, both by Thomas Sowell:

"Basic Economics: A Citizen's Guide to the Economy"

"The Vision of the Anointed: Self-Congratulation As A Basis for Social Policy"

In "Basic Economics" Mr. Sowell (who holds a Doctrate in economics) uses plain English to explain economics. No charts, graphs or economic jargon.

Reading "The Vision of the Anointed" will require an open mind - a very open mind. Mr. Sowell examines, in detail, the workings of the minds of those who consider themselves better suited to direct my life, your life, everyone's life. They "know" the right way if only us dull, ignorant sheep who think we know how best to lead our lives would simply listen to them.

If you are reading this and have a brand-name bottle of water sitting on your desk then you are part of the problem. In 2006 (the latest statistics available) the production and transportation of bottled water consumed 50 million barrels of oil - enough to power 3 million vehicles for a full year. Three times more water than that contained in the bottle were required for its production.

If you support ethanol then you need to do additional research. The production of ethanol is barely at a break-even level - as much energy (electricity, oil) is required to produce a gallon of ethanol as the energy in the ethanol. Plus, a gallon of ethanol contains only (approximately) 67% as much energy as a gallon of gas. So more is required to do the same work.

Also, using our food as fuel is contributing to hunger world-wide. The corn used to produce enough ethanol to fill your gas tank would feed a person for one year. Did you miss the food riots in Mexico as corn has become scarce and expensive? I honestly believe one could make a strong case that ethanol is a crime against humanity.

Answer 9

It should hold out for another 25 years or so. It depends on how quickly nations mobilize to develop and implement alternative energy sources, how well conservation programs operate, and whether reserves now deemed to be off the table are utilized, which could involve great cost and environmental risk.

Answer 10

a recent study in my counrty (which rich in oils) said with the next 2 decades