How many years of oil do we have left in the world?

Answer 1

It depends on the growth rate of the population. It is assumed that the population will peak at 9.5 billion in 15 years. At this population, we will have 3.5 or so really DEMANDING the oil, with a 600 million being the *prime consumers (USA amongst these 600 million). These are different castes....

3 of them, the 3.5 consumes by-products but does not use oil directly, and there are like 2.1 that use directly and then there are the "heavy" lifters which are 600 million.

If we peak at 9.5, and the economic developement turns 30% of 2.1 into heavy lifters as expected, and the 3.5 by products and some direct use, turns into 4.7 as expected...And the rest of the world keeps on growing industrially and economically, adding to demand.

Then the oil supply will run out in 120 years.

However, before then, the 60 year mark will give rise to 250 dollar per barrel oil, which will drastically curb demand (people will either just learn how to live without oil, or become more efficient due to price increase.)...This is also expected...

Then the actual demand will go down, maybe even global economic growth and population...which some models predict would actually shrink even though economically the world would be healthy....especially if the population decreases to 7.1 billion through goverment intervention...

This would decrease the rates...and make oil even more prolonged due to less demand ----which is the most probable thing to happen...

If this happens, as expected, then we will have a 450 life expectancy...

And before that life expectancy is over, most authorities agree that we will have found alternative ways to sustain our economy...

Then it is expected for global pop to peak at about 6.5 billion, and stay that way for some time until some very advanced technology that brings plentiful energy will allow the human race to have sustainable exponential growth again.

So I would say, you have a 500 year lifespan, due to our increase of efficiency that will inevitably happen..

However, if we keep on being inefficient ,and people pay 300 dollar per gallon in the same quantity they pay now for gas, then oil may run out in 60 years...But market forces will naturally force people to cut on expenses and become more efficient with energy, which will decrease global demand, and thus, expand our oil life-expectancy..

There are a few catastrophic scenarios where pop reaches 13 billion, but this will gladly not happen, due to China's one-child polciy....which in my opinion, saved this planet's resources and our race from destruction.

Answer 2

In its current form, we'll run out around 2050, give or take a decade. That is highly variable, though; some reserves will run out much sooner, others should last for decades longer.

"In its current form" is the key, though. There are many forms of oil which are simply not feasable to extract...now. But as oil scarcity--and hence oil prices--continue to rise, these alternative forms of oil will become economically feasable to extract.

One form of this is tar-sand oil, which is basically oil mixed with sand. This oil is just now becoming economically feasable, because separating it from the sand is an involved and laborious process. Canada is reputed to have a very large supply of tar-sand oil, especially in Alberta; Venezuela likewise has a large amount, though I don't think they've begun extracting there yet. Current estimates put the figure at roughly twice the total world reserves of "regular" oil.

The other form of oil is shale oil. I don't know if that is economically feasable to extract yet, but once it is, the U.S. has about 2/3rds of the world supply sitting under us. Total global supply of shale oil is slightly less than current "regular" world oil reserves.

So if "regular" oil reserves will run out in about 50 years, then throwing in both tar sand & shale oil, we've probably got enough to last until around the year 2100, maybe a few decades longer.

Answer 3

The question of how much we have left is not important.
The important question is "When have we peaked?"

World oil supply extracted from the ground follows a bell curve.
As soon as we "pass the peak" of the curve, prices start rising exponentially. Why? Because world demand is outstripping supply. This is exactly what is happening right now, and there is lots of evidence to back it up.

So instead of asking, how much do we have left, ask, when will supply peak?

Its well known that Natural Gas supplies in North America have already peaked. The CEO of Exxon even said it.

This could cause a serious crisis in North America, very shortly!!

"Gas production has peaked in North America," Chief Executive Lee Raymond told reporters at the Reuters Energy Summit. Asked whether production would continue to decline even if two huge arctic gas pipeline projects were built, Raymond said, "I think that's a fair statement , unless there's some huge find that nobody has any idea where it would be" [...]

Answer 4

No thank you to tell in simple terms from inhabitants enhance value. you would be able to desire to comprehend how lots of those persons are utilising vehicles. and how a lot mileage those vehicles get. And what different issues is oil used for? airplane? electrical energy era? Ships? Trains? backyard mowers? Plastics production? how a lot of human beings use those products. there are a lot of persons interior the international today who do no longer use ANY of those issues, and distinctive extra who in basic terms use a small element of that. and how a lot oil is left interior the international. we don't comprehend any of that. however the final opinion is that we've one hundred years of oil left. that's in basic terms a wager nevertheless, no one incredibly is familiar with.

Answer 5

There is soooooo much oil left, it's not even worth worrying about.
In America we want to try to use up everyone else's oil before we even touch our own. There maybe 45 years of other countries oil but a virtually limitless supply is here in the US.

Answer 6

the know reserves will last aaround 50 years, the unknown - who knows, - they just stop looking for more oil once they know they have 50 years worth.

Answer 7

about 45 we are using up way to fast and the population keeps growing congress needs to mandate higher fuel mileage cars now ,,,we have the technolgy to do that many years ago but oil companies are giving way to many kick backs to congress

Answer 8

around 30-100 years, based on what I've heard and read