what will happen when the oil supply peaks, and the oil starts to run out...?

Answer 1

Here's a conspiracists dream of a question - what makes you think that sources of virually unlimited, non-polluting energy alternatives have not already been "found". There is too much economic and political vested interest in Oil for any serious replacement to appear for some time to come. But it will, when the time is right, and BP, Shell, Exxon, Texaco and all the rest will own the exclusive rights to it!

Answer 2

The short answer is that we're screwed.

Most experts (geologists) say that the US reached it oil peak in the 70's, and that the oil production in the Middle East is on it way to peak right now. That would explain why Bush is so hot to open Alaska to drilling, and why we're really in Iraq. There are no viable solutions to this coming crisis yet, and when we really need them, we still won't have one. Nearly every type of power requires some oil. Coal is too polluting, nuclear is unsafe and no one wants a nuke plant in their backyard. Transportation, farming, pesticides, everyday household items, plastics, all of these and more require petroleum products. You should look up petroleum products on Wiki or an encyclopedia site to see everything we use it for. If it doesn't scare you a little to realize just how dependant we are on it, I'd be surprised. This is a serious problem.

The oil WILL run out eventually. Fossil fuels will be a thing of the past, no pun intended. It is NOT a renewable resource.

Answer 3

hi if the engine runs very low on oil to the position the oil mild or no oil stress then there's a large problem. The oil in the engine lubricates the shifting factors contained in the engine, no oil no lubricating. The factors get purple warm and initiate to soften mutually. the first difficulty to bypass stands proud because the pistons that are made up of aluminum and the earrings. Then the engine will initiate knocking and ultimately grab up.If the engine oil mild did not come on or nonetheless had oil stress and also you in simple terms extra like 3 quarts of oil it must be ok. yet when there are knocks,clicking, smoking variety the tail pipe, or blow by using variety the oil filler cap,engine miss firring then you definitely probably choose and engine replaced. desire this facilitates you good success

Answer 4

I wonder how in the world someone can determine that the world's oil supply is at it's halfway point...? Is there a meter somewhere? I think it is a scare tactic. The world has had oil for millennium, yet in the few centuries that humans have been able to process and utilize it, suddenly we've reached "peak oil?"

Answer 5

Thats an easy one. I assume you mean peaks in production. I don't think we are there yet.

But the quick answer is the price will go up. This will restrict demand and make alternative fuels even more competitive.

The down side is all the other alternative fuels are more expensive so you'll be looking at a world wide contraction in the overall economy because more of the economy will be diverted to pay for the more expensive alternative fuels.

Answer 6

100 years ago they used to worry about Coal running out. All the time, if you read old papers its full of it. Did it ever run out? No, we still have enough coal to fuel the earth for 10'000 + years, its just no longer THE energy source.

Oil will NOT run out, but it will be irrelevant in the energy market over the next 50 years.

Answer 7

Then we will finally have to get off our butts and create an alternative fuel, which should have been done in the 70's during the gas crunch. If we did it then we could now tell all the OPEC nations to kiss our gleaming clean fuel pumps and keep their dirty crude oil.

Answer 8

By then, the oil co's will have figured out a way to monopolize the easiest to produce alternative fuel.

Or, the economies of all the worl'd nations will come to a grinding halt, resulting in glorious war,

OR, science/govt/private industry will have devised a way to mine hydrocarbons from asteroids and planets/moons in the soalr system and return them to earth.

Answer 9

I guess we will find out in the next few years..
I suppose the price of oil will continue to rise and alternative
sources of energy will become more economically viable..

Answer 10

Well then... we shall then start fighting about fresh water reserves, the next liquid Gold.