It most likely wouldn't fall. Oh, we'd be hurtin' for a while, but there are plenty of substitutes for oil.
Let me point out, too, that as oil gets scarce, the price goes up. If the price ever gets permanently over $50 per barrel, there are huge amounts of oil extractable from tar sands in Alberta, Canada - more oil than exists in the entire middle east. It's not economical to extract at current oil prices, but if prices go up - or if technology advances - then there's a huge oil supply out there, just waiting to be tapped. The Alberta tar sands are just one possible new energy source out of many, too. There are others.
For practical purposes, there is no chance of our EVER running out of oil.
2006-09-16 05:13:22
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answer #1
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answered by Bramblyspam 7
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Within a month or not at all. After Katrina, the US got extra from other countries. If 50% of the world wide supplies were lost, the US would have to figure out how to get by without relying on that help. There would be planned rationing, or really high prices. That could cause nationwide chaos or not, and other counties would be having the same problem. Isn't oil already permanently above $50 per barrel? It just made a steep drop to $63.
2006-09-16 12:42:45
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answer #2
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answered by Eric 4
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Civilization would fall apart as countries fight for the remaining oil supply, nations would erupt into civil war. Economies would fall apart first, followed by the destruction of social and political order, religion could play a major role in re-establishing any form of order, much like the past. But in real time terms, who knows.
2006-09-16 12:13:45
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answer #3
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answered by Jerrick L 1
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oil is not the only form of energy we need it but it is not vital our lifes would go on but many jobs would be lost but these could be recreated in the research for new sources of energy. So to answer your question 50%loss of oil reserves wud only hav a temporary effect on human civilosation
2006-09-16 15:17:11
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answer #4
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answered by tom m 2
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Your question leaves one to consider if you are discussing proved reserves or a loss of 50% of our production capacity. I will assume the later. While, I believe that society would be greatly inconvenienced and many routine uses of petroleum would be curtailed, society would still continue. Brazil powers most of its autos with ethanol. That is a good example of the use of alternative fuels.
2006-09-16 12:11:28
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answer #5
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answered by david42 5
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It doesn't take long at all for our society to crumble. Think of the micro culture of Katrina, or the Rodney King incident. I think that our society is orderly as having only face value. People have, and will, use any excuse for chaos. I'd say, ten minutes.
2006-09-16 12:07:36
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answer #6
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answered by Jerrysberries 4
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Not sure if a 50% cut would be surviveable, but if not, then law and order would break down within about two weeks.
2006-09-17 18:42:49
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answer #7
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answered by Anonymous
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As long as it would take powerful nations to arm themselves and set about taking control of what's left. I'd guess about five minutes, then Global war.
2006-09-16 19:28:56
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answer #8
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answered by The Gadfly 5
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I don't believe it would "fall"..
It would experiense some fairly radical changes but not fall...
2006-09-16 12:07:38
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answer #9
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answered by Anonymous
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