2007-02-01 12:23:36 · 3 answers · asked by gallowaygurlie_8 1 in Environment
We know of enough oil to last us 1000 years at current consumption rates. Problem is only 3% of that is extractable with todays prices and technology...so that takes us down to 30 years.
2007-02-01 12:27:02 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It will never be depleted. Seriously. As oil gets harder and harder to get, and therefore more expensive, other, cheaper technologies will take its place. There will be tons of oil left in the ground, too expensive to get out.
This is just economics - the same is true for any resource. If it gets too expensive, people use something else. It is rarely, rarely economical to extract 100% of any resource.
2007-02-01 20:26:08 · answer #2 · answered by Steven D 5 · 0⤊ 0⤋
At the rate we have been using it and at the rate we discover new sources and better methods of recovery at least 50 years - easily long enough to build the conversion utilities to create pure oil from creosote bushes that grow like weeds throughout the southwest (it can currently be done for $90 a barrel, and it has no sulfer)
2007-02-01 20:42:28 · answer #3 · answered by startrektosnewenterpriselovethem 6 · 1⤊ 1⤋