When are we going to run out of oil?

Question

It isn't a limitless supply.

Answer 1

I think with new drilling and locating technologies, oil is projected to last about another 150 years. Population and consumption growth factored in. Plenty of time to find alternatives to petrol.

Answer 2

The basic assumption here is there is a finite amount of oil and that humans will use it up before they develop an alternative. The first law of economics states that price will go up as supply dwindles. In the case of oil, if the price goes up too high the use will stop. So the supply will never end. The question becomes at what price will each individual stop using it. That requires two other lectures called "Marginal Utility" and "Elasticity of Demand"

So, the answer to your question is "Never"

I have often said here - All liberal thoughts, policies, values, and beliefs, are based on specific lies. All liberal rhetoric is simply justification of the lie. If you listen to them it makes perfect sense. The trick is, examine the premise of their argument. They have assumed something that wasn't true. I have never seen any exception to this basic evaluation of liberal rhetoric

Answer 3

Not for a very long time. Even if we run out of oil that we pump out of the ground we can get it from the vast tar sands. Really the oil supply isn't running low, nor will it for maybe a good 200 to 300 years.

Answer 4

Light crude will run out in about 30 years. Heavy oil, shale and bitumen will last another 100 years or so beyond that. As the cost of oil rises, it will be economical to recover petroleum from sources other than light crude.

The United States has approximately 75% of the world's shale. Canada has over 75% of the world's bitumen. It is estimated that there are 1.5 trillion barrels locked up in shale deposits in the United States. Bitumen and heavy oil reserves in the Western Hemisphere come to about 5.4 trillion barrels. As conventional sources of oil are depleted, these sources will be tapped.

Answer 5

In the next 5 years Hubberts Peak will be past, for the next 3 or 4 years look for 10 to 15% peryear rise in cost per barrel

Answer 6

There will always be oil, it will just get so expensive that no one will be able to afford it.
If people think $90/barrel is high, wait until it is $200/barrel after bombs start dropping in Tehran.

The time of oil is over, when we are killing over an energy resource, it is time to find a another one.

Answer 7

The GOP only worries about running out of Vaseline -

KXLY reports that GOP Rep. Curtis was not just into picking up young men for sex, he was also into wearing lady's clothing. My God! What is wrong with these Republicans? This guy voted no on employment equality for gay men and women while he was wearing frilly undies! (He insists he's not gay. Maybe the Republicans have their own words for things that are different from normal people's vocabularies. The KXLY Report is completely graphic (anal sex, etc).

Answer 8

we have already peaked in oil production,so within 50 years.

Answer 9

Don't worry we'll replace with butter or margarine

Answer 10

never until the end of world