Is The World Running Out Of Oil?

At the current rate of consumption how long will it be, until earth runs out of oil, a valuable, non-renewable resource? 

For many years now, oil production has been on the increase.

Experts and scientists have been trying to figure out how much time is left until the wells run dry. It's not that easy, considering BP's estimation at the World Energy Day conference, in 2014 that we would run out of oil in 50 years but only if we stay at our present production levels and based on 'Proven Reserves', calculations of how much oil that we think there is.

Earlier predictions declared the world should have run out of oil years ago but it hasn't. Apparently, there's more oil out there, and there's a lot of it. The problem is by today's standards we can't figure out how to get at it, as of yet. Technology to get at it is improving (fracking), we are drilling deeper, and discovering new reserves almost daily.

So, we'll have to extend the time limit for running out of oil. I'd take a wild guess and say add on another 50 years. By then, probably most of all energy will be created by nuclear fusion and we may not even need oil anymore. I'm just guessing of course.

 *If you like my blogs check out my book "ONE TWO ONE TWO a ghost story, on sale at Amazon only $2.99 on Kindle  or read it for free join Amazon Prime

No comments: