Many people don't realize that the worlds conventional oil will finish within 42 years and that the non-conventional oil which will cost multiples of todays prices will finish with in 81 years.
It doesn't seem like any one notices what's happening.
The world can't just suddenly stop using cars. What will happen to the millions of petrol powered vehicles.
What will happen to countries like the UAE and Saudi Arabia, it would be horrible if they began to turn back to deserts...
What will happen when the oil runs out?
It doesn't seem like any one notices what's happening.
The world can't just suddenly stop using cars. What will happen to the millions of petrol powered vehicles.
What will happen to countries like the UAE and Saudi Arabia, it would be horrible if they began to turn back to deserts...
What will happen when the oil runs out?
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It's not going to run out in an absolute sense, it will just get progressively more expensive as demand outstrips supply. As the price of gasoline increases, other ways to power cars (e.g., batteries) will become more competitive. It won't happen overnight, but over many years--perhaps decades.
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Jeff gave you a good answer. I would say that your timeline is optimistic. Conventional Oil will reach its supply peak in about 2045 and the Price related unconventional or higher price will Peak in about 2060. In 82 years most oil will be unaffordable to extract, at a price that can be economically tolerated!
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It won't run out in any of our life time, but there are other resources out there. We haven't even tapped into our biggest oil location in Alaska.