The world will run out of oil around 100 years before replacement energy sources are available if oil use and development of new fuels continue at the current pace, a US study warns.
Full article here:
What is partly HIDDEN in the article referenced above is the expected oil depletion date of 2054. Less than 44 years away.
And that year is stated to reflect a more “optimistic date” – which means oil is expected to run out well before then.
People are often most concerned about oil as a fuel and their immediate concerns are usually related to the COST of fuel.
But oil derivatives are essential components of modern food and material production. Our lives are dominated by products manufactured from oil. Many chemical based products rely on oil for components.
We should not live with the illusion that the end of oil production is a problem for the future, maybe beyond our lifetime. Reducing oil availability in the near future will cause greater problems than its eventual disappearance.